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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 statistically significant information for predictin...

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Bibliographic Details
Main Author: Arora, Vivek
Other Authors: Bhundia, Ashok
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2003
Series:IMF Working Papers
Subjects:
Output Gap
Macroeconomics: Production
Production
Production And Operations Management
Economywide Country Studies: Africa
Aggregate Productivity
Potential Output
Cost
Capacity
Economic Theory
Macroeconomics
Production Growth
Economic Growth And Aggregate Productivity: General
Cross-country Output Convergence
Capital And Total Factor Productivity
Industrial Capacity
Capacity Utilization
Total Factor Productivity
Industrial Productivity
Measurement Of Economic Growth
South Africa
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary: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
Physical Description:21 pages
ISBN:9781451858976

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