Estimates of the long-run growth rate of Singapore with a CES production function
This article estimates using the Bayesian methods a Constant Elasticity of Substitution (CES) production function for Singapore for 1960--2009. It is found that the elasticity of substitution is 0.6, technical progress is labour augmenting and the Steady-State Growth Rate (SSGR) of Singapore is about 1.8%.
Year of publication: |
2012
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Authors: | Shankar, Sriram ; Rao, B. Bhaskara |
Published in: |
Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 19.2012, 15, p. 1525-1530
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Publisher: |
Taylor & Francis Journals |
Saved in:
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