Akhmad Bayhaqi - Academia.edu (original) (raw)

Papers by Akhmad Bayhaqi

APEC PSU Research Report, 2014

Value chains are an important way of organizing economic activity in the Asia-Pacific. They are c... more Value chains are an important way of organizing economic activity in the Asia-Pacific. They are common in sectors such as electronics, textiles and clothing, and increasingly agribusiness. The essence of the value chain model is that the production process is split across a number of economies, rather than taking place in a single economy. The model is therefore necessarily network-based, rather than linear, as in traditional production models. This Report analyses Value Chain Risk, and presents some of the first quantitative evidence on its nature and extent in the Asia-Pacific along with the policy implications of the findings.

In October 2019, the International Monetary Fund (IMF) trimmed its global growth expectation to 3... more In October 2019, the International Monetary Fund (IMF) trimmed its global growth expectation to 3.0% – the lowest since 2009 – down from 3.6% in 2018 (IMF, 2019a; 2019b). As global growth continues to slow amidst issues such as trade tensions and falling commodity prices, the need to identify key drivers of growth has intensified. In the search for these drivers, the benefits and importance of infrastructure may have been overlooked despite its strong potential to support higher economic growth as identified in several studies (Aschauer (1989, 2000); Calderón et al. (2004); Röller, L., & Waverman, L. (2001) etc.).

Economics and Finance in Indonesia, 2004

Put in simple terms, a ‘bubble’ refers to financial assets (like stocks or land) whose price grow... more Put in simple terms, a ‘bubble’ refers to financial assets (like stocks or land) whose price grows out of proportion from its ‘fundamental value’. Once the bubble bursts, the economy could fall into recession, and in the worst case scenario turns into an economic financial crisis. While most ASEAN economies suffered instantly from the burst of the crisis in 1997, mature economies, such as Singapore, Japan and the US, only suffered minor impacts at the time. Now, however, concerns are being raised as these mature economies have since experienced considerable economic slowdowns, most notably in Japan and Singapore, but also to a lesser extent in the US. It is plausible that bubble problems could reappear as future crises in these economies. This essay attempts to understand the anatomy of such bubbles and determine whether Singapore is prone to such a problem.

Economics and Finance in Indonesia, 2000

Makalah ini mencoba melihat sistem pendidikan tinggi di Indonesia terkait dengan jumlah subsidi y... more Makalah ini mencoba melihat sistem pendidikan tinggi di Indonesia terkait dengan jumlah subsidi yang diberikan oleh pemerintah pusat. Saat ini terdapat 850,000 mahasiswa yang sekarang mengikuti studi di 52 Perguruan Tinggi Negri dimana uang SPP yang dibayarkan hanya mencakup 11% dari seluruh pengeluaran yang ada. Salah satu alasan mengapa pemerintah mensubsidi PTN adalah pada awalnya didasari oleh sentimen egaliter yang kuat. Sebenarnya semua kebijakan yang terkait dengan pendidikan dan kesehatan dapat dijustifikasi dengan menggunakan prinsip egaliter. Namun, karena anggaran pemerintah yang terbatas serta banyaknya tujuan-tujuan pembangunan lain yang ingin dicapai, pemerintah harus memberikan justifikasi berdasarkan kriteria-kriteria yang lebih spesifik. Tiga kriteria yang digunakan dalam tulisan ini, untuk lebih mengarah kepada dampak sosialnya, adalah pemerataan, mobilitas sosial dan modal sosial. Sumber pendanaan yang bervariasi dapat meningkatkan kualitas, efisiensi dan pemerata...

