Estimates of the long-run growth rate of Singapore with a CES production function
AbstractThis 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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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 31601.
Date of creation: 13 Jun 2011
Date of revision:
Bayesian methods; CES production function and Technical progress;
Other versions of this item:
- Sriram Shankar & B. Bhaskara Rao, 2012. "Estimates of the long-run growth rate of Singapore with a CES production function," Applied Economics Letters, Taylor and Francis Journals, vol. 19(15), pages 1525-1530, October.
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
- C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-06-25 (All new papers)
- NEP-EFF-2011-06-25 (Efficiency & Productivity)
- NEP-FDG-2011-06-25 (Financial Development & Growth)
- NEP-SEA-2011-06-25 (South East Asia)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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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