Publication:
The Long Term Growth Model: Fundamentals, Extensions, and Applications

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dc.contributor.editorLoayza, Norman V.
dc.contributor.editorPennings, Steven
dc.date.accessioned2022-11-11T14:45:54Z
dc.date.available2022-11-11T14:45:54Z
dc.date.issued2022
dc.description.abstractThe Long-Term Growth Model (LTGM) and its extensions are a suite of models and spreadsheet-based toolkits for analyzing future growth paths in developing countries, based on the Solow-Swan growth model. This volume, The Long-Term Growth Model: Fundamentals, Extensions, and Applications, is a collection of ten chapters that summarize the development of the LTGM over the last decade, and how it has been applied in practice. The volume starts with a description of the Standard LTGM, the simplest and easiest-to-use component of the LTGM suite. It then outlines several extensions to the basic model in important areas such as the implications of growth for poverty (built into the Standard LTGM), the effects of public capital, the determinants of total factor productivity (TFP) growth, and how growth drivers differ in natural resource rich economies. The final part of the book covers six case studies which apply the LTGM in a diverse range of countries: Malaysia, South Korea, Bangladesh, Syria, Egypt, and Sri Lanka. Although growth performances, constraints, and opportunities vary across country contexts, the LTGM framework outlined in this volume, analyzing future growth in terms of TFP, human capital, physical capital, and labor, is universally relevant. The chapters in the volume typically find that popular investment-led growth strategies are unsustainable in the long-run (including those growth strategies relying solely on high rates of public investment). This is mostly due to a declining marginal productivity of capital, though financing high investment rates without high savings rates is also a practical concern. Instead, they find that the most important driver of sustainable rapid long-run growth is productivity (TFP) growth.en
dc.identifierhttp://documents.worldbank.org/curated/en/099627211072228496/IDU052ad90a40e67f040f80ab3b0cfbec815be8d
dc.identifier.doi10.1596/38299
dc.identifier.urihttps://hdl.handle.net/10986/38299
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectLONG TERM GROWTH MODEL
dc.subjectLTGM
dc.subjectFUTURE GROWTH PATHS
dc.subjectSCENARIOS
dc.subjectEFFECTS ON POVERTY
dc.titleThe Long Term Growth Modelen
dc.title.subtitleFundamentals, Extensions, and Applicationsen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleThe Long Term Growth Model
okr.date.disclosure2022-11-07
okr.date.doiregistration2025-05-07T09:40:44.807421Z
okr.date.lastmodified2022-11-07T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Other ESW Reports
okr.docurlhttp://documents.worldbank.org/curated/en/099627211072228496/IDU052ad90a40e67f040f80ab3b0cfbec815be8d
okr.guid099627211072228496
okr.identifier.externaldocumentumIDU-52ad90a4-e67f-40f8-ab3b-cfbec815be8d
okr.identifier.internaldocumentum33932471
okr.identifier.report177580
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099627211072228496/pdf/IDU052ad90a40e67f040f80ab3b0cfbec815be8d.pdfen
okr.region.geographicalWorld
okr.topicMacroeconomics and Economic Growth::Economic Forecasting
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.unitDECRG: Macroeconomics & Growth (DECMG)
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