In this paper, the three-factor formulation for TFP growth is used, with the result that Indonesi... more In this paper, the three-factor formulation for TFP growth is used, with the result that Indonesia recorded negative TFP growth for the 1969-1998 period. The use of three-factor formulation seems to result in lower TFP growth compared with the two-factor model. Bosworth, et.al. (1995) noted that countries with extremely high growth in years-of-schooling would leave very little output growth to be attributed to improvements in TFP. We find that education contributes little to economic growth, while capital is a major source of growth. While factor inputs per se might not have been important for growth, they did interact with other factors to increase total productivity, the so-called residual. Countries that are less affected by the crisis, such as Singapore and Malaysia to a lesser extent, seem to have good capital and education endowment from the past. Countries in ASEAN which have better capital and educational endowment have also survived the crisis well. Introduction Indonesia’s...

Economics and Finance in Indonesia, 2001

The increasing poverty in Indonesia has encouraged Indonesian government to place poverty allevia... more The increasing poverty in Indonesia has encouraged Indonesian government to place poverty alleviation program as a core program in economic development strategy. The implementation of the program will be more effective and well targeted if local government performs significant roles in poverty reduction, especially after regional autonomy. The papers will analyse local government poverty alleviation program based on the public/development expenditure and local government strategic planning. The local government budget analysis is conducted using the proportion of public spending to selected sectors which considered pro-poor and using public spending incidence analysis to observe how effective the budget is allocated for the poor. The sectors selected are agriculture, transportation, education, health and housing. Whereas, to analyse local government awareness in reducing poverty, qualitative analysis conducted by exploring specific poverty alleviation programs in the local governmen...

PSU Policy Brief, 2020

This policy brief provides an analysis of APEC’s value chain strength in comparison to other regi... more This policy brief provides an analysis of APEC’s value chain strength in comparison to other regional or economic groupings as well as in relation to the COVID-19 pandemic. The key messages are:

While businesses may be able to mitigate against some risks through measures like diversification and hedging, they are likely to struggle when faced with systemic, economy-wide risks to global value chains, particularly those resulting from unexpected events like the COVID-19 pandemic and natural disasters.
Resilience, or as conceptualised in this study, the strength of an economy or a regional grouping against systemic risks, must therefore be a priority for businesses and government.
The quantitative analysis suggests that the APEC region has performed relatively better compared with a number of major regional or economic groupings in terms of: (1) market risk and (2) regulatory and policy risk.
Even where the APEC region compares relatively well to the other regional or economic groupings covered by this analysis, a deeper look shows a wide gap between the highest-performing economy and the lowest.
COVID-19 was largely an unanticipated systemic event that has affected global trade and value chains significantly. APEC economies have developed a strong foundation to deal with the crisis but more needs to be done.
All in all, this policy brief reinforces the message that, while it is not always possible to anticipate all risks, economies should aim to be more resilient should unexpected shocks occur. The APEC region should thus redouble its commitment to strengthening the institutions, structures and facilities that are key to stronger economic resilience in the face of systemic risks.

Currently, global trade is becoming more integrated creating new markets to open up as well as sh... more Currently, global trade is becoming more integrated creating new markets to open up as well as shifts in the traditional business models. The increasing trend of outsourcing and offshoring bring a significant change in the global landscape of business. Global access of market through e-commerce, provides further opportunities for recovery and expansion not only for MNCs but also for SMEs. The trends and transformations of global value chains (GVCs) and global market are possible because of the fast progress in ICT development, particularly in transportation and logistics. As new ICT technology comes in, access to a more sophisticated business method and process widens and enables small and medium sized firms to modernize their operations. It also enables a wider and deeper collaboration between firms - both within and between local SMEs and MNCs. Government policies could facilitate the process by providing the necessary support in terms of better 'hard' ICT infrastructure a...

In this paper, the three-factor formulation for TFP growth is used, with the result that Indonesi... more In this paper, the three-factor formulation for TFP growth is used, with the result that Indonesia recorded negative TFP growth for the 1969-1998 period. The use of three-factor formulation seems to result in lower TFP growth compared with the two-factor model. Bosworth, et. al.(1995) noted that countries with extremely high growth in years-of-schooling would leave very little output growth to be attributed to improvements in TFP. We find that education contributes little to economic growth, while capital is a major source of growth. ...

