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Growth and Productivity in Singapore Manufacturing Industries: 1975–1998

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Consistently defined price and volume relatives are constructed for 18 manufacturing industries under the two-digit industry classifications officially adopted in 1996. Industry-specific output and materials price deflators for the period 1974–1998 are also constructed. Where the comparison is possible, we arrive at a markedly different conclusion from those in Tsao (1982, 1985) and Young (1994), and narrow the cause to a difference in the choice of output measure. The updated accounts show that the conventional index number measure of total factor productivity growth (TFPG) for Singapore manufacturing is 2.7% per annum for the period 1975–1998, and exhibits a cyclical pattern over time.
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Keywords: growth accounting; manufacturing productivity; total factor productivity

Document Type: Original Article

Affiliations: Nanyang Technological University, Singapore

Publication date: September 1, 2002

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