Abstract
This article estimates using the Bayesian methods a Constant Elasticity of Substitution (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 (SSGR) of Singapore is about 1.8%.
Original language | English |
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Pages (from-to) | 1525-1530 |
Number of pages | 26 |
Journal | Applied Economics Letters |
Volume | 19 |
Issue number | 15 |
DOIs | |
Publication status | Published - 2012 |
Keywords
- Bayesian methods
- Singapore
- economics
- growth rates