View by Topic: Asia’s Growth and Development •• Inclusive Growth and Employment •• Problems Estimating Aggregate Production Functions, Growth Accounting and Total Factor Productivity •• Structural Transformation


Refereed Publications


  • “Middle-Income Transitions: Trap or Myth? (with U. Kumar and R. Galope). Journal of the Asia Pacific Economy. Download .pdf.


  • “Deindustrialization? A Global Perspective” (with A. Mehta). Economics Letters. 149: 148-151. Download .pdf
  • “The declining share of agricultural employment in China:How fast?” (with Connie Bayudan-Dacuycuy and Matteo Lanzafame). Structural Change and Economic Dynamics, Vol. 37 (June 2016): 127-137. Download .pdf


  • “Can the Marginal Productivity Theory of Distribution be Tested?” (with JSL McCombie). Review of Radical Political Economics. Download .pdf


  • “Unit Labor Costs in the eurozone: the competitiveness debate again” (with Utsav Kumar). Review of Keynesian Economics. Download .pdf
  • “The Aggregate Production Function: ‘Not Even Wrong’” (with JSL McCombie). Review of Political Economy. Vol. 26. No. 1 (January): 60-84. Download .pdf
  • “How rich countries became rich and why poor countries remain poor: It’s the economic structure…duh!” (with Utsav Kumar and Arnelyn Abdon). Japan and the World Economy. Vol.29, No.1 (January): 46-58. Download .pdf
  • “As you Sow so shall you reap: from capabilities to opportunities” (with Utsav Kumar and Arnelyn Abdon). Oxford Development Studies. Download .pdf


  • “Where Have All The Educated Workers Gone? Services and Wage Inequality in Three Asian Economies” (with Aashish Mehta, Pilipinas Quising and Shiela Camingue). Metroeconomica. Vol. 64, No.3: 466-497. Download .pdf
  • “Why has China succeeded? And why it will continue to do so” (with Utsav Kumar, Norio Usui and Arnelyn Abdon). Cambridge Journal of Economics. Vol.37, No. 4 (July): 791-818. Download .pdf
  • “Exports, Capabilities, and Industrial Policy in India” (with Utsav Kumar and Arnelyn Abdon). Journal of Comparative Economics. Vol. 41, Issue 3 (August): 939-956. Download .pdf


  • “Agglomeration Economies, Regional Growth, and the Aggregate Production Function: A Caveat Emptor for Regional Scientists” (with JSL McCombie). Spatial Economic Analysis, Vol.7, No.4 (December): 461-484. Download .pdf
  • “Using capabilities to project growth 2010-2030″ (with Utsav Kumar and Arnelyn Abdon). Journal of the Japanese and International Economies, Vol. 26, issue 1 (March): 153-166. Download .pdf
  • “Product Complexity and Economic Development” (with Arnelyn Abdon, Marife Bacate, and Utsav Kumar). Structural Change and Economic Dynamics, Vol. 23, Issue 1 (March): 36-68. Download .pdf
  • “On Herbert Simon’s Criticism of the Cobb-Douglas and the CES Production Functions.” (with JSL McCombie). Journal of Post Keynesian Economics, Winter 2011-12, Vol. 34, No. 2: 275-293. Download .pdf
  • “The Role of Trade Facilitation in Central Asia: A Gravity Model” (with Utsav Kumar). Eastern European Economics. Vol. 50, No. 4 (July-August): 5-20. Download .pdf


  • “Some Caveats Modeling Technical Progress and Investment: The Case of China” (with JSL McCombie). Journal of International Commerce, Economics and Policy, Vol. 2, No. 2: 305-324. Download .pdf
  • “Rethinking the Growth Diagnostics Approach: Questions from the practitioners” (with Norio Usui and Arnelyn Abdon). Journal of International Commerce, Economics and Policy, Vol. 2, No. 2: 251-276. Download .pdf
  • “Overeducation in Developing Economies: How can we test for it, and what does it mean?” (with Aashish Mehta, Pilipinas Quising and Shiela Camingue). Economics of Education Review, Vol. 30, Issue 6 (December): 1334-1347. Download .pdf
  • “Exploring the Philippine Economic Landscape and Structural Change Using the Input-Output Framework” (with Nedelyn Magtibay-Ramos and Gemma Estrada). International Journal of Development Issues , Vol. 10, No. 1: 34-59. Download .pdf


  • “Is Pakistan’s Growth Rate Balance-of-Payments constrained? Policies and Implications for Development and Growth” (with JSL McCombie and Kaukab Naqvi). Oxford Development Studies, Vol.38 No. 4 (December): 477-496. Download .pdf
  • “What is Wrong with Aggregate Production Functions. On Temple’s “Aggregate Production Functions and Growth Economics” (with JSL McCombie). International Review of Applied Economics, Vol.24, No.6 (November): 665-684. Download .pdf


