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 paper provides estimates of the impact of demographic change on labor productivity growth, relying on annual data over 1961-2018 for a panel f 90 advanced and emerging economies. We find that increases in both the young and old population shares have significantly negative effects on labor...

We study the origins of labor productivity growth and its differences across sectors. In our model, sectors employ workers of different occupations and various forms of capital, none of which are perfect substitutes, and technology evolves at the sector-factor cell level. Using the model we...