Books

Refereed Publications

Forthcoming

  • “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.
  • “What is Wrong with Aggregate Production Functions. On Temple’s “Aggregate Production Functions and Growth Economics”” (with JSL McCombie). International Review of Applied Economics.

2010

  • “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). 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.

2009

  • “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

2008

  • “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
  • “What Policymakers should know about Total Factor Productivity.” Malaysian Journal of Economic Studies. Vol. 45 No.1. (December): 1-19. Download .pdf
  • “Production Function” (with Aashish Mehta). International Encyclopedia of Social Sciences, 2nd edition. Download .pdf
  • “Benchmarking Developing Asia’s Manufacturing Sector” (with Gemma Estrada). International Journal of Development Issues, Vol.7, No.2: 97-119. 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
  • “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 Analysis of the Philippine Business Process Outsourcing Industry.” (with Nedelyn Magtibay-Ramos and Gemma Estrada). Asian-Pacific Economic Literature, Vol. 22 Issue 1 (May): 41-56 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

2007

  • “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

2006

  • “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
  • “Aggregate Production Functions, Neoclassical Growth Models and the Aggregation Problem.” (with Franklin M. Fisher). Estudios de Economía Aplicada, Vo.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, Vo.24-1 (April): pp.181-220. 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

2005

  • “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
  • “La Función de Producción Agregada en Retrospectiva” (with JSL McCombie). Investigación Económica, Vol.LXIV, No.253 (Julio-Septiembre): pp.43-88. 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

2004

  • “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

2003

  • “Sustainable Development: A Comment.” Estudios de Economía Aplicada, Vol. 21 (3): 575-581. 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

2002

  • “Demistifying the Principle 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
  • “Unemployment and Profitability in Spain.” Journal of Income Distribution, Vol.11, No.1-2 (Spring-Summer): 7-33. 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
  • “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

2001

  • “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

2000

  • “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

1999

  • “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

1998

  • “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

1996

  • “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

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