Growth Accounting for a Technology Follower in a World of Ideas: The Case of Singapore

Publication Type

Journal Article

Publication Date

3-2010

Abstract

We account for the sources of Singapore's growth by being explicit about the channels through which Singapore benefits from international R&D spillovers. We find that 61.5% of Singapore's real GDP per worker growth over the 1970-2004 period is due to multifactor productivity growth. More specifically, 52.1% of the growth is explained by an increase in the effectiveness of accessing ideas through improvement in Singapore's educational quality as well as increases in machinery imports and foreign direct investment from the G5 countries. Taking account of technology transfer raises the average rate of return to capital to 12.5%.

Keywords

Technological diffusion; Idea production function; Multifactor productivity growth

Discipline

Asian Studies | Growth and Development

Research Areas

Applied Microeconomics

Publication

Journal of Asian Economics

Volume

20

Issue

2

First Page

156

Last Page

173

ISSN

1049-0078

Identifier

10.1016/j.asieco.2008.12.003

Publisher

Elsevier

Additional URL

https://doi.org/10.1016/j.asieco.2008.12.003

This document is currently not available here.

Share

COinS