Alternative Estimates of Productivity Growth in the NICs: A Comment on the Findings of Chang-Tai Hsieh /
Young, Alwyn.
Alternative Estimates of Productivity Growth in the NICs: A Comment on the Findings of Chang-Tai Hsieh / Alwyn Young. - Cambridge, Mass. National Bureau of Economic Research 1998. - 1 online resource: illustrations (black and white); - NBER working paper series no. w6657 . - Working Paper Series (National Bureau of Economic Research) no. w6657. .
July 1998.
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.
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Mode of access: World Wide Web.
Alternative Estimates of Productivity Growth in the NICs: A Comment on the Findings of Chang-Tai Hsieh / Alwyn Young. - Cambridge, Mass. National Bureau of Economic Research 1998. - 1 online resource: illustrations (black and white); - NBER working paper series no. w6657 . - Working Paper Series (National Bureau of Economic Research) no. w6657. .
July 1998.
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.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.