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Testing the Governance-Productivity Nexus for Emerging Asian Countries

Ghulam Mustafa () and Muhammad Jamil ()
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Ghulam Mustafa: Assistant Professor, Department of Economics, Federal Urdu University of Arts, Science and Technology, Islamabad, Pakistan.
Muhammad Jamil: Assistant Professor, School of Economics, Quaid-i-Azam University, Islamabad, Pakistan.

Lahore Journal of Economics, 2018, vol. 23, issue 1, 143-169

Abstract: This paper presents panel data estimates of the relationship between governance, aggregate labor productivity (ALP) growth and total factor productivity (TFP) growth for 12 Asian economies between 1996 and 2013. Our results show that government effectiveness has a positive and significant effect on ALP in both levels and first differences. Regulatory quality has a positive impact on ALP only in first difference. Although both government effectiveness and regulatory quality have a positive effect on TFP growth in first difference, only political stability is significant and positive in the levels specification. Other findings indicate that physical capital and human capital have a positive effect on ALP growth. We also find evidence of positive spillover effects with respect to human capital. The positive association between governance, economic growth and productivity provide a better understanding of the role of governance in enhancing economic performance. Our findings have policy implications for ways to achieve good governance to enhance economic growth and productivity.

Keywords: Governance; total factor productivity; economic growth. (search for similar items in EconPapers)
JEL-codes: C23 D24 E24 O40 (search for similar items in EconPapers)
Date: 2018
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