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

Content Provider	Springer Nature Link
Author	Ahmed, Elsadig Musa Krishnasamy, Geeta
Copyright Year	2011
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.
Starting Page	331
Ending Page	342
Page Count	12
File Format	PDF
ISSN	18687865
Journal	Journal of the Knowledge Economy
Volume Number	4
Issue Number	4
e-ISSN	18687873
Language	English
Publisher	Springer US
Publisher Date	2011-11-17
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Technical efficiency Technological change Human capital Productivity growth ASEAN5 Economic Policy R & D/Technology Policy Entrepreneurship
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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