Measuring productivity growth in Asia
Subtitle: do market imperfections matter?
By: John Fernald and Brent Neiman.
Contributors: Neiman, Brent.
Series: Working paper series ;; WP-2003-15; Working paper series (Federal Reserve Bank of Chicago. Research Dept. : Online) ;; WP-2003-15.
Publisher: Federal Reserve Bank of Chicago
Published: 2003
Place of publication: [Chicago, Ill.]
Language: eng
Format: Electronic resource
Description: "Recent research reports contradictory estimates of productivity growth for the newly industrialized economies (NIEs) of Asia.  In particular, estimates using real factor prices find relatively rapid TFP growth; estimates using quantities of inputs and output find relatively low TFP growth.  The difference is particularly notable for Singapore, where the difference is about 2-1/4 percentage-points per year.  We show that about 2/3 of that difference reflects differences in estimated capital payments.  We argue that these differences reflect economically interesting imperfections in output and capital markets, including sizeable economic profits in Singapore and government-directed credit.  We derive a measure of technology growth, corrected for the imperfections that we quantify"--Federal Reserve Bank of Chicago web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 10/1/2004.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.