Sources of growth: A reconsideration and general equilibrium application to Indonesia
构建了印度尼西亚的可计算一般均衡模型,内生决定制造业全要素生产率增长,分析贸易体制引致的外部性和补贴对增长的影响,模拟韩国式制度变迁的财政与增长效应。
A Computable General Equilibrium (CGE) model of Indonesia is developed in which total factor productivity growth in manufacturing is endogenously determined. Productivity growth is conceptualized as human and social capital accumulation, mediated by learning and institutional development stimulated by the trade regime. These factors are modeled as externalities determined by export growth and capital equipment imports. The model is used to analyze the gains deriving from the externalities, and subsidies that amplify their effects, leading Indonesia to acquire Korea-like institutions sooner. The growth and fiscal implications of such counterfactual simulations are analyzed in a realistic general equilibrium framework with a fully articulated public sector.