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Growth of the Korean economy has been sluggish, and this situation is more pronounced in the service sector. We argue that capital misallocation, especially in the service sector, could contribute to this slowdown. Utilizing firm and sectoral level data, first we assess the rising dispersion of...
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This paper deals with some structural indicators and their evolution, in China and regions, over the period 1981 … changes in the contribution of capital productivity, capital intensity and labour participation to the growth rate of output …, decomposition to assess both the contribution of both capital productivity and capital intensity to total factor productivity (TFP …
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One of the key determinants of potential growth are productivity gains. Total factor productivity (TFP) differences are …: the aggregate productivity loss from microeconomic distortions that prevent factors of production from being allocated to … key driver of productivity gains. Since distortions preventing misallocation can be driven by institutional obstacles …
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