Potential Output Growth in Emerging Market Countries

Potential Output Growth in Emerging Market Countries
Author :
Publisher : International Monetary Fund
Total Pages : 26
Release :
ISBN-13 : 9781451947977
ISBN-10 : 1451947976
Rating : 4/5 (76 Downloads)

Book Synopsis Potential Output Growth in Emerging Market Countries by : Mr.Jorge Roldos

Download or read book Potential Output Growth in Emerging Market Countries written by Mr.Jorge Roldos and published by International Monetary Fund. This book was released on 1997-09-01 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates potential output and the sources of growth in Chile during 1970-96. Actual output is cointegrated with the quality-adjusted measures of capital and labor, and constant returns to scale cannot be rejected. The estimates of potential output show a positive output gap in the years when the Chilean economy was deemed to be overheated. In 1986-90, the quality-adjusted labor variable explains close to 60 percent of the growth rate of GDP, while during 1991-95 capital formation plays a dominant role. The contribution of TFP growth in Chile is relatively small, but, based on a comparison with European and East Asian experiences, it is expected to increase in the medium term.


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