DOES TOTAL FACTOR PRODUCTIVITY CONVERGE AMONG ASEAN COUNTRIES?

Authors

Badri Narayan Rath, Indian Institute of Technology Hyderabad, IndiaFollow

Document Type

Article

Abstract

This paper examines the productivity convergence of the five original Association ofSoutheast Asian Nations (ASEAN) countries, namely Indonesia, Malaysia, Philippines,Singapore, and Thailand (ASEAN-5), using annual data spanning the period 1968to 2014. Results from two-break Lagrange multiplier and residual augmented leastsquares Lagrange multiplier unit root tests reveal strong evidence of productivityconvergence in case of ASEAN-5. Further, the results based on Phillips–Sul panelclub convergence also reveal productivity convergence. To check the robustness ofour finding, we use an alternative measure of total factor productivity and still findevidence of convergence. We infer that such productivity improvements may helpASEAN countries to achieve a higher pace of economic growth.

Recommended Citation

Rath, Badri Narayan (2019) "DOES TOTAL FACTOR PRODUCTIVITY CONVERGE AMONG ASEAN COUNTRIES?," Bulletin of Monetary Economics and Banking: Vol. 21: No. 0, Article 7.
DOI: https://doi.org/10.21098/bemp.v0i0.962
Available at: https://bulletin.bmeb-bi.org/bmeb/vol21/iss0/7

First Page

477

Last Page

494

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License

Country

India

Affiliation

Indian Institute of Technology Hyderabad