Productivity, Technical and Efficiency Change in Singapore's Services Sector, 2005 to 2008
AbstractThe current study was motivated by statements made by the Economic Strategies Committee that Singapore's recent productivity levels in services were well below countries such as the US, Japan and Hong Kong. Massive employment of foreign workers was cited as the reason for poor productivity levels. To shed more light on Singapore's falling productivity, a nonparametric Malmquist productivity index was employed which provides measures of productivity change, technical change and efficiency change. The findings reveal that growth in total factor productivity was attributed to technical change with no improvement in efficiency change. Such results suggest that gains from TFP were input-driven rather than from a 'best-practice' approach such as improvements in operations or better resource allocation.
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Bibliographic InfoPaper provided by School of Economics and Finance, Queensland University of Technology in its series School of Economics and Finance Discussion Papers and Working Papers Series with number 269.
Length: 28 pages
Date of creation: 06 Sep 2011
Date of revision:
Efficiency; productivity; Malmquist indices; Singapore services;
Other versions of this item:
- Boon L. Lee, 2013. "Productivity, technical and efficiency change in Singapore's services sector, 2005 to 2008," Applied Economics, Taylor and Francis Journals, vol. 45(15), pages 2023-2029, May.
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-10-15 (All new papers)
- NEP-EFF-2011-10-15 (Efficiency & Productivity)
- NEP-SEA-2011-10-15 (South East Asia)
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