Alternative Estimates of Productivity Growth in the NICs: A Comment on the Findings of Chang-Tai Hsieh / Alwyn Young.

Format:

Book

Author/Creator:

Young, Alwyn.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w6657.

NBER working paper series no. w6657

Language:

English

Subjects (All):

Employee selection--Econometric models.

Employee selection.

Industrial productivity--Measurement--Econometric models.

Industrial productivity.

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Alternative Estimates of Productivity Growth in the NICs

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1998.

Cambridge, Massachusetts : National Bureau of Economic Research, 1998.

Summary:

Dual estimates of productivity growth by Chang-Tai Hsieh have raised questions about the accuracy of the East Asian national accounts, suggesting that productivity growth in the NICs, particularly Singapore, may have been substantially higher than previously estimated. This paper shows that once one corrects for computational and methodological errors, dual estimates, using Hsieh's own data, are not that far removed from the results implied by primal sources. Further, Hsieh's criticisms of the accuracy of the national accounts capital formation figures are shown to be invalid. Finally, other data exist which support the picture of declining real rentals painted by the national accounts capital formation figures.

Notes:

Print version record

July 1998.