Human Capital Investment to Achieve Knowledge-Based Economy in ASEAN5: DEA Applications
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
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 4 (2013)
Issue (Month): 4 (December)
|Contact details of provider:|| Web page: http://www.springer.com/economics/journal/13132|
|Order Information:||Web: http://link.springer.de/orders.htm|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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.
- Alwyn Young, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, Oxford University Press, vol. 110(3), pages 641-680.
- Rao, P S & Preston, R S, 1984. "Inter-factor Substitution, Economies of Scale and Technical Change: Evidence from Canadian Industries," Empirical Economics, Springer, vol. 9(2), pages 87-111.
- Susan M. Collins & Barry P. Bosworth, 1996. "Economic Growth in East Asia: Accumulation versus Assimilation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(2), pages 135-204.
- 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.
- 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.
- Joaquin Maudos & Jose Pastor & Lorenzo Serrano, 2000. "Efficiency and Productive Specialization: An Application to the Spanish Regions," Regional Studies, Taylor & Francis Journals, vol. 34(9), pages 829-842.
- Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
When requesting a correction, please mention this item's handle: RePEc:spr:jknowl:v:4:y:2013:i:4:p:331-342. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Christopher F Baum)
If references are entirely missing, you can add them using this form.