Productivity or Endowments? Sectoral Evidence for Hong Kong's Aggregate Growth

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collection.link.5
https://openknowledge.worldbank.org/handle/10986/9
collection.name.5
Policy Research Working Papers
dc.contributor.author
Hiau Looi Kee
dc.date.accessioned
2014-08-11T21:30:15Z
dc.date.available
2014-08-11T21:30:15Z
dc.date.issued
2002-09
dc.date.lastModified
2021-04-23T14:03:42Z
dc.description.abstract
The author provides sectoral evidence that sheds new light on the current debate regarding the sources of growth of the East Asian miracle. The author tests both the productivity-driven and endowment-driven hypotheses using Hong Kong's sectoral data. The results show that most of the growth in the services sector is driven by the rapidly accumulating capital endowments, and not by productivity growth. In addition, productivity growth in the manufacturing sector is also unimpressive. The manufacturing sector is more labor intensive and its growth is hindered by the reallocation of resources into the services sector as a result of the growth of capital endowments and imports. Overall, sectoral evidence supports the endowment-driven hypothesis for Hong Kong's aggregate growth.
en
dc.identifier
http://documents.worldbank.org/curated/en/2002/09/2028948/productivity-endowments-sectoral-evidence-hong-kongs-aggregate-growth
dc.identifier.uri
http://hdl.handle.net/10986/19285
dc.language
English
dc.language.iso
en_US
dc.publisher
World Bank, Washington, DC
dc.relation.ispartofseries
Policy Research Working Paper;No. 2892
dc.rights
CC BY 3.0 IGO
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCOUNTING
dc.subject
AGGREGATE LEVEL
dc.subject
AGRICULTURE
dc.subject
AVERAGE ANNUAL GROWTH
dc.subject
AVERAGE PRODUCTIVITY
dc.subject
BASE YEAR
dc.subject
BOOK VALUE
dc.subject
CAPITAL ACCUMULATION
dc.subject
CAPITAL FORMATION
dc.subject
CAPITAL INPUT
dc.subject
CAPITAL INVESTMENT
dc.subject
CAPITAL STOCK
dc.subject
COAL
dc.subject
CONDITIONS
dc.subject
CONSTANT RETURNS
dc.subject
CONSTANT RETURNS TO SCALE
dc.subject
DIMINISHING RETURNS
dc.subject
ECONOMISTS
dc.subject
ELASTICITIES
dc.subject
ELASTICITY
dc.subject
EMPIRICAL ANALYSIS
dc.subject
EMPIRICAL EVIDENCE
dc.subject
EQUATIONS
dc.subject
EQUILIBRIUM
dc.subject
EXPORT GROWTH
dc.subject
FACTOR ACCUMULATION
dc.subject
FACTOR RETURNS
dc.subject
FACTOR SUPPLIES
dc.subject
FISHING
dc.subject
FREE TRADE
dc.subject
GDP
dc.subject
GDP DEFLATOR
dc.subject
GROSS OUTPUT
dc.subject
GROWTH ACCOUNTING
dc.subject
GROWTH LITERATURE
dc.subject
GROWTH RATE
dc.subject
GROWTH RATES
dc.subject
GROWTH THEORY
dc.subject
IMPORTS
dc.subject
INDUSTRIAL PRODUCTION
dc.subject
INPUT PRICES
dc.subject
INSURANCE
dc.subject
INTEREST RATES
dc.subject
INTERMEDIATE INPUT
dc.subject
INTERNATIONAL TRADE
dc.subject
INVENTORY
dc.subject
LABOR FORCE
dc.subject
LEVEL OF CAPITAL
dc.subject
MAXIMUM LIKELIHOOD ESTIMATION
dc.subject
OPEN ECONOMIES
dc.subject
PERFECT COMPETITION
dc.subject
POLICY MAKERS
dc.subject
PRICE ELASTICITIES
dc.subject
PRICE ELASTICITY
dc.subject
PRODUCTION FUNCTION
dc.subject
PRODUCTION FUNCTIONS
dc.subject
PRODUCTION TECHNOLOGY
dc.subject
PRODUCTIVITY
dc.subject
PRODUCTIVITY GROWTH
dc.subject
RANDOM WALK
dc.subject
RATE OF RETURN
dc.subject
SECTORAL GROWTH RATES
dc.subject
SERVICES SECTOR
dc.subject
SHARE OF OUTPUT
dc.subject
SIC
dc.subject
TECHNOLOGICAL PROGRESS
dc.subject
TERMS OF TRADE
dc.subject
TFP
dc.subject
TOTAL FACTOR PRODUCTIVITY
dc.subject
TOTAL OUTPUT
dc.subject
TRANSPORT
dc.subject
VALUE ADDED EAST ASIA
dc.subject
EMERGING ECONOMIES
dc.subject
PRODUCTIVITY
dc.subject
PRODUCTIVITY GROWTH
dc.subject
ENDOWMENTS
dc.subject
SERVICE INDUSTRIES
dc.subject
MANUFACTURING SECTOR
dc.subject
LABOR INTENSIVE INDUSTRIES
dc.subject
REALLOCATION
dc.subject
ALLOCATION OF RESOURCES
dc.subject
AGGREGATES
dc.subject
ROBUST STATISTICS
dc.subject
ENDOGENOUS VARIABLES
dc.subject
REGRESSION ANALYSIS
dc.subject
ELASTICITY (ECONOMIC)
dc.title
Productivity or Endowments? Sectoral Evidence for Hong Kong's Aggregate Growth
en
okr.crosscuttingsolutionarea
Jobs
okr.date.disclosure
2002-09
okr.doctype
Publications & Research :: Policy Research Working Paper
okr.doctype
Publications & Research
okr.docurl
http://documents.worldbank.org/curated/en/2002/09/2028948/productivity-endowments-sectoral-evidence-hong-kongs-aggregate-growth
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Trade and Competitiveness
okr.globalpractice
Water
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/1813-9450-2892
okr.identifier.externaldocumentum
000094946_02101604574036
okr.identifier.internaldocumentum
2028948
okr.identifier.report
WPS2892
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2002/10/25/000094946_02101604574036/Rendered/PDF/multi0page.pdf
en
okr.region.administrative
East Asia and Pacific
okr.region.country
China, Hong Kong SAR
okr.sector
Finance :: General finance sector
okr.topic
Economic Theory and Research
okr.topic
Water Resources :: Water and Industry
okr.topic
Banks and Banking Reform
okr.topic
Environmental Economics and Policies
okr.topic
Industry :: Industrial Management
okr.topic
Macroeconomics and Economic Growth :: Economic Growth
okr.unit
Off of Sr VP Dev Econ/Chief Econ (DECVP)
okr.volume
1

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