The estimates of productivity growth reported here show the contribution of various components of aggregate demand, including the positive role of low unemployment. The estimated equation was based on a model of growth and transformation, and was estimated using the longest period for which...

In recent years there has been a revival of interest in the trade-growth nexus. A number of authors have suggested that regional economic integration and liberalization of international trade are likely to have positive effects not only on productivity levels but also on long-term productivity...