## IMF Staff Papers, Volume 50, No. 2

_IMF Staff Papers, July 11, 2003_

## Source details

**Canonical URL:** [IMF Staff Papers, Volume 50, No. 2](https://www.imf.org/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-50-no-16308)

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## Bibliographic details
- Authors: Robert P Flood
- Published: July 11, 2003
- Series: IMF Staff Papers
- Volume: 50
- DOI: https://doi.org/10.5089/9781589062023.024

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### Study focus and context
- Examines sources of economic growth in East Asia.
- Critiques the conventional growth-accounting approach for requiring unrealistically strong assumptions about either competitiveness of factor markets or the form of the underlying aggregate production function.
- Outlines a new approach utilizing nonparametric derivative estimation techniques that does not require imposing these restrictive assumptions.

### Methodology
- Introduces nonparametric derivative estimation techniques as an alternative to parametric growth-accounting methods.
- Emphasizes avoiding restrictive assumptions on factor-market competitiveness and the aggregate production function.

### Key findings
- Output elasticities of capital and labor tend to be different from the income shares of these factors for East Asian countries.
- The paper explores the compensating potential of private intergenerational transfers.

### Subject areas and keywords
- Subject: Aging, Balance of payments, Current account deficits, Demographic change, Financial crises, Financial institutions, Population and demographics, Production, Stocks, Total factor productivity
- Keywords: Africa, Aging, Current account deficits, East Asia, financing constraint, Global, government benevolence, incumbent government, investment function, market distortion, North America, ruling elite, SP, Stocks, Sub-Saharan Africa, Total factor productivity

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_Source: https://www.imf.org/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-50-no-16308_