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Estimates of the long-run growth rate of Singapore with a CES production function

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  • Rao, B. Bhaskara
  • Shankar, Sriram

Abstract

This paper estimates with the Bayesian methods a 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 of Singapore is about 1.8%.

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File URL: http://mpra.ub.uni-muenchen.de/31601/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 31601.

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Date of creation: 13 Jun 2011
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Handle: RePEc:pra:mprapa:31601

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Keywords: Bayesian methods; CES production function and Technical progress;

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  1. Dale J. Poirier, 1995. "Intermediate Statistics and Econometrics: A Comparative Approach," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262161494.
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