We review the growth experience of middle-income countries. Economic factors associated with growth appear to differ between middle income and other countries. The efficiency of the financial system is importantly related to the growth rate in low- and middle-income countries, but appears to...

We examine the importance of total factor productivity (TFP) growth in middle-income countries based on cross-country panel data for the period 1975-2014. We find that TFP growth contributed significantly to a country’s upward transition from middle-income to high-income country group. The TFP...

"This study reviews and analyzes the changes in total factor productivity (TFP) growth in 12 Asian economies - the People's Republic of China; Hong Kong, China; India; Indonesia; the Republic of Korea; Malaysia; Pakistan; the Philippines; Singapore; Taipei,China; Thailand; and Viet Nam - for the period...

While developing Asia has recovered strongly from the global crisis, the region faces the medium- and long-term challenge of sustaining growth beyond the crisis. The central objective of this paper is to empirically investigate the sources of economic growth in 12 developing Asian economies...

The demographic dividend that contributed substantially to economic growth in developing Asia in the past is dissipating. Population aging affects growth through savings, capital accumulation, labor force participation, and total factor productivity. We examined the impact of aging on those four...

The maturing of the manufacturing sector in many Asian countries, combined with the relative backwardness of its service sector, has made service sector development a top priority for developing Asia. Our central objective is to broadly survey and analyze the current landscape of the region's...

We apply a stochastic frontier production model to data from 53 countries during 1991-2003 to estimate total factor productivity growth, and decompose it into technical efficiency change and technical progress. Our empirical results indicate that world productivity growth was led by fast-growing...

Productivity growth has flat-lined in most economies despite rapid advances in technology. Economists suggest competing explanations for this paradox. Some argue the current stagnation will persist given deep structural challenges, arguing that recent technological advances are no match for...

While there are growing concerns about population aging, some studies explore the possibility that population aging can give rise to a silver dividend that contributes to economic growth (ADB 2019). While the demographic dividend refers to the increase of the working-age population, the silver...