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Alvaro Escribano (), J. Luis Guasch (), Manuel de Orte () and Jorge Pena ()
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J. Luis Guasch: The World Bank and University of California, San Diego, USA
Manuel de Orte: Laboratorio de Economía de las Telecomunicaciones, Universidad Carlos III de Madrid, Madrid, Spain
Jorge Pena: Laboratorio de Economía de las Telecomunicaciones, Universidad Carlos III de Madrid, Madrid, Spain

The Singapore Economic Review (SER), 2009, vol. 54, issue 03, 335-366

Abstract: Investment Climate surveys (ICs) are a recent instrument used by the World Bank to identify key obstacles to country competitiveness and to guide policy reforms and government interventions in developing countries. In this paper, panel data from four ICs of four South East Asian (SEA) countries namely, Indonesia, Malaysia, The Philippines, and Thailand, are pooled to estimate total factor productivity (TFP) and allocative efficiency aspects of firms in each country, using variants of the Olley and Pakes (1996) productivity decomposition. Several economic performance results are disaggregated to obtain country-specific evaluation of the IC impacts. To establish priorities for policy reforms, the corresponding key IC results are organized in five categories: infrastructures, red tape, corruption and crime, finance and corporate governance, quality, innovation and labor skills, and other control variables.

Keywords: Total factor productivity; investment climate; firms' perceptions; robust econometric methodology; demean Olley and Pakes decomposition; cross-country comparisons; C23; C33; C43; C51; C52 (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1142/S0217590809003379

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