The Journal of Asian Studies, May 1, 2005

The rural nonfarm economy (RNFE) in Indonesia has increasingly attracted a significant amount of ... more The rural nonfarm economy (RNFE) in Indonesia has increasingly attracted a significant amount of research. In Indonesia this is especially true after the severe contraction in the economy after the 1997 financial and economic crisis. The economic crisis has had a devastating impact on income. As Duncan Thomas and James Smith et al. have noted (“Wages, Employment, and Economic Shocks: Evidence from Indonesia,” papers 00–07, RAND–Labor and Population Program, 2000), the drama of the crisis actually lies in the drop of real hourly earnings, which in one ...

Journal of Economic Integration, Dec 1, 2011

This paper develops new measures of multimodal transport connectivity, and uses a gravity model t... more This paper develops new measures of multimodal transport connectivity, and uses a gravity model to show that improving performance could lead to major trade gains for the Asia-Pacific region. By improving multimodal connectivity by 5%, APEC would increase exports by around 4%, or between 2% and 6% per member economy. In dollar terms, this equates to an impact gain of 500bnintotal,orbetween 850 m and 115bnpermembereconomy.Economiesthatareopen,highlyintegratedintoworldmarkets, ...

This study aims to analyze and uncover the relationship between education (defined here as human ... more This study aims to analyze and uncover the relationship between education (defined here as human capital) and economic growth in Indonesia. It is hoped that this study could provide explanations on the nature and magnitude in which education relates and contributes to economic growth and performance. The links between education and economic growth could happen in many ways. The links are also likely to involve a two-way rather than one-way relationship. This study attempts to do a broad based research on education and ...

2nd International Conference on Indonesia: Decentralization and Structural Reformation, Faculty of Social and Political Sciences, Diponegoro University, Semarang, July, 2004

The regional decentralization started in 1999 in Indonesia occurred in the background of politica... more The regional decentralization started in 1999 in Indonesia occurred in the background of political and economical instability. The background of the released of Law no 22 and 25/1999 is important in understanding the context of the decentralization process. In theory, it is stated that 'good'decentralization process should be timely and sequenced properly1, the policy sequencing is important to make decentralization 'work'or effective. The tern 'good'and 'workable'decentralization refers to the ideas and goals of decentralization and ...

Progress in Development Studies, 2006

The book's topic is economic growth and gathers 12 papers mostly presented at the Internatio... more The book's topic is economic growth and gathers 12 papers mostly presented at the International Conference on Economic Growth held at the Institute of Economics, Academia Sinica, Taipei in 2000. The book is in three parts, representing three major factors with the potential to ...

In this paper, the three-factor formulation for TFP growth is used, with the result that Indonesi... more In this paper, the three-factor formulation for TFP growth is used, with the result that Indonesia recorded negative TFP growth for the 1969-1998 period. The use of three-factor formulation seems to result in lower TFP growth compared with the two-factor model. Bosworth, et.al. (1995) ...

APEC defines “trade facilitation” in a broad sense; as stated in the Trade Facilitation Action Pl... more APEC defines “trade facilitation” in a broad sense; as stated in the Trade Facilitation Action Plan (TFAP) initiative: “Trade facilitation refers to the simplification and rationalisation of customs and other administrative procedures that hinder, delay, or increase, the cost of moving goods across international borders. Or, to put it simply, it refers to the process of cutting red tape at the border for importers and exporters so that goods are delivered in the most efficient and cost effective manner”2. The two TFAPs (TFAP I 2001-2006; TFAP II 20072010) focused on four specific areas: (1) Customs Procedures; (2) Standards and Conformance; (3) Business Mobility; and (4) Electronic Commerce. The ultimate goal of the TFAPs was to reduce trade transaction costs, and assessments showed that both initiatives yielded positive results. For instance, TFAP II cut trade costs by 5 percent between 2007 and 2010, and resulted in savings of USD 58.7 billion (APEC PSU, 2012).

