Hidden Bibliographic Details
| Other authors / contributors: | Fayad, Ghada, 1981-
International Monetary Fund.
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| ISBN: | 9781475511376
147551137X
9781475510621
1475510624
9781475511284
1475511280
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| Notes: | Title from PDF title page (IMF Web site, viewed Sept. 18, 2012).
"Prepared by Ghada Fayad [and three others]"--Page 2 of pdf.
"September 2012."
"June 13, 2012"--Page 2 of pdf.
Includes bibliographical references.
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| Summary: | This chapter reviews developments in GDP over the past several decades. The analysis shows that accumulation of labor and capital explains the bulk of overall output growth since 1990, with changes in total factor productivity playing only a minor role. Moreover, while increases in total factor productivity (TFP) during 1990-2009 have been close to the worldwide average, the pace of TFP growth fell during the 2000s. This suggests scope for increasing the efficiency of factor markets and highlights the importance of recent reforms to promote knowledge-based activity.
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