Potential Growth in Emerging Asia

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Price:  $18.00

Author/Editor: Rahul Anand, Kevin C Cheng, Sidra Rehman, Longmei Zhang
Release Date: © January, 2014
ISBN : 978-1-48434-572-6
Stock #: WPIEA201402
English
Stock Status: On back-order

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Description

Using three distinct approaches—statistical filtering, production function, and multivariate model— this paper estimates potential growth for China, India, and five ASEAN countries (Indonesia, Malaysia, the Philippines, Thailand, and Vietnam) during 1993–2013. The main findings include: (i) both China and India have recently exhibited a slowdown in potential growth, largely reflecting a decline of total factor productivity (TFP) growth; (ii) by contrast, trend growth for the five ASEAN countries has been rather stable and might even have increased marginally, with the notable exception of Vietnam;(iii) over the longer term, demographic factors will be much more supportive in India and some ASEAN economies than in China, where working-age population should start shrinking, with the overall dependency ratio climbing by the end of this decade. Improving or sustaining potential growth calls for broad structural reforms.




More publications in this series: Working Papers


More publications by: Rahul Anand ; Kevin C Cheng ; Sidra Rehman ; Longmei Zhang