Ekonomi dan keuangan Indonesia, Dec 30, 2008

Dalam tulisan ini, penulis menggunakan formulasi tiga-faktor dengan hasil yang menunjukkan bahwa ... more Dalam tulisan ini, penulis menggunakan formulasi tiga-faktor dengan hasil yang menunjukkan bahwa pertumbuhan TFP (total factor productivity) di Indonesia selama periode 1969-97 adalah negatif. Penggunaan formulasi tiga-faktor nampaknya menghasilkan TFP yang lebih rendah dibandingkan dengan model dua-faktor. Menurut Boshworth, et. al (1995), negara dengan pertumbuhan years-of-schooling yang tinggi secara ekstrim akan menyebabkan kontribusi TFP terhadap pertumbuhan output kecil. Ditemukan bahwa kontribusi tingkat pendidikan yang rendah pada pertumbuhan ekonomi, sehingga modal yang mendominasi sumber pertumbuhan. Sementara faktor input per se mungkin tidak penting untuk pertumbuhan, mereka berinteraksi dengan faktor lainnya untuk memproduksi peningkatan dalam total productivity yang disebut residual. Negara yang saat ini di Asia yang sedikit terimbas krisis, seperti Singapura dan Malaysia, nampaknya memang sudah memiliki kapital dan pendidikan yang baik dari masa lalu. Negara-negara di ASEAN yang memiliki endowment kapital dan pendidikan yang baik juga bisa bertahan dari krisis.

Progress in Development Studies, 2006

Unnithan-Kumar on the effect of rural-to-urban migration on women's reproductive choices and... more Unnithan-Kumar on the effect of rural-to-urban migration on women's reproductive choices and constraints, and on the (partial) re-aligning of caste relations; and Arjan de Haan on labour migrants to Calcutta, and the porosity of colonial and postcolonial urban/rural 'borders'. De Haan ...

APEC PSU Research Report, 2014

Value chains are an important way of organizing economic activity in the Asia-Pacific. They are c... more Value chains are an important way of organizing economic activity in the Asia-Pacific. They are common in sectors such as electronics, textiles and clothing, and increasingly agribusiness. The essence of the value chain model is that the production process is split across a number of economies, rather than taking place in a single economy. The model is therefore necessarily network-based, rather than linear, as in traditional production models. This Report analyses Value Chain Risk, and presents some of the first quantitative evidence on its nature and extent in the Asia-Pacific along with the policy implications of the findings.

In October 2019, the International Monetary Fund (IMF) trimmed its global growth expectation to 3... more In October 2019, the International Monetary Fund (IMF) trimmed its global growth expectation to 3.0% – the lowest since 2009 – down from 3.6% in 2018 (IMF, 2019a; 2019b). As global growth continues to slow amidst issues such as trade tensions and falling commodity prices, the need to identify key drivers of growth has intensified. In the search for these drivers, the benefits and importance of infrastructure may have been overlooked despite its strong potential to support higher economic growth as identified in several studies (Aschauer (1989, 2000); Calderón et al. (2004); Röller, L., & Waverman, L. (2001) etc.).

Economics and Finance in Indonesia, 2004

Put in simple terms, a ‘bubble’ refers to financial assets (like stocks or land) whose price grow... more Put in simple terms, a ‘bubble’ refers to financial assets (like stocks or land) whose price grows out of proportion from its ‘fundamental value’. Once the bubble bursts, the economy could fall into recession, and in the worst case scenario turns into an economic financial crisis. While most ASEAN economies suffered instantly from the burst of the crisis in 1997, mature economies, such as Singapore, Japan and the US, only suffered minor impacts at the time. Now, however, concerns are being raised as these mature economies have since experienced considerable economic slowdowns, most notably in Japan and Singapore, but also to a lesser extent in the US. It is plausible that bubble problems could reappear as future crises in these economies. This essay attempts to understand the anatomy of such bubbles and determine whether Singapore is prone to such a problem.

