Abdychev, Aidar; Jirasavetakul, La-Bhus Fah; Jonelis, … - International Monetary Fund (IMF) - 2015
macroeconomic stability and trade openness are necessary for productivity growth, they are not sufficient. SMICs need to improve the … contribution of total factor productivity (TFP) to growth is largely responsible for the slowdown in trend growth in many SMICs …, which highlights the need for policy actions to reinvigorate productivity growth. This paper explores the question of what …