{
  "title": "Rapid Growth in Transition Economies: Growth-Accounting Approach",
  "publication": "IMF Working Papers, July 1, 2007",
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  "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.",
  "sections": [
    {
      "heading": "Summary and central findings",
      "content": "- The paper uses the growth-accounting approach to determine the sources of growth in transition economies.\n- 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.\n- 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.\n- Underutilized labor combined with the recent trend of faster capital accumulation may play a more important role in the medium-term growth."
    },
    {
      "heading": "Major themes and analytical focus",
      "content": "- Growth-accounting methodology applied to transition economies.\n- Comparison of TFP growth in the former Soviet Union republics versus other fast-growing economies.\n- Examination of the roles of:\n  - Underutilized labor\n  - Capital accumulation\n  - Technical efficiency and physical capital\n- Consideration of whether past TFP gains reflect one-time catch-up versus sustainable productivity improvements."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subjects: Capacity utilization, Labor, Production growth, Productivity, Total factor productivity\n- Keywords: CIS country, physical capital, technical efficiency, TFP growth, WP"
    },
    {
      "heading": "Policy implications and considerations",
      "content": "- Monitor whether TFP growth in former Soviet republics represents residual catch-up from central-planning inefficiencies or sustainable efficiency gains.\n- Consider policy measures that address:\n  - Labor underutilization to support medium-term growth.\n  - Continued capital accumulation to complement productivity improvements.\n- Analytical priority: distinguish one-off TFP gains from persistent productivity drivers when forecasting prospective growth.\n\nIMF Working Paper — \"Rapid Growth in Transition Economies: Growth-Accounting Approach\" by Garbis Iradian, July 1, 2007.\n\n---\n\n Content in this bundle\n\n- wp07164\n  - wp07164 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp07164 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/rapid-growth-in-transition-economies-growth-accounting-approach-21162"
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    "Authors: Garbis Iradian",
    "Published: July 1, 2007",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451867282.001",
    "The 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.",
    "Growth-accounting methodology applied to transition economies.",
    "Comparison of TFP growth in the former Soviet Union republics versus other fast-growing economies.",
    "Examination of the roles of:",
    "Consideration of whether past TFP gains reflect one-time catch-up versus sustainable productivity improvements.",
    "Subjects: Capacity utilization, Labor, Production growth, Productivity, Total factor productivity",
    "Keywords: CIS country, physical capital, technical efficiency, TFP growth, WP",
    "Monitor whether TFP growth in former Soviet republics represents residual catch-up from central-planning inefficiencies or sustainable efficiency gains.",
    "Consider policy measures that address:",
    "Analytical priority: distinguish one-off TFP gains from persistent productivity drivers when forecasting prospective growth.",
    "**_wp07164**"
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