Economics and Finance in Indonesia, 2000

Makalah ini mencoba melihat sistem pendidikan tinggi di Indonesia terkait dengan jumlah subsidi y... more Makalah ini mencoba melihat sistem pendidikan tinggi di Indonesia terkait dengan jumlah subsidi yang diberikan oleh pemerintah pusat. Saat ini terdapat 850,000 mahasiswa yang sekarang mengikuti studi di 52 Perguruan Tinggi Negri dimana uang SPP yang dibayarkan hanya mencakup 11% dari seluruh pengeluaran yang ada. Salah satu alasan mengapa pemerintah mensubsidi PTN adalah pada awalnya didasari oleh sentimen egaliter yang kuat. Sebenarnya semua kebijakan yang terkait dengan pendidikan dan kesehatan dapat dijustifikasi dengan menggunakan prinsip egaliter. Namun, karena anggaran pemerintah yang terbatas serta banyaknya tujuan-tujuan pembangunan lain yang ingin dicapai, pemerintah harus memberikan justifikasi berdasarkan kriteria-kriteria yang lebih spesifik. Tiga kriteria yang digunakan dalam tulisan ini, untuk lebih mengarah kepada dampak sosialnya, adalah pemerataan, mobilitas sosial dan modal sosial. Sumber pendanaan yang bervariasi dapat meningkatkan kualitas, efisiensi dan pemerata...

In this paper, the three-factor formulation for TFP growth is used, with the result that Indonesi... more In this paper, the three-factor formulation for TFP growth is used, with the result that Indonesia recorded negative TFP growth for the 1969-1998 period. The use of three-factor formulation seems to result in lower TFP growth compared with the two-factor model. Bosworth, et.al. (1995) noted that countries with extremely high growth in years-of-schooling would leave very little output growth to be attributed to improvements in TFP. We find that education contributes little to economic growth, while capital is a major source of growth. While factor inputs per se might not have been important for growth, they did interact with other factors to increase total productivity, the so-called residual. Countries that are less affected by the crisis, such as Singapore and Malaysia to a lesser extent, seem to have good capital and education endowment from the past. Countries in ASEAN which have better capital and educational endowment have also survived the crisis well. Introduction Indonesia’s...

Economics and Finance in Indonesia, 2001

The increasing poverty in Indonesia has encouraged Indonesian government to place poverty allevia... more The increasing poverty in Indonesia has encouraged Indonesian government to place poverty alleviation program as a core program in economic development strategy. The implementation of the program will be more effective and well targeted if local government performs significant roles in poverty reduction, especially after regional autonomy. The papers will analyse local government poverty alleviation program based on the public/development expenditure and local government strategic planning. The local government budget analysis is conducted using the proportion of public spending to selected sectors which considered pro-poor and using public spending incidence analysis to observe how effective the budget is allocated for the poor. The sectors selected are agriculture, transportation, education, health and housing. Whereas, to analyse local government awareness in reducing poverty, qualitative analysis conducted by exploring specific poverty alleviation programs in the local governmen...

PSU Policy Brief, 2020

This policy brief provides an analysis of APEC’s value chain strength in comparison to other regi... more This policy brief provides an analysis of APEC’s value chain strength in comparison to other regional or economic groupings as well as in relation to the COVID-19 pandemic. The key messages are:

