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

Arlene Garces-Ozanne

No 607, Working Papers from University of Otago, Department of Economics

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).

Keywords: total factor productivity; panel data analysis; high-performing Asian economies (search for similar items in EconPapers)
JEL-codes: O40 O50 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2006-11, Revised 2006-11
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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