Potential Output and total Factor Productivity Growth in Post-Apartheid South Africa
| Autor: | Ashok Bhundia, Vivek B. Arora |
|---|---|
| Rok vydání: | 2003 |
| Předmět: |
Real gross domestic product
Output gap Economics General Earth and Planetary Sciences Production (economics) Capacity utilization General Economywide Country Studies: Africa [Potential output South Africa Total factor productivity output gap tfp inflation real gdp gdp growth Economic Growth and Aggregate Productivity] Growth accounting Monetary economics Potential output Free trade General Environmental Science |
| Popis: | This paper provides estimates of potential output growth in post-apartheid South Africa using both time trend techniques and a production function approach which indicates a potential growth rate of around 3 percent. The implied output gap provides statistically significant information for predicting inflation and could thus provide valuable input for formulating macroeconomic policy. Growth accounting and regression analysis suggest that an increase in trend GDP growth after the end of apartheid in 1994 is attributable to higher TFP growth driven by trade liberalization and greater private sector participation. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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