The role of foreign capital in domestic manufacturing productivity: empirical evidence from Asian economies

Rubiana Chamarbagwala, Sunder Ramaswamy and Phanindra Wunnava

Applied Economics, 2000, vol. 32, issue 4, 393-398

Abstract: The paper empirically examines the relative contribution of foreign and domestic machinery and equipment on manufacturing productivity in seven Asian economies. A Cobb-Douglas production function is used to test whether foreign machinery is more productive than domestic machinery. The study is based on a pooled cross-sectional time-series model, including seven countries - Hong Kong, Singapore, South Korea, Malaysia, Indonesia, the Philippines and India - for the years 1975 to 1990. The results support the hypothesis that a country's stage of development, skill-level of its labour force, and the technology embodied in capital play a crucial role in determining the relative impact of foreign and domestic capital on manufacturing productivity.

Date: 2000
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DOI: 10.1080/000368400322561

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