Pakistan Economic and Social Review - Lahore

PAKISTAN ECONOMIC and SOCIAL REVIEW

School of Economics, University of the Punjab, Lahore
ISSN (print): 1011-002X
ISSN (online): 2224-4174
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):

HAFIZ KHALIL AHMAD

Professor of Economics and Dean

GC Women University, Sialkot, Pakistan -Pakistan.

Pakistan

  • hafizkhalil62@gmail.com

Muhammad Ilyas

Dean of Research/Associate Professor

Superior College, Lahore

Pakistan

TAHIR MAHMOOD

Associate Professor of Economics

University of Veterinary and Animal Science, Lahore (Pakistan)

Pakistan

  • tahir.chaudary@gmail.com
  • +92-42-99211449 (Ext. 288)
  • website

Pakistan

  • mafzal86@gmail.com

Details:

Type: Articles
Volume: 48
Issue: 1
Language: English
Id: 6088f265759ac
Pages 105 - 122
Published June 30, 2010

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Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.