02344cas a2200277 a 4500 AALejournalIMF015107 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475545364 1018-5941 BD-DhAAL BD-DhAAL Mitra, Pritha. Estimating Potential Growth in the Middle East and Central Asia / Pritha Mitra, Amr Hosny, Gohar Abajyan, Mark Fischer. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (27 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The Middle East and Central Asia's economic growth potential is slowing faster than in other emerging and developing regions, dampening hopes for reducing persistent unemployment and improving the region's generally low living standards. Why? And is it possible to alter this course? This paper addresses these questions by estimating potential growth, examining its supply-side drivers, and assessing which of them could be most effective in raising potential growth. The analysis reveals that the region's potential growth is expected to slow by 3/4 of a percentage point more than the EMDC average over the next five years. The reasons behind this slowdown differ across the region. Lower productivity growth drives the slowdown in the Caucasus and Central Asia and is also weighing on growth across the Middle East (MENAP); while a lower labor contribution to potential growth is the main driver in MENAP. Moving forward, given some natural constraints on labor, total factor productivity growth is key to unlocking the region's higher growth potential. For oil importers, raising physical capital accumulation through greater investment will also play an important role. Mode of access: Internet Abajyan, Gohar. Fischer, Mark. Hosny, Amr. IMF Working Papers; Working Paper ; No. 2015/062 Full text available on IMF http://elibrary.imf.org/view/journals/001/2015/062/001.2015.issue-062-en.xml IMF e-Library