Rapid Growth in Transition Economies : Growth-Accounting Approach

Author/Editor:

Garbis Iradian

Publication Date:

July 1, 2007

Electronic Access:

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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

Summary:

This paper uses the growth-accounting approach to determine the sources of growth in transition economies. The central conclusion is that the estimated total factor productivity (TFP) growth for the former Soviet Union republics were significantly higher than other fast growing economies. A key question for prospective growth is whether the TFP gains achieved thus far have already eliminated most of the inefficiencies of central planning-and will therefore soon fade away. Underutilized labor combined with the recent trend of faster capital accumulation may play a more important role in the medium-term growth.

Series:

Working Paper No. 07/164

Subject:

English

Publication Date:

July 1, 2007

ISBN/ISSN:

9781451867282/1018-5941

Stock No:

WPIEA2007164

Format:

Paper

Pages:

34

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