This paper studies structural changes underlying China's remarkable and unprecedented growth in recent years. While patterns of structural transformation across China's provinces are broadly in line with international experience, one important difference is in labor productivity differentials...

This note is on Korea’s transition to a knowledge-based economy, the prospects and challenges ahead, and the development of its financial sector. Assessment of recent government initiatives to develop capital markets has been presented. The note discusses restrictions on Chaebol ownership...

To get a more accurate picture of China’s economy, economists examine other measures of activity that closely track growth but are less prone to political interference than output data. Industrial electricity consumption, a major production input, serves as such a proxy.

This paper examines and analyses the TFPG performance of individual service industries in Singapore. TFPG of services were highly cyclical, indicating the overwhelming vagaries of external demand in this small and open economy. Although the TFPG of most services were dismal during 1976-93, the...

This paper examines and analyses the TFPG performance of individual service industries in Singapore. TFPG of services were highly cyclical, indicating the overwhelming vagaries of external demand in this small and open economy. Although the TFPG of most services were dismal during 1976‐93, the...

This chapter covers the theory and methods for productivity measurement for nations. Labor, multifactor and total factor productivity measures are defined and are related to each other and to gross domestic product (GDP) per capita. Their growth over time and relative counterparts are defined as...

Investments form the basis for high-quality economic growth by ensuring renewal of production capacities and improvement of technologies and processes, thereby increasing labor productivity. Investment research is key to understanding its impact on the country’s economic advancement and more...