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Human Capital Investment to Achieve Knowledge-Based Economy in ASEAN5: DEA Applications

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  • Elsadig Ahmed

    ()

  • Geeta Krishnasamy

    ()

Abstract

Over the past few decades, ASEAN countries have achieved varying levels of economic development. In this paper, the nature and extent of productivity changes of ASEAN5 countries, namely, Malaysia, Indonesia, Philippines, Thailand and Singapore, are analysed over the period 1993 to 2006. The Malmquist total factor productivity (TFP) index calculated within the framework of data envelopment analysis is next decomposed into three constituent elements accounting for different sources of productivity growth, which are technological progress, efficiency change and the effects of economies of scale. The analysis is carried out for the sample with and without human capital variable to isolate the impact of human capital investment on TFP growth in these countries. Results indicate that when human capital is included in the model, Malaysia and Singapore reported an increase in TFP and this growth in productivity is derived from both technical efficiency gain and technological progress. The model without human capital shows that there is a TFP reduction in Malaysia, Philippines and Thailand whereas Indonesia and Singapore recorded a growth in TFP. This suggests that human capital investment plays a pivotal role in driving TFP growth in Malaysia. This result will guide appropriate policy formulation in the area of human capital investment. Copyright Springer Science+Business Media, LLC 2013

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File URL: http://hdl.handle.net/10.1007/s13132-011-0059-2
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Bibliographic Info

Article provided by Springer in its journal Journal of the Knowledge Economy.

Volume (Year): 4 (2013)
Issue (Month): 4 (December)
Pages: 331-342

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Handle: RePEc:spr:jknowl:v:4:y:2013:i:4:p:331-342

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Web page: http://www.springer.com/economics/journal/13132

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Related research

Keywords: Technical efficiency; Technological change; Human capital; Productivity growth; ASEAN5;

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  1. Joaquin Millan & Natalia Aldaz, 1998. "Agricultural productivity of the Spanish regions: a non-parametric Malmquist analysis," Applied Economics, Taylor & Francis Journals, vol. 30(7), pages 875-884.
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  5. Charnes, Abraham & Cooper, William W. & Li, Shanling, 1989. "Using data envelopment analysis to evaluate efficiency in the economic performance of Chinese cities," Socio-Economic Planning Sciences, Elsevier, vol. 23(6), pages 325-344.
  6. Mao, Weining & Koo, Won W., 1997. "Productivity growth, technological progress, and efficiency change in chinese agriculture after rural economic reforms: A DEA approach," China Economic Review, Elsevier, vol. 8(2), pages 157-174.
  7. Young, Alwyn, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 641-80, August.
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