Labor Skills and Foreign Investment in a Dynamic Economy: Estimating the Knowledge-Capital Model for Singapore

Gnanaraj Chellaraj (), Keith Maskus and Aaditya Mattoo

No 2009-21, School of Economics and Public Policy Working Papers from University of Adelaide, School of Economics and Public Policy

Abstract: Singapore is an interesting example of how the pattern of foreign investment changes with economic development. In this paper, we analyze inbound and outbound investment between Singapore and a sample of industrialized and developing countries over the period 1984-2003. We find that SingaporeÂ’s two-way investment with industrialized nations has shifted into skill-seeking activities over the period, while SingaporeÂ’s investments in developing countries have increased sharply and become concentrated in labor-seeking activities. SingaporeÂ’s increasing skill abundance relative to all countries in our sample accounted for 41 per cent of average inbound stocks during the period, i.e. US$18 billion annually; the corresponding figure for outbound stocks was 40 per cent, i.e. US$5.51 billion annually.

Pages: 34 pages
Date: 2009
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Related works:
Journal Article: Labor Skills and Foreign Investment in a Dynamic Economy: Estimating the Knowledge-capital Model for Singapore (2013)
Working Paper: Labor skills and foreign investment in a dynamic economy: estimating the knowledge-capital model for Singapore (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:adl:wpaper:2009-21

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