Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/269958 
Authors: 
Year of Publication: 
2020
Citation: 
[Journal:] Cogent Economics & Finance [ISSN:] 2332-2039 [Volume:] 8 [Issue:] 1 [Article No.:] 1805138 [Year:] 2020 [Pages:] 1-21
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
In recent decades, the ASEAN economies have implemented a number of regional integration policies. Using a panel dataset of 10 ASEAN countries from 1980 to 2017, this study examines the productivity and efficiency of the ASEAN economies using a stochastic production frontier model. Furthermore, the parametric model is decomposed using a generalised Malmquist productivity index to provide estimates of gross technical efficiency, technical progress and returns to scale change, while taking into account of transient and persistent efficiency. The results show that there is room for efficiency gains, as the ASEAN economies can increase GDP by 7.7 per cent if persistent efficiency is increased. Furthermore, the results show that technical progress is increasing over time and exhibits increasing returns to scale. However, technical change is slow, as it averages at one per cent over the sample period. Policy implications for future growth are discussed.
Subjects: 
economic growth
efficiency
frontier modelling
persistent and transient efficiency
productivity
total factor productivity
JEL: 
C23
O47
O49
R11
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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