  • “Does Pakistan need to adopt inflation targeting? Some Questions” State Bank of Pakistan Research Bulletin, Vol.5, No.1 (May): 113-162. Download .pdf
  • “Are estimates of labor demand functions mere statistical artefacts?” (with JSL McCombie). International Review of Applied Economics, Vol.23, No.2 (March): 146-168. Download .pdf
  • “Sectoral Engines of Growth in Developing Asia : Stylized Facts and Implications” (with Miguel León-Ledesma, Matteo Lanzafame and Gemma Estrada). Malaysian Journal of Economic Studies 46 (2): 107-133. Download .pdf


  • “Economic Growth, Externalities and Increasing Returns to Scale: What the Data Cannot Show” (with JSL McCombie). Economia e Sociedade, Vol.17, Special Number (December): 657-677. Download .pdf
  • “Benchmarking Developing Asia’s Manufacturing Sector” (with Gemma Estrada). International Journal of Development Issues, Vol.7, No.2: 97-119. Download .pdf
  • “The Diverging Patterns of Profitability, Investment and Growth of China and India, 1980-2003.” (with Editha Laviña and Emma Xiaoqin Fan). World Development, Vol.36, No.3 (May): 741-774 Download .pdf
  • “Correcting for Biases when estimating production functions: An Illusion of the laws of algebra?” (with Rana Hasan and JSL McCombie).Cambridge Journal of Economics, Vol.32, No.3 (May): 441-459 Download .pdf
  • “An Input–Output Analysis of the Philippine BPO Industry” (with Nedelyn Magtibay-Ramos and Gemma Estrada). Asian-Pacific Economic Literature, Vol. 22 Issue 1 (May): 41-56 Download .pdf
  • “What Policymakers should know about Total Factor Productivity.” Malaysian Journal of Economic Studies. Vol. 45 No.1. (June): 1-19. Download .pdf


  • “A cautionary note on the interpretation of unit labor costs as an indicator of competitiveness, with reference to the Philippines .” Philippine Journal of Development, No.63, Vol.XXXIV, No.2: pp.1-23. Download .pdf
  • “Is a Theory of Total Factor Productivity really needed?” (with JSL McCombie). Metroeconomica, Vol. 58, No.1: 195-229. Download .pdf
  • “On the Rental Price of Capital and the Profit Rate. The Perils and Pitfalls of Total Factor Productivity Growth” (with JSL McCombie). Review of Political Economy, Vol.19, No.3 (July): 317-345. Download .pdf


  • “Aggregate Production Functions, Neoclassical Growth Models and the Aggregation Problem.” (with Franklin M. Fisher). Estudios de Economía Aplicada, Vol. 24-1 (April): pp.127-163. Download .pdf
  • “A Decade of Debate about the Sources of Growth in East Asia: How much do we know about why some countries grow faster than others?” Estudios de Economía Aplicada, Vol. 24-1 (April): pp.181-220. Download .pdf
  • “The Tyranny of the Identity: Growth Accounting Revisited.” (with JSL McCombie). International Review of Applied Economics, Vol.20, No.3 (July): 283-299. Download .pdf
  • “Asia’s Current Account Surplus: Savings Glut or Investment Drought? (with Kristine Kintanar and Joseph Lim). Asian Development Review, Vol.23, No.1: 16-54. Download .pdf


  • “Export or Domestic-Led Growth in Asia?” (with Joseph Lim). Asian Development Review, Vol.22, No.2: pp.35-75. Download .pdf
  • “ ‘A THEORY OF PRODUCTION’. The Estimation of the Cobb-Douglas Function: A Retrospective View” (with F. Gerard Adams). Eastern Economic Journal, Vol.31, No.3 (Summer): 427-446. Download .pdf
  • “How Sound are the Foundations of the Aggregate Production Function?” (with JSL McCombie). Eastern Economic Journal, Vol.31, No.3 (Summer): 467-488. Download .pdf
  • “Why are Some Countries Richer than Others? A Sceptical View of Mankiw-Romer-Weil’s Test of the Neoclassical Growth Model” (with JSL McCombie). Metroeconomica, Vol.56, No.3: pp.360-392.
    Download .pdf
  • “The Employment Elasticity in Manufacturing: A Comment on Mazumdar.” (with Grace C. Sipin). Cambridge Journal of Economics, Vol.29, No. 4 (July): pp. 659-664. Download .pdf
  • “La Función de Producción Agregada en Retrospectiva” (with JSL McCombie). Investigación Económica, Vol.LXIV, No.253 (Julio-Septiembre): pp.43-88. Download .pdf


