Potential Output Growth in Emerging Market Countries: The Case of Chile
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...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
1997
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Schriftenreihe: | IMF Working Papers
Working Paper No. 97/104 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | 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 |
Beschreibung: | 1 Online-Ressource (26 p) |
ISBN: | 1451947976 9781451947977 |
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spelling | Roldos, Jorge Verfasser aut Potential Output Growth in Emerging Market Countries The Case of Chile Roldos, Jorge Washington, D.C International Monetary Fund 1997 1 Online-Ressource (26 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 97/104 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 Online-Ausg http://elibrary.imf.org/view/IMF001/05361-9781451947977/05361-9781451947977/05361-9781451947977.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Roldos, Jorge Potential Output Growth in Emerging Market Countries The Case of Chile |
title | Potential Output Growth in Emerging Market Countries The Case of Chile |
title_auth | Potential Output Growth in Emerging Market Countries The Case of Chile |
title_exact_search | Potential Output Growth in Emerging Market Countries The Case of Chile |
title_exact_search_txtP | Potential Output Growth in Emerging Market Countries The Case of Chile |
title_full | Potential Output Growth in Emerging Market Countries The Case of Chile Roldos, Jorge |
title_fullStr | Potential Output Growth in Emerging Market Countries The Case of Chile Roldos, Jorge |
title_full_unstemmed | Potential Output Growth in Emerging Market Countries The Case of Chile Roldos, Jorge |
title_short | Potential Output Growth in Emerging Market Countries |
title_sort | potential output growth in emerging market countries the case of chile |
title_sub | The Case of Chile |
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