While businesses may be able to mitigate against some risks through measures like diversification and hedging, they are likely to struggle when faced with systemic, economy-wide risks to global value chains, particularly those resulting from unexpected events like the COVID-19 pandemic and natural disasters.
Resilience, or as conceptualised in this study, the strength of an economy or a regional grouping against systemic risks, must therefore be a priority for businesses and government.
The quantitative analysis suggests that the APEC region has performed relatively better compared with a number of major regional or economic groupings in terms of: (1) market risk and (2) regulatory and policy risk.
Even where the APEC region compares relatively well to the other regional or economic groupings covered by this analysis, a deeper look shows a wide gap between the highest-performing economy and the lowest.
COVID-19 was largely an unanticipated systemic event that has affected global trade and value chains significantly. APEC economies have developed a strong foundation to deal with the crisis but more needs to be done.
All in all, this policy brief reinforces the message that, while it is not always possible to anticipate all risks, economies should aim to be more resilient should unexpected shocks occur. The APEC region should thus redouble its commitment to strengthening the institutions, structures and facilities that are key to stronger economic resilience in the face of systemic risks.

Currently, global trade is becoming more integrated creating new markets to open up as well as sh... more Currently, global trade is becoming more integrated creating new markets to open up as well as shifts in the traditional business models. The increasing trend of outsourcing and offshoring bring a significant change in the global landscape of business. Global access of market through e-commerce, provides further opportunities for recovery and expansion not only for MNCs but also for SMEs. The trends and transformations of global value chains (GVCs) and global market are possible because of the fast progress in ICT development, particularly in transportation and logistics. As new ICT technology comes in, access to a more sophisticated business method and process widens and enables small and medium sized firms to modernize their operations. It also enables a wider and deeper collaboration between firms - both within and between local SMEs and MNCs. Government policies could facilitate the process by providing the necessary support in terms of better 'hard' ICT infrastructure a...

In this paper, the three-factor formulation for TFP growth is used, with the result that Indonesi... more In this paper, the three-factor formulation for TFP growth is used, with the result that Indonesia recorded negative TFP growth for the 1969-1998 period. The use of three-factor formulation seems to result in lower TFP growth compared with the two-factor model. Bosworth, et. al.(1995) noted that countries with extremely high growth in years-of-schooling would leave very little output growth to be attributed to improvements in TFP. We find that education contributes little to economic growth, while capital is a major source of growth. ...

The Journal of Asian Studies, May 1, 2005

The rural nonfarm economy (RNFE) in Indonesia has increasingly attracted a significant amount of ... more The rural nonfarm economy (RNFE) in Indonesia has increasingly attracted a significant amount of research. In Indonesia this is especially true after the severe contraction in the economy after the 1997 financial and economic crisis. The economic crisis has had a devastating impact on income. As Duncan Thomas and James Smith et al. have noted (“Wages, Employment, and Economic Shocks: Evidence from Indonesia,” papers 00–07, RAND–Labor and Population Program, 2000), the drama of the crisis actually lies in the drop of real hourly earnings, which in one ...

Journal of Economic Integration, Dec 1, 2011

This paper develops new measures of multimodal transport connectivity, and uses a gravity model t... more This paper develops new measures of multimodal transport connectivity, and uses a gravity model to show that improving performance could lead to major trade gains for the Asia-Pacific region. By improving multimodal connectivity by 5%, APEC would increase exports by around 4%, or between 2% and 6% per member economy. In dollar terms, this equates to an impact gain of 500bnintotal,orbetween 850 m and 115bnpermembereconomy.Economiesthatareopen,highlyintegratedintoworldmarkets, ...

This study aims to analyze and uncover the relationship between education (defined here as human ... more This study aims to analyze and uncover the relationship between education (defined here as human capital) and economic growth in Indonesia. It is hoped that this study could provide explanations on the nature and magnitude in which education relates and contributes to economic growth and performance. The links between education and economic growth could happen in many ways. The links are also likely to involve a two-way rather than one-way relationship. This study attempts to do a broad based research on education and ...

