Home

    About

    Open Access Repository

    SearchBrowse by ThemeBrowse by AuthorBrowse by TypeMost Popular Titles

    Other Resources

    Curators

    Events

    Contributing Think Tanks

    Networks

    Using Content

    FAQs

    Terms of Use

    13,800+ curated items from top Think Tanks.
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Home

    About

    Open Access Repository

    SearchBrowse by ThemeBrowse by AuthorBrowse by TypeMost Popular Titles

    Other Resources

    Curators

    Events

    Contributing Think Tanks

    Networks

    Using Content

    FAQs

    Terms of Use

    The Pillars of Potential Growth and the Role of Policy: A Panel Data Approach

    Lanzafame, Matteo; Felipe, Jesus; Sotocinal, Noli; Bayudan-Dacuycuy, Connie | May 2016
    Abstract
    Potential output growth generally decelerated after the global financial crisis during 2008–2009. This paper examines the possible determinants of potential output growth using Bayesian Model Averaging and assesses how the determinants can be used to increase the growth of potential output. It finds that the long-term growth of working-age population, the tertiary level gross enrollment ratio, the technology gap with the United States (US), labor market rigidity, trade openness, financial integration and the quality of institutions robustly affect potential output growth. Using Harrod’s definition of potential output growth as the sum of the long-run growth rates of the labor force and labor productivity, we find that the trend growth rate of working-age population is a good proxy variable for long-run labor force growth. Under this definition, the other determinants affect potential output growth through their impact on the growth of labor productivity. The paper finds support for the hypotheses that tertiary enrollment and trade openness affects potential output growth nonlinearly. It also finds that trade openness and tertiary enrollment have nonlinear effects on potential output growth, and that the technology gap with the US and financial integration have statistically significant interaction effects on potential output growth. Results suggest that reforms aimed at reducing the technology gap with the US and increasing the extent of financial integration have lower impact on countries with high-quality institutions.
    Citation
    Lanzafame, Matteo; Felipe, Jesus; Sotocinal, Noli; Bayudan-Dacuycuy, Connie. 2016. The Pillars of Potential Growth and the Role of Policy: A Panel Data Approach. © Asian Development Bank. http://hdl.handle.net/11540/8814.
    ISSN
    2313-6537 (Print)
    2313-6545 (e-ISSN)
    Keywords
    Comprehensive Development Framework
    Development Challenges
    Development Planning
    Millennium Development Goals
    Policy Development
    Program Evaluation
    Performance Evaluation
    Evaluation Criteria
    Human Capital Development
    Capital Market Development
    Development Economics
    Financial Sector Development
    Technology Development
    World Development Indicators
    Evaluation Methods
    Aid And Development
    Asian Development Bank
    Comprehensive Development Framework
    Development Cooperation
    Development Management
    Development Planning
    Development Strategies
    Development In East Asia
    Development Planning
    Development Research
    Performance Evaluation
    Evaluation Methods
    Evaluation
    Job Evaluation
    Staff Development
    Development assistance
    ADB
    Curriculum development
    Development assistance
    Development aid
    Development indicators
    Development potential
    Development models
    Project appraisal
    Performance appraisal
    Economic development
    Economic indicators
    Government programs
    Economic growth
    Economic policy
    Industrial development
    Industrial policy
    Technology assessment
    Economic evaluation
    Economic forecast
    Input output analysis
    Rural planning
    Aid coordination
    Industrial projects
    Infrastructure projects
    Natural resources policy
    Educational development
    Development strategy
    Development models
    Economic development
    Performance appraisal
    Needs assessment
    Input output analysis
    ADB
    Employment
    Performance appraisal
    Project failure
    Project impact
    Project appraisal
    Career development
    Vocational training
    Communication in rural development
    Communication in community development
    Infrastructure
    Central planning
    Endowment of research
    Partnership
    Joint venture
    Nation-building
    Risk assessment
    Economic development projects
    Economic forecasting
    Industrial research
    Participatory monitoring and evaluation
    Economic policy
    Economic forecasting
    Communication in rural development
    Communication in community development
    Economic development projects
    Development banks
    Economic forecasting
    Environmental auditing
    Cumulative effects assessment
    Human rights and globalization
    Participative management
    Grievance procedures
    Supervisors
    Vocational guidance
    Labor policy
    Rural manpower policy
    Career development
    Applications for positions
    Affirmative action programs
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/8814
    Metadata
    Show full item record
    Thumbnail
    ewp-482.pdf (1.917Mb)
    Author
    Lanzafame, Matteo
    Felipe, Jesus
    Sotocinal, Noli
    Bayudan-Dacuycuy, Connie
    Theme
    Development
    Evaluation
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise