Keywords: capital productivity, East Asian economies, labour intensity, sustainable economic growth, East Asia, growth accounting, sustainability, total factor productivity, TFP, ASEAN5, Malaysia, Indonesia, Philippines, Singapore, Thailand, China, Japan, South Korea
Capital productivity determinants: East Asian perspectives
This study converses the effects of capital productivity and labour intensity on total factor productivity (TFP) intensity in ASEAN5 countries, namely Malaysia, Indonesia, Philippines, Singapore and Thailand, plus 3 countries such as China, Japan and South Korea. This study contributes to the literature of growth accounting method in the area of calculating capital productivity, labour intensity and their simultaneous contribution, which is referred to as TFP per unit of capital. The study finds that there is a little contribution of the TFP intensity growth during the periods of the study and confirms that high capital input growth resulted in low capital productivity with insignificant technological progress experiences by these countries.