  • “To Measure or Not to Measure TFP Growth? A reply to Mahadevan” (with JSL McCombie). Oxford Development Studies, Vol.32, No.2 (June): 321-327. Download .pdf


  • “Whatever Happened to the Cambridge Capital Theory Controversies? A Comment” (with JSL McCombie). Journal of Economic Perspectives, Vol.17, No.4 (Fall): 229-231. Download .pdf
  • “Aggregation in Production Functions: What Applied Economists Should Know” (with Franklin M. Fisher). Metroeconomica, Vol.54, No.2-3 (May-September): 208-262. Download .pdf
  • “Some Methodological Problems with the Neoclassical Analysis of the East Asian Miracle.” (with JSL McCombie). Cambridge Journal of Economics, Vol.54, No.5 (August): 695-721. Download .pdf
  • “Sustainable Development: A Comment.” Estudios de Economía Aplicada, Vol. 21 (3): 575-581. Download .pdf


  • “Unemployment and Profitability in Spain.” Journal of Income Distribution, Vol.11, No.1-2 (Spring-Summer): 7-33. Download .pdf
  • “Productivity in China before and after 1978 revisited” (with JSL McCombie). Zagreb International Review of Economics and Business, Vol.5, No.1 (May): 17-43. Download .pdf
  • “A Problem with Some Recent Estimations and Interpretations of the Markup in Manufacturing Industry.” (with JSL McCombie). International Review of Applied Economics, Vol.16, No.2 (April): 187-215. Download .pdf
  • “Demistifying the Principles of Comparative Advantage: Implications for Developing Countries.” (with Matías Vernengo). International Journal of Political Economy, Vol.32, No.4 (Winter 2002-2003): 49-75. Download .pdf


  • “Endogenous Growth, Increasing Returns, and Externalities: An Alternative Interpretation of the Evidence.” Metroeconomica, Vol.52, No.4 (November): 391-427. Download .pdf
  • “Biased Technical Change, Growth Accounting, and the Conundrum of the East Asian Miracle.”(with JSL. McCombie). Journal of Comparative Economics, Vol.29, No.3 (September): 542-565. Download .pdf
  • “The CES Production Function, the Accounting Identity, and Occam’s Razor.” (with JSL McCombie). Applied Economics, Vol.33, No.10 (August): 1221-1232. Download .pdf
  • “Aggregate Production Functions and the Measurement of Infrastructure Productivity: A Reassessment.” Eastern Economic Journal, Vol.27, No.3 (Summer): 323-344. Download .pdf
  • “Why Do Aggregate Production Functions Work? Fisher’s Simulations, Shaikh’s Identity, and Some New Results.” (with Carsten Holz). International Review of Applied Economics, Vol.15, No.3 (July): 261-285. Download .pdf


  • “On the Myth and Mystery of Singapore’s ‘Zero TFP’.” Asian Economic Journal, Vol.14, No.2 (June): 187-209. Download .pdf
  • “Convergence, Catch-Up, and Growth Sustainability in Asia: Some Pitfalls.” Oxford Development Studies, Vol.28, No.1 (February): 51-69. Download .pdf


  • “Wan’s “New Approach” to Technical Change: A Comment.” (with J.S.L. McCombie). Journal of Comparative Economics, Vol.27, No.2 (June): 355-363. Download .pdf
  • “Total Factor Productivity Growth in East Asia: A Critical Survey.” The Journal of Development Studies, Vol.34, No.5 (April): 1-41. Download .pdf


  • “Does the Aggregate Production Function Imply Anything about the Laws of Production? A Comment.” Applied Economics Letters, 5 (9) (September): 543-547. Download .pdf
  • “On the Interpretation of Coefficients in Multiplicative-Logarithmic Functions: A Reconsideration.” Applied Economics Letters, 5 (6) (June): 397-400. Download .pdf
  • “The Role of the Manufacturing Sector in Southeast Asian Development: A Test of Kaldor’s First Law.” Journal of Post Keynesian Economics, Vol.20, No.3 (Spring): 463-85. Download .pdf


  • “A Multivariate Approach to the Measurement of Development: Asia and Latin America.” (with Marcelo Resende). Journal of Developing Areas, Vol. 30, No.2 (January): 183-210. Download .pdf

Invited Articles, Non-Refereed, and Book Chapters


  • “Confronting Asia’s rising inequality. Policy options” (with C. Rhee, J. Zhuang, and R. Kanbur). In Ravi Kanbur, Changyong Rhee and Juzhong Zhuang (eds), Inequality in Asia and the Pacific. Trends, drivers and policy implications, pp. 79-99. Routledge.Download .pdf


