Modelling Small Economy Exports: The Case of Singapore

Tilak Abeysinghe and Keen Meng Choy ()

Trade Working Papers from East Asian Bureau of Economic Research

Abstract: This paper sheds further light on the debate spearheaded by Riedel (1988) on the specification of a small country export function. The theoretical and empirical analysis in the paper shows that while the price-taker assumption cannot be rejected, the export function for Singapore should not be construed as a standard export supply equation. As argued by Kapur (1983) instead, it is an export function with both demand and supply factors playing a role. We arrived at the final model specification by taking into consideration changes in the import content of exports over time. The paper also provides a new methodology for deriving a quarterly series of manu7facturing net capital stock.

Keywords: price taker; demand constraint; export function; import content; restricted cointegrating space (search for similar items in EconPapers)
JEL-codes: C32 F14 F41 (search for similar items in EconPapers)
Date: 2005-01
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Citations: View citations in EconPapers (1)

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