Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/128577
Authors: 
Felipe, Jesus
Sotocinal, Noli
Bayudan-Dacuycuy, Connie
Year of Publication: 
2015
Series/Report no.: 
ADB Economics Working Paper Series 457
Abstract: 
The literature on the finance-growth nexus highlights the importance of the financial cycle for the estimation of potential output of an economy. We estimate potential output growth for the G-5 countries, as well as for 10 high- and middle-income Asian economies, using a multivariate model that includes financial factors. We find that the latter have a positive and statistically significant effect on the output gap of the G-5 and high-income Asian economies, but not on that of the middle-income Asian economies. We also find that average potential growth of the economies included in the study is lower in 2008-2014 than in 2000-2007.
Subjects: 
economic growth
financial factors
output gaps
potential output growth
JEL: 
E32
G00
O11
O16
O47
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/igo/
Document Type: 
Working Paper

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