Felipe, Jesus
Results 1-10 of 37
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The Illusions of Calculating Total Factor Productivity and Testing Growth Models From Cobb–Douglas to Solow and Romer
(Asian Development Bank, 2019-10-30)This paper shows that because growth models in the tradition of Solow’s and Romer’s are framed in terms of production functions, they are equally subject to a criticism developed by, among others, Phelps Brown (1957), Simon (1979a), and Samuelson (1979). ... -
Is Employment Globalizing?
(Asian Development Bank, 2018-09-15)We investigate the claim that national labor markets have become more globally interconnected in recent decades. We do so by deriving estimates over time of three different notions of interconnection: (i) the share of labor demand that is export induced ... -
The People’s Republic of China’s Long-Run Growth through the Lens of the Export-Led Growth Model
(Asian Development Bank, 2018-08-30)The People’s Republic of China’s (PRC) remarkable growth performance over the last 3 decades has been associated to very robust export growth, so much so that many refer to it as a clear example of export-led growth (ELG). Using the concept of the ... -
Asia’s Industrial Transformation: The Role of Manufacturing and Global Value Chains (Part 2)
(Asian Development Bank, 2018-07-15)This paper argues that the single most important factor that explains East Asia’s development success was its fast structural transformation toward industrialization, manufacturing in particular. Workers moved out of agriculture into manufacturing, and ... -
Asia’s Industrial Transformation: The Role of Manufacturing and Global Value Chains (Part 1)
(Asian Development Bank, 2018-07-15)This paper argues that the single most important factor that explains East Asia’s development success was its fast structural transformation toward industrialization, manufacturing in particular. Workers moved out of agriculture into manufacturing, and ... -
Why Has the Philippines’ Growth Performance Improved? From Disappointment to Promising Success
(Asian Development Bank, 2018-04-15)This paper analyzes why the Philippines’ growth performance has improved significantly in recent years. As in the medium to long term actual growth adjusts to potential, we posit that the reason behind this improvement is that the country’s potential ... -
The Debate about the Sources of Growth in East Asia after a Quarter of a Century: much ado about nothing
(Asian Development Bank, 2017-05-30)This paper reviews what the profession has learned during the last 25 years about East Asia’s growth using growth accounting exercises and estimations of production functions. The publication of Alwyn Young’s (1992, 1994, 1995) and Jong-Il Kim and ... -
The Debate about the Sources of Growth in East Asia after a Quarter of a Century: much ado about nothing
(Asian Development Bank, 2017-05-30)We revisit the lively debate about the sources of growth in East Asia of the 1990s, generated by the wellknown papers by Alwyn Young and Paul Krugman. We show that the methodologies used to apportion growth were problematic, with the consequence that ... -
The Pillars of Potential Growth and the Role of Policy: A Panel Data Approach
(Asian Development Bank, 2016-05-30)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 ... -
The Impact of Financial Factors on the Output Gap and Estimates of Potential Output Growth
(Asian Development Bank, 2015-10-06)The authors examine the impact of financial factors on estimates of the output gap and potential output growth for the G-5 and 10 high- and middle-income Asian economies. Using a state-space model of the output gap with exogenously determined financial ...