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Productivity, Technical and Efficiency Change in Singapore's Services Sector, 2005 to 2008

  • Boon Lee



The 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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Paper 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.

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Length: 28 pages
Date of creation: 06 Sep 2011
Date of revision:
Handle: RePEc:qut:dpaper:269
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  1. Gilbert, R. Alton & Wilson, Paul W., 1998. "Effects of Deregulation on the Productivity of Korean Banks," Journal of Economics and Business, Elsevier, vol. 50(2), pages 133-155, March.
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  3. Boon L. Lee & Andrew C. Worthington & Wai Ho Leong, 2010. "Malmquist Indices Of Pre- And Post-Deregulation Productivity, Efficiency And Technological Change In The Singaporean Banking Sector," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 55(04), pages 599-618.
  4. Simar, Leopold & Wilson, Paul W., 1999. "Estimating and bootstrapping Malmquist indices," European Journal of Operational Research, Elsevier, vol. 115(3), pages 459-471, June.
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  6. Balcombe, Kelvin George & Davidova, Sophia & Latruffe, Laure, 2006. "The Use of Bootstrapped Malmquist Indices to Reassess Productivity Change Findings: An Application to a Sample of Polish Farms," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25793, International Association of Agricultural Economists.
  7. Gerhard Reichmann & Margit Sommersguter-Reichmann, 2010. "Efficiency measures and productivity indexes in the context of university library benchmarking," Applied Economics, Taylor & Francis Journals, vol. 42(3), pages 311-323.
  8. Kim Jong-Il & Lau Lawrence J., 1994. "The Sources of Economic Growth of the East Asian Newly Industrialized Countries," Journal of the Japanese and International Economies, Elsevier, vol. 8(3), pages 235-271, September.
  9. Isidoro Guzman & Carmelo Reverte, 2008. "Productivity and efficiency change and shareholder value: evidence from the Spanish banking sector," Applied Economics, Taylor & Francis Journals, vol. 40(15), pages 2037-2044.
  10. Renuka Mahadevan, 2000. "Sources of output growth in Singapore's services sector," Empirical Economics, Springer, vol. 25(3), pages 495-506.
  11. Nancy Kong & Jose Tongzon, 2006. "Estimating total factor productivity growth in Singapore at sectoral level using data envelopment analysis," Applied Economics, Taylor & Francis Journals, vol. 38(19), pages 2299-2314.
  12. Yung-Ho Chiu & Chun-Mei Ma & Ming-Yuan Sun, 2010. "Efficiency and credit rating in Taiwan banking: data envelopment analysis estimation," Applied Economics, Taylor & Francis Journals, vol. 42(20), pages 2587-2600.
  13. Anthony N. Rezitis, 2006. "Productivity growth in the Greek banking industry: A non-parametric approach," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 119-138, May.
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