Factor accumulation and total factor productivity growth: ASEAN economies

Subramaniam Munusamy, and Yogambigai Rajamoorthy, (2020) Factor accumulation and total factor productivity growth: ASEAN economies. Jurnal Ekonomi Malaysia, 54 (2). pp. 67-76. ISSN 0127-1962


Official URL: https://www.ukm.my/fep/jem/content/2020-2.html


This study examines the contribution of factor accumulation on Total Factor Productivity (TFP) growth in the eight ASEAN countries with specific reference to short-term and long-term estimation effect. Using Mean Group (MG) estimator on data between 1990 and 2018, this study found a significant relationship between capital accumulation and TFP growth. Our analysis suggests that the positive growth on TFP in most ASEAN countries was due to the short-run effect of capital accumulation. This study also found that the ASEAN economies have a relatively lower rate of capital utilization that adversely affects TFP growth in the long run. The contribution of TFP to output growth is paramount for the sustainability of long-term economic growth. Thus, ASEAN countries need to accelerate capital accumulation and technology adoption in the short-term and utilize idle capital in the long-term.

Item Type:Article
Keywords:Factor accumulation; TFP; Mean Group Estimator; ASEAN
Journal:Jurnal Ekonomi Malaysia
ID Code:16872
Deposited By: ms aida -
Deposited On:21 Jun 2021 02:02
Last Modified:24 Jun 2021 16:22

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