ECONOMIC POLICY UNCERTAINTY AND THE REAL ECONOMY OF SINGAPORE

Khandokar Istiak ()
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Khandokar Istiak: University of South Alabama, Mobile, Alabama 36688, USA

The Singapore Economic Review (SER), 2022, vol. 67, issue 04, 1307-1331

Abstract: This paper investigates (for the first time) the impact of the economic policy uncertainties of Singapore and its major trading partners on Singapore’s industrial production and exports. The study uses monthly data from January 2003 to August 2019, correlation analysis, spillover index analysis and a structural vector autoregression model to perform the investigation. Using the newly invented Singaporean economic policy uncertainty index, the research finds that it is a good predictor of industrial production. It is found that, in general, uncertainty depresses Singapore’s industrial production and exports. The paper suggests that policymakers promote new entrepreneurship and build a skilled labor force to minimize the impact of uncertainty on the economy of Singapore.

Keywords: Economic policy uncertainty; industrial production; export; structural VAR (search for similar items in EconPapers)
JEL-codes: D81 E23 F41 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:wsi:serxxx:v:67:y:2022:i:04:n:s0217590820460042

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DOI: 10.1142/S0217590820460042

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