This study examines the nature of the growth process in the ASEAN countries, and particularly whether it has been generated primarily by more inputs or by productivity gains. It uses internationally comparable data and explores an alternative method for estimating the capital and labor factor...

Intro -- Contents -- I. INTRODUCTION -- II. THE BUILDING BLOCKS -- III. LEVEL AND VOLATILITY OF MACROECONOMIC OUTCOMES -- IV. MAGNITUDE AND VOLATILITY OF SHOCKS -- V. MACROECONOMIC POLICY VOLATILITY -- VI. STRUCTURAL POLICY VOLATILITY AND REFORM REVERSALS -- VII. CONSTRAINTS FACED BY...