Abstract
Total factor productivity (TFP) has gained increased importance as it has been helpful in accelerating the rate of economic growth in developed countries. The East Asian Countries (EACs) have also followed the developed countries. There has been a debate among growth economists whether the unprecedented growth of these countries has been factor-driven or productivity-driven. In this backdrop, the present study has tested the predictability of TFP for economic growth in four EACs (Hong Kong, Korea, Malaysia and Thailand) using the fixed effects regression model and the pooled regression model over the period 1970-2004. The study concludes that productivity growth is a significant source of output growth as well as of investment growth. Further, the countries under study converge to their own steady state paths.
Author(s):
Details:
Type: | Articles |
Volume: | 48 |
Issue: | 1 |
Language: | English |
Id: | 6088f265759ac |
Pages | 105 - 122 |
Published | June 30, 2010 |
Copyrights
The research published by Pakistan Economic and Social Review (PESR) is licensed under Creative Commons Attribution 4.0 International License. It allows readers to Share_ copy and redistribute, Adapt_ remix and transform. PESR offers free full text downloading to its online contents to all readers. No subscription fee is required to read and download online articles. |
---|
This work is licensed under a Creative Commons Attribution 4.0 International License.