An empirical productivity analysis of ASEAN economies in transition towards knowledge-based economy

Afzal, Munshi Naser Ibne and Manni, Umme Humayara (2013) An empirical productivity analysis of ASEAN economies in transition towards knowledge-based economy. Asian Research Policy, 4 (1). pp. 1-9. ISSN 2093-3509

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Abstract

Over the past few decades, countries in the Association of South East Asian Nations (ASEAN) have achieved varying levels of economic development. In this paper, the nature and extent of productivity changes in Cobb-Douglas production function components and the growth of the knowledge economy of selected ASEAN countries, namely, Malaysia, Indonesia, Philippines, Thailand, Singapore plus South Korea are analyzed over the period 2005 to 2010. Utilising non-parametric Data Envelopment Analysis (DEA) and the Malmquist total factor productivity (TFP) index, individual country's efficiency and productivity
changes which took place within this period are estimated. Although there are vast numbers of studies conducted on firm-level and industry-level efficiencies, there is scant literature on inter-country productivity comparisons using the Malmquist productivity index (MPI). The Malmquist TFP index, calculated within the framework of DEA, is broken down into three constituent elements accounting for different sources of productivity growth, namely technological progress, efficiency change, and the effects of economies of scale. Our results indicate that the Philippines and Singapore reported the highest increase in TFP within the referred years, and this growth in productivity is derived from both technical efficiency gains and technological progress. On the other hand, for the knowledge economy model, there is a remarkable growth in TFP for Thailand and Philippines. A comparison with better performing countries helps to identify policies for further improvement in ASEAN member countries.


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: No
Item Status: Live Archive
Additional Information: Published version deposited in accordance with the copyright policy of the publisher. Copyright notice: Asian Research Policy is an open archive journal. All works are published and viewed free of charge. Readers are free to Share - to copy, distribute and transmit the work under the following conditions: -They may not use the work for commercial purposes. -They may not alter, transform, or build upon the work. -For any reuse or distribution, they must make clear to others the license terms of the work. -Any of the above conditions can be waived if they get permission from the copyright holder.
Faculty / Department / School: Historic - Faculty of Business and Law - School of Accounting, Economics and Finance
Date Deposited: 08 Oct 2013 05:10
Last Modified: 07 Feb 2017 06:46
Uncontrolled Keywords: Malmquist productivity index; Cobb-Douglas; knowledge economy; technical efficiency; technological change; human capital; ICT; productivity growth; ASEAN
Fields of Research : 14 Economics > 1402 Applied Economics > 140202 Economic Development and Growth
14 Economics > 1402 Applied Economics > 140209 Industry Economics and Industrial Organisation
15 Commerce, Management, Tourism and Services > 1503 Business and Management > 150305 Human Resources Management
Socio-Economic Objective: B Economic Development > 91 Economic Framework > 9101 Macroeconomics > 910103 Economic Growth
B Economic Development > 91 Economic Framework > 9102 Microeconomics > 910202 Human Capital Issues
URI: http://eprints.usq.edu.au/id/eprint/24145

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