2nd International Conference on Indonesia: Decentralization and Structural Reformation, Faculty of Social and Political Sciences, Diponegoro University, Semarang, July, 2004

The regional decentralization started in 1999 in Indonesia occurred in the background of politica... more The regional decentralization started in 1999 in Indonesia occurred in the background of political and economical instability. The background of the released of Law no 22 and 25/1999 is important in understanding the context of the decentralization process. In theory, it is stated that 'good'decentralization process should be timely and sequenced properly1, the policy sequencing is important to make decentralization 'work'or effective. The tern 'good'and 'workable'decentralization refers to the ideas and goals of decentralization and ...

Progress in Development Studies, 2006

The book's topic is economic growth and gathers 12 papers mostly presented at the Internatio... more The book's topic is economic growth and gathers 12 papers mostly presented at the International Conference on Economic Growth held at the Institute of Economics, Academia Sinica, Taipei in 2000. The book is in three parts, representing three major factors with the potential to ...

In this paper, the three-factor formulation for TFP growth is used, with the result that Indonesi... more In this paper, the three-factor formulation for TFP growth is used, with the result that Indonesia recorded negative TFP growth for the 1969-1998 period. The use of three-factor formulation seems to result in lower TFP growth compared with the two-factor model. Bosworth, et.al. (1995) ...

APEC defines “trade facilitation” in a broad sense; as stated in the Trade Facilitation Action Pl... more APEC defines “trade facilitation” in a broad sense; as stated in the Trade Facilitation Action Plan (TFAP) initiative: “Trade facilitation refers to the simplification and rationalisation of customs and other administrative procedures that hinder, delay, or increase, the cost of moving goods across international borders. Or, to put it simply, it refers to the process of cutting red tape at the border for importers and exporters so that goods are delivered in the most efficient and cost effective manner”2. The two TFAPs (TFAP I 2001-2006; TFAP II 20072010) focused on four specific areas: (1) Customs Procedures; (2) Standards and Conformance; (3) Business Mobility; and (4) Electronic Commerce. The ultimate goal of the TFAPs was to reduce trade transaction costs, and assessments showed that both initiatives yielded positive results. For instance, TFAP II cut trade costs by 5 percent between 2007 and 2010, and resulted in savings of USD 58.7 billion (APEC PSU, 2012).

Ekonomi dan keuangan Indonesia, Dec 30, 2008

Dalam tulisan ini, penulis menggunakan formulasi tiga-faktor dengan hasil yang menunjukkan bahwa ... more Dalam tulisan ini, penulis menggunakan formulasi tiga-faktor dengan hasil yang menunjukkan bahwa pertumbuhan TFP (total factor productivity) di Indonesia selama periode 1969-97 adalah negatif. Penggunaan formulasi tiga-faktor nampaknya menghasilkan TFP yang lebih rendah dibandingkan dengan model dua-faktor. Menurut Boshworth, et. al (1995), negara dengan pertumbuhan years-of-schooling yang tinggi secara ekstrim akan menyebabkan kontribusi TFP terhadap pertumbuhan output kecil. Ditemukan bahwa kontribusi tingkat pendidikan yang rendah pada pertumbuhan ekonomi, sehingga modal yang mendominasi sumber pertumbuhan. Sementara faktor input per se mungkin tidak penting untuk pertumbuhan, mereka berinteraksi dengan faktor lainnya untuk memproduksi peningkatan dalam total productivity yang disebut residual. Negara yang saat ini di Asia yang sedikit terimbas krisis, seperti Singapura dan Malaysia, nampaknya memang sudah memiliki kapital dan pendidikan yang baik dari masa lalu. Negara-negara di ASEAN yang memiliki endowment kapital dan pendidikan yang baik juga bisa bertahan dari krisis.

Progress in Development Studies, 2006

Unnithan-Kumar on the effect of rural-to-urban migration on women's reproductive choices and... more Unnithan-Kumar on the effect of rural-to-urban migration on women's reproductive choices and constraints, and on the (partial) re-aligning of caste relations; and Arjan de Haan on labour migrants to Calcutta, and the porosity of colonial and postcolonial urban/rural 'borders'. De Haan ...