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The conundrum of economic miracle: manufacturing growth without TFP growth

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  • Chia-Hung SunAuthor-Email: chsun@uow.edu.au

    (University of Wollongong, Australia and National Chung Cheng University, Taiwan)

Abstract

The findings of low or even negative total factor productivity (TFP) growth in Singapore’s manufacturing industries by Young (1995) and many others has been a controversial issue in view of its crucial role in the future sustainability of Singaporean manufacturing. This paper applies the varying coefficients frontier model to re-examine productivity growth in Singapore’s manufacturing at the 3-digit industry level over the period 1970–1997. The results indicate that Singapore’s manufacturing has on average experienced a –0.8 percent TFP growth per annum although the extent of TFP growth improved slightly in the 1990s. The decomposition of TFP growth into technical efficiency change and technological progress, found technological regress is responsible for the negative TFP growth. Factor accumulation remains the principal contributor to the economic miracle of Singapore’s manufacturing industries.

Suggested Citation

  • Chia-Hung SunAuthor-Email: chsun@uow.edu.au, 2007. "The conundrum of economic miracle: manufacturing growth without TFP growth," Journal of Developing Areas, Tennessee State University, College of Business, vol. 40(2), pages 157-172, January-M.
    • Handle: RePEc:jda:journl:vol.40:year:2007:issue2:pp:157-172
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    Cited by:

    1. Boon L Lee, 2012. "Efficiency and Productivity of Singapore's Manufacturing Sector 2001-2010: An analysis using Simar and Wilson's (2007) bootstrapped truncated approach," School of Economics and Finance Discussion Papers and Working Papers Series 283, School of Economics and Finance, Queensland University of Technology.

    More about this item

    Keywords

    Singapore; Varying Coefficients Frontier Model; Manufacturing; Total Factor Productivity Growth; Technical Efficiency Change; Technological Progress;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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