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Mr. Jean-Claude Berthélemy and Mr. Ludvig Söderling

the “other” column. In Burkina Faso and Mali, which have virtually no industrial capacity, it seems this impact has not been strong enough to compensate for other sources of TFP decline in 1995 and 1996. Our numbers should however be interpreted with caution, because they are computed on a very short period and therefore are very sensitive to the consequences of possible measurement errors. Among structural change indicators, human capital accumulation seems to have played a more important role in the earlier periods than in recent growth episodes. However, one

International Monetary Fund. Western Hemisphere Dept.

what other studies have found for Ecuador (e.g., Alvarado, 2020 ). Ecuador: Potential Real GDP Growth Estimates (In percent) Source: BCE, Haver Analytics, and IMF staff calculations. 5. The slowdown in potential growth was driven by TFP decline on the supply side . Weak aggregate demand and rigid labor markets implied any hit to factors of production would first take place through TFP decline, with slower subsequent capital accumulation. This indeed occurred in Ecuador, with TFP taking the brunt of the fall over 2015–2019. While the contribution of

International Monetary Fund. European Dept.

A Firm-Level Analysis of Labor Productivity in the United Kingdom 1 This chapter analyzes the post-recession labor productivity slowdown in the UK using firm-level data. Growth accounting suggests that the main cause of the slowdown was a broad-based decline in total factor productivity (TFP), while lessened capital accumulation has not played a major role. The TFP decline may be partly due to increased resource misallocation, which contributed approximately two-fifths of a percentage point annually to the slowdown, but this result is not highly robust

Mr. Brou E Aka, Mr. Bernardin Akitoby, Mr. Amor Tahari, and Mr. Dhaneshwar Ghura
Analysis of 1960-2002 data shows that average real GDP growth in sub-Saharan Africa was low and decelerated continuously before starting to recover in the second part of the 1990s. Growth was driven primarily by factor accumulation with little role for total factor productivity (TFP) growth. The recent pickup in economic growth was accompanied by an increase in TFP growth, namely in the group of countries whose IMF-supported programs were judged to be on track. Average annual growth in the region, at 3½ percent during 1997-2002, is less than half of the estimated growth needed to halve the fraction of population living below $1 per day between 1990 and 2015, one of the Millennium Development Goals.