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Author/Editor:
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Faal, Ebrima
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Publication Date:
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May 01, 2005
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Electronic Access:
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Free Full text
(PDF file size is 960KB).
Use the free
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
This paper analyzes the sources of Mexico's economic growth since the 1960s and compares various decompositions of historical growth into its trend and cyclical components. The role of the implied output gaps in the inflationary process is then assessed. Looking ahead, the paper presents medium-term paths for GDP based on alternative assumptions for productivity growth rates. The results indicate that the most important factor underlying the slowdown in output growth was a decline in trend total factor productivity growth. Economic policy reforms and the introduction of NAFTA may have raised trend productivity growth in recent years. Further increases in productivity growth would appear necessary, however, to raise medium-term growth.
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Series:
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Working Paper No. 05/93
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Subject(s):
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Economic growth | Mexico | Inflation | Production | Economic models
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Author's Keyword(s):
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GDP growth | potential output | output gap | inflation | Mexico |
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English
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Publication Date:
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May 01, 2005
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ISBN/ISSN:
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1934-7073
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Format:
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Paper
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Stock No:
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WPIEA2005093
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Pages:
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30
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Price:
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US$15.00 )
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Please address any questions about this title to
publications@imf.org
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