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Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
ADB Economics Working Paper Series No. 457
Verlag: 
Asian Development Bank (ADB), Manila
Zusammenfassung: 
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.
Schlagwörter: 
economic growth
financial factors
output gaps
potential output growth
JEL: 
E32
G00
O11
O16
O47
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Dokumentart: 
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