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A bounds test approach to the study of level relationships in a panel of high-performing Asian economies (hpaes)

Author

Listed:
  • Arlene Garces-Ozanne

    () (Department of Economics, University of Otago)

Abstract

This study analyses long-run level relationships between total factor productivity (TFP) and a set of variables (the degree of openness of an economy, the different roles of government, and human capital) that are hypothesised as the major factors that drive TFP in the High-Performing Asian Economies (HPAEs). We apply Pesaran, Shin and SmithÕs (2001) bounds test approach to the analysis of level relationships between TFP and its hypothesised determinants using panel data for five HPAEs (Indonesia, Malaysia, Singapore, South Korea and Thailand) and find evidence of a long-run relationship between TFP and our hypothesised determinants, irrespective of whether the regressors are I(0) or I(1).

Suggested Citation

  • Arlene Garces-Ozanne, 2006. "A bounds test approach to the study of level relationships in a panel of high-performing Asian economies (hpaes)," Working Papers 0607, University of Otago, Department of Economics, revised Nov 2006.
  • Handle: RePEc:otg:wpaper:0607
    as

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    File URL: http://www.business.otago.ac.nz/econ/research/discussionpapers/DP_0607.pdf
    File Function: First version, 2006
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    References listed on IDEAS

    as
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    Cited by:

    1. Sarath Delpachitra & Pham Van Dai, 2012. "The Determinants of TFP Growth in Middle Income Economies in ASEAN: Implication of Financial Crises," International Journal of Business and Economics, College of Business and College of Finance, Feng Chia University, Taichung, Taiwan, vol. 11(1), pages 63-88, June.

    More about this item

    Keywords

    total factor productivity; panel data analysis; high-performing Asian economies;

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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