Growth and Productivity in ASEAN Countries

50 Pages Posted: 15 Feb 2006

Date Written: August 1997


This study examines the nature of the growth process in the ASEAN countries, and particularly whether it has been generated primarily by more inputs or by productivity gains. It uses internationally comparable data and explores an alternative method for estimating the capital and labor factor shares. The results, contradicting some previous studies, indicate a very impressive growth rate of TFP in Singapore, Thailand, and Malaysia, a relatively strong rate for Indonesia, and a negative rate for the Philippines. This study argues that the results of previous studies were driven mainly by the fact that they relied on national accounts data for measures of various variables and, in particular, the factor income shares of capital and labor.

Keywords: growth, TFP, productivity, ASEAN

JEL Classification: E25, O47

Suggested Citation

Sarel, Michael, Growth and Productivity in ASEAN Countries (August 1997). IMF Working Paper No. 97/97, Available at SSRN:

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