TY  - JOUR
AU  - Young,Alwyn
TI  - Alternative Estimates of Productivity Growth in the NICs:  A Comment on the Findings of Chang-Tai Hsieh
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 6657
PY  - 1998
Y2  - July 1998
UR  - http://www.nber.org/papers/w6657
L1  - http://www.nber.org/papers/w6657.pdf
N1  - Author contact info:
Alwyn Young
London School of EconomicsAB  - Dual estimates of productivity growth by Chang-Tai Hsieh have raised questions about the accuracy of the East Asian national accounts, suggesting that productivity growth in the NICs, particularly Singapore, may have been substantially higher than previously estimated.  This paper shows that once one corrects for computational and methodological errors, dual estimates, using Hsieh's own data, are not that far removed from the results implied by primal sources.  Further, Hsieh's criticisms of the accuracy of the national accounts capital formation figures are shown to be invalid.  Finally, other data exist which support the picture of declining real rentals painted by the national accounts capital formation figures.
ER  -