THE IMPACT OF R&D ON THE SINGAPORE ECONOMY: AN EMPIRICAL EVALUATION

Yuen Ping Ho (), Poh Wong () and Mun Heng Toh ()
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Yuen Ping Ho: NUS Entrepreneurship Centre, National University of Singapore, Level 5, 21 Heng Mui Keng Terrace, Singapore 119613, Singapore
Mun Heng Toh: NUS Business School, National University of Singapore, Business Link, Singapore 117591, Singapore

The Singapore Economic Review (SER), 2009, vol. 54, issue 01, 1-20

Abstract: This paper provides empirical estimates for the impact of R&D on economic growth in Singapore. The Cobb–Douglas based analysis found that R&D investment had a significant impact on total factor productivity performance in the last 20 years and established a long-term equilibrium relationship between R&D investments and TFP. However, compared to OECD countries, the impact of R&D on growth in Singapore is not as strong. To catch up with the developed nations in terms of R&D productivity not only requires increasing R&D intensity in Singapore but also more efficient exploitation of domestic R&D activity.

Keywords: Economic growth; R&D expenditure; Total factor productivity (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (9)

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Working Paper: The Impact of R&D on the Singapore Economy:An Empirical Evaluation (2005)
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DOI: 10.1142/S0217590809003239

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