  • “The right business environment.” Development and Cooperation. Volume 40, No. 6: 244-246. Download .pdf
  • Report to the Government of Kazakhstan. Policies for Industrial and Service Diversification in Asia in the 21st Century (with Changyong Rhee). Asian Development Bank, October 2013. Download .pdf
  • “How Sound are the Foundations of the Aggregate Production Function?” (With JSL McCombie). In The Oxford Handbook of Post-Keynesian Economics, Volume 2: Critiques and Methodology (eds. G.C. Harcourt and Peter Kriesler). Download .pdf


  • “Inclusive Growth: Why is it important for developing Asia?” Cadmus. Vol.1, Issue 4 (April): 36-58. Download .pdf


  • “A Reassessment of the use of Unit Labor Costs as a tool for competitiveness and policy analyses in India” (with Utsav Kumar). Economic and Political Weekly, Vol. XLVI, No. 40 (October): 66-70.Download .pdf
  • Product Space: ¿Qué nos dice sobre las oportunidades de crecimiento y transformación estructural del Africa subsahariana? (with Arnelyn Abdon). Fundación Ideas. Discussion Paper. Download .pdf (English) Download .pdf (Spanish)
  • “That Elixir called Productivity: Implications for Singapore.” Ethos, Issue 9 (June):35-41. Download .pdf


  • “On Accounting Identities, Simulation Experiments and Aggregate Production Functions: A Cautionary Tale for (Neoclassical) Growth Theorists” (with John McCombie). Handbook of Alternative Theories of Economic Growth (ed. Mark Setterfield), p. 189-207. Northampton: Edward Elgar. Download .pdf
  • “Inclusive Growth Through Full Employment: The Role of Investment and Industrial Policy.” In Juzhong Zhuang (ed.), Poverty, Inequality and Inclusive Growth in Asia: Measurement, Policy Issues, and Country Studies. Anthem Press. Download .pdf
  • “Asia y la crisis global: perspectivas de recuperacion y futuro” (“Asia and the Global Crisis: Recovery Prospects and the Future”). Claves de la Economia Mundial. Download .pdf
    1. “Asia and the Global Crisis: Recovery Prospects and the Future” (English version) Download .pdf


  • “A Plea to Pakistan: Fix your economy” (with Juan Miranda). Far Eastern Economic Review, January/ February: 41-44. Download .pdf


  • “Production Function” (with Aashish Mehta). International Encyclopedia of Social Sciences, 2nd edition: 508-512. Download .pdf
  • “Aggregation (Production)” (with Franklin M. Fisher). In Steven N. Durlauf and Lawrence Blume (eds.) The New Palgrave Dictionary of Economics. Second Edition. Palgrave Macmillan. Download .pdf
  • “What Can the Labor Demand Function Tell Us About Wages and Employment? The Case of the Philippines ” (with JSL McCombie). In Janine Berg and David Kucera (eds), In Defence of Labour Market Institutions: Cultivating Justice in the Developing World, pp.119-149. Palgrave Macmillan. Download .pdf


  • “Unemployment and Profitability: The Case of Spain.” In Paul Davidson (ed.), A Post Keynesian Perspective on 21st Century Economic Problems, pp.216-243. Edward Elgar: Cheltenham (UK) and Northampton (MA, USA). Download .pdf


  • “A Critical Survey of Estimates of Total Factor Productivity for the ASEAN countries.” En. F. Gerard Adams, Takeshi Katsuhara, and Kenji Nogami (eds.), Interdependence and New Direction for Development Policy in East and Southeast Asia, pp. 41-50. Kitakyushu (Japan): The International Center for the Study of East Asian Development. July 1995.


  • “Supply-side Disaggregation and Growth in an East-Asian Model System: Methodological Considerations-An Application to Malaysia.” En F. Gerard Adams and Takeshi Katsuhara (eds.), Industrial Policy, Background and Implications, pp. 207-221. Kitakyushu (Japan): The International Center for the Study of East Asian Development. July 1994.

Book Reviews

  • Review of Heterodox Views of Finance and Cycles in the Spanish Economy, by Manuel Roman. Eastern Economic Journal. 2005, Vol.31, No.4 (Fall): 689-691. Download .pdf
  • Review of The Asian Economies in the Twentieth Century, edited by Angus Madison, D.S. Prasada Rao and William F. Shepherd. 2003. Journal of Comparative Economics, Vol. 31, No.1 (March): 182-184.Download .pdf