Feature Articles
Sources of Singapore's Productivity Growth: A Shift-Share Analysis
21 November 2008
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Productivity growth improves the long-term industrial performance and economic competitiveness of a country. Productivity growth has played an important role in helping Singapore to achieve strong economic growth and higher standards of living over the years. This article examines Singapore’s productivity performance during the period 1993-2007 using a “shift-share” analysis framework.
Singapore’s productivity growth generally follows a pro-cyclical pattern…
Singapore’s productivity growth generally follows a pro-cyclical pattern (Exhibit 1). It rises during recovery years due to the lag in hiring as firms boost output, and falls during recessions as firms tend to cut output before they reduce their workforce.
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