| บทคัดย่อ(English) |
The objective of this study is to examine the sources of economicgrowth especially the total factor productivity growth in Thailand during1977-1999, using the Growth Accounting Method. Three different methods areused to adjust the crude total factor productivity growth in order toseparate the effects of business fluctuation, the quality change of laborinputs, and the sectoral labor mobility. The multiple regression analysisis used to investigate the sources of the total factor productivity growthas shown in the last section. The obtained results show that the percentage contribution of thetotal factor productivity growth to economic growth was only 20.48, whilethe input growth accounted for 79.52 percent. For sectoral analysis, theresults were similar to the result of the overall economy. The relativecontribution of capital input to output growth was the main source of theoutput growth in almost all sectors, except in the agricultural sectorwhich the total factor productivity growth was the main source of theoutput growth. The results of the labor quality improvement and sectoral labormobility adjusted for total factor productivity growth were lower than thecrude total factor productivity growth, while the total factor productivitygrowth adjusted for the business fluctuation was higher than the crude one.The regression results show that the export growth rate, the importedcapital growth rate, the growth rate of share of labor in non-agriculturalsector, and the growth rate of share of labor with university educationwere the main factors determining the total factor productivity growth.Therefore, it is recommended that trade liberalization, investmentpromotion policy, and the human resource development policy playedsignificant impacts on the overall productivity. However, these factorshave to be developed at the same pace with the technological charge for thesustainable development. |