Potential Output and total Factor Productivity Growth in Post-Apartheid South Africa [electronic resource] / Vivek B Arora.
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TextSeries: IMF Working Papers; Working Paper ; No. 03/178Publication details: Washington, D.C. : International Monetary Fund, 2003Description: 1 online resource (21 p.)ISBN: 1451858973 :ISSN: 1018-5941Subject(s): Economic Growth and Aggregate Productivity: General | Economywide Country Studies: Africa | GDP Growth | Inflation | Output Gap | Real GDP | South AfricaAdditional physical formats: Print Version:: Potential Output and total Factor Productivity Growth in Post-Apartheid South AfricaOnline resources: IMF e-Library | IMF Book Store Abstract: 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.
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.
Description based on print version record.
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