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Singapore's Productivity Puzzle: Estimating Singapore's Total Factor Productivity Growth Using the Dual Method

18 November 2010

This article has been migrated from an earlier version of the site and may display formatting inconsistencies.

Conventional estimates of Singapore’s total factor productivity (TFP) growth point to a “productivity puzzle”. TFP growth in Singapore has been low throughout the past decades, despite an improving education profile for the population, increasing investments in research and development (R&D) and rising capital inflows. Moreover, this phenomenon appears unique to Singapore. Estimates of TFP growth in Hong Kong, another small open economy, are significantly higher.

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