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Wednesday, July 29, 2020 | History

2 edition of Potential output and total factor productivity growth in post-apartheid South Africa found in the catalog.

Potential output and total factor productivity growth in post-apartheid South Africa

Vivek Arora

Potential output and total factor productivity growth in post-apartheid South Africa

by Vivek Arora

  • 152 Want to read
  • 36 Currently reading

Published by International Monetary Fund, African Department in Washington, D.C .
Written in English

    Subjects:
  • Industrial productivity -- South Africa.,
  • Inflation (Finance) -- South Africa -- Forecasting.,
  • Production functions (Economic theory),
  • South Africa -- Economic policy.

  • Edition Notes

    StatementVivek Arora and Ashok Bhundia.
    GenreSouth Africa
    SeriesIMF working paper -- WP/03/178
    ContributionsBhundia, Ashok., International Monetary Fund. African Dept.
    The Physical Object
    Pagination20 p. :
    Number of Pages20
    ID Numbers
    Open LibraryOL19402607M

    a. labor productivity growth b. population growth c. agricultural production growth If actual output is equal to potential output and the Fed increases the money supply so that actual output exceeds potential output, eventually nominal wages will: Total factor productivity is a measure of the. agricultural productivity in South Africa and an indication of why the report has Total agricultural productivity then it became stagnant due to declining output growth and increasing use of inputs around (Conradie et al,).

    percent of total exports. In , million tourists visited South Africa, contributing 3 the risk of lower potential output due to population aging and lower total factor productivity. Home > Global Economic Prospects > Global Economic Prospects, January Broad-Based Upturn, but for How Long?

      South Africa may be the dominant force in Africa's wine economy, but other countries are making inroads in the industry. Africa's mega projects updated AM EDT, Thu Octo   South Africa's sectoral structure has close affinities with the characteristics of developed economies, rather than emerging markets. Despite the fact that South Africa continues to lag developed countries substantially in terms of per capita GDP, its growth remains low, and shows signs of secular stagnation rather than catch-up (see Fedderke and .


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Potential output and total factor productivity growth in post-apartheid South Africa by Vivek Arora Download PDF EPUB FB2

Contributions to growth in post-apartheid South Africa (–). It also investigates trends in factor intensity, potential output growth and the output gap in the period. The study finds that total factor productivity (TFP) remained the dominant source of economic growth. Downloadable. 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. 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. Potential Output and Total Factor Productivity Growth in Post-Apartheid South Africa Article (PDF Available) November with 79 Reads How we measure 'reads'.

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 o #IMFBookstore. Potential Output and total Factor Productivity Growth in Post-Apartheid South Africa.

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. Downloadable.

This study conducts an economic growth decomposition exercise to measure factorcontributions to growth in post-apartheid South Africa (–). It also investigates trends in factor intensity, potential output growth and the output gap in the period.

The study finds that total factor productivity (TFP) remained the dominant source of economic growth. This chapter examines South Africa’s growth performance since within a growth-accounting framework, and assesses growth prospects going forward.

1 Near-term prospects can be captured by potential output growth and the output gap (the difference between actual and potential output). Together with other indicators, this can provide an indication of the intensity. South Africa’s growth performance has strengthened substantially since the end of apartheid in Estimates of potential output growth based on alternative methodologies, including a standard production function approach, suggest that during – the rate of potential output growth increased to 3 percent.

An In-Depth Look at Economic Growth and Employment in Post-Apartheid South Africa: Klein () provided an assessment of the South African potential output growth for the period – by applying percent or more of South Africa’s subsequent economic recovery can be attributed to total factor productivity growth.

Re latively little work exists on potential output in post-apartheid South enhances total factor productivity in South Africa. In so doing, panel data of district-municipalities and spatial.

This book provides a comprehensive review of recent economic developments in South Africa and the structural and policy challenges facing the authorities. Individual papers examine a range of topics such as unemployment and the labor market, recent trends in the private saving rate, the role of foreign direct investment in the development of South Africa's economy, the human.

Potential Output and Total Factor Productivity Growth in Post-Apartheid South Africa Prepared by Vivek Arora and Ashok Bhundia1 Authorized for distribution by Doris C. Ross September Abstract The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy.

Get this from a library. Potential output and total factor productivity growth in post-apartheid South Africa. [Vivek Arora; Ashok Bhundia; International Monetary Fund. African Department.] -- 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.

Given the concern about the low growth rates in African countries, this paper deals with the issue of how to increase the said growth rates by using South Africa as a case study. This paper attempts to answer this question by examining the determinants of total factor productivity (TFP)and productivity growth.

We utilise the theoretical insights from the Solow () growth. Total factor productivity (TFP) is a measure of productivity calculated by dividing economy-wide total production by the weighted average of inputs i.e.

labor and capital. It represents growth in real output which is in excess of the growth in inputs such as labor and capital. Productivity is a measure of the relationship between outputs (total product) and.

Productivity describes various measures of the efficiency ofa productivity measure is expressed as the ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. Most common example is the (aggregate) labour productivity measure, e.g., such as GDP.

A more plausible basis for a counter-factual is an extrapolation of pre-crisis trends of potential output, where potential output is an estimate of a sustainable measure of GDP [1].

The difference between these two approaches is first illustrated by considering the OECD countries as a group and using aggregated measures of potential output that. [3] Arora, V. and Bhundia, A. (): "Potential output and total factor productivity growth in post-Apartheid South Africa," IMF Working Paper No.

03/ Washington, USA. [4] Aschauer, D. (): "Is public expenditure productive?". South Africa’s electricity shortage has constrained growth, and, despite new capacity, another shortfall is projected between and Natural-gas plants—which are fast to build, entail low capital costs, and have a small carbon footprint—can provide an alternative to diversify the power supply.

Development strategies in post-apartheid South Africa GEAR stresses the need for sustained and high levels of growth to be achieved through Ma competitive outward-oriented economy" (Department of Finance ).

Based on an econometric model,7 the document offers two sets of projections for the period The base scenario offers a.reflected in very strong estimated values for potential growth for South Africa in the study, of at least %.

In evaluating our own results, we will return to a consideration of the significance of the period, and its role in interpreting the potential growth of the South African economy.We commonly focus on labour productivity measured by output per person employed or output per person hour.; A better measure of productivity growth is total factor productivity which takes into account changes in the amount of capital to use and also changes in the size of the labour force.; If the size of the capital stock grows by 3% and the employed workforce expands by 2% and output .