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TFP Growth and Structural Change in Transition Economies a discussion of the paper by El-hadj Bah and Josef Brada. Athanasios Vamvakidis 14 th Dubrovnik Economic Conference. A challenging task. Estimating TFP growth for transition economies is a challenge: Short time series

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TFP Growth and Structural Change in Transition Economiesa discussion of the paper by El-hadj Bah and Josef Brada

Athanasios Vamvakidis

14th Dubrovnik Economic Conference

a challenging task
A challenging task
  • Estimating TFP growth for transition economies is a challenge:
    • Short time series
    • Measurement errors
    • Structural breaks
    • No data for capital stock
    • Structural transformation
paper s contribution
Paper’s contribution
  • TFP estimates “without resource to capital stock data,” using sectoral employment and GDP per capita data
  • Sectoral estimates to explicitly address structural transformation
what have we learned
What have we learned?
  • Transition economies have lower TFP than Austria
  • They are caching up, but not always and not very fast
  • Structural transformation (inter-sectoral movement of labor) does not play a large role
potential problems
Potential problems
  • Can one use the US parameters for transition economies?
  • Not clear how the initial and subsequent capital stocks were estimated: I would not be able to replicate it based on what is in the paper
  • Other studies find a large growth contribution of TFP growth in transition economies
  • Why use Austria for comparisons and not the euro area average?
related work
Related work

IMF, “Regional Economic Outlook, Europe,” April 2008, Chapter 3

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