The sources of long-term economic growth in Indonesia, 1880-2008
This paper presents new time series estimates of GDP, capital stock and education-adjusted employment, and uses a growth accounting approach to analyze GDP growth during 1880-2008. The growth of capital stock, employment and educational attainment explained almost all of GDP growth. During key growth periods 1900-29 and 1975-97, Total Factor Productivity (TFP) growth was on balance negative. TFP growth was substantial during some sub-periods, particularly 1933-41, 1951-61, 1967-74 and 2000-08. Each followed a major economic downturn that slowed capital stock growth and required a more efficient use of productive resources, supported by changes in economic policy that enhanced productivity and efficiency.
Year of publication: |
2010
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Authors: | van der Eng, Pierre |
Published in: |
Explorations in Economic History. - Elsevier, ISSN 0014-4983. - Vol. 47.2010, 3, p. 294-309
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Publisher: |
Elsevier |
Keywords: | Economic growth Growth accounting Factor accumulation Productivity Indonesia |
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