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How IncomeElastic Is The Consumers Demand For Services In Singapore?

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  • M. Renuka
  • K. P. Kalirajan

Abstract

Although economic theory indicares that services are income elastic, empirical Evidence on this issue has not been conclusive. Using time series dat from 1965 to 1996 this paper ettempts to test whether consumer's demand for services is income elastic in Singapore. Unlike in other studies,the stationary of the macro economic variables used in this analysis is tested to obtain more reliable estimates. The empirical results show that demand for services is not income elastic in Singapore. [C12, C22]

Suggested Citation

  • M. Renuka & K. P. Kalirajan, 2002. "How IncomeElastic Is The Consumers Demand For Services In Singapore?," International Economic Journal, Taylor & Francis Journals, vol. 16(1), pages 95-104.
    • Handle: RePEc:taf:intecj:v:16:y:2002:i:1:p:95-104
    DOI: 10.1080/10168730200000005
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    References listed on IDEAS

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    1. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
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    4. Leamer, Edward E, 1981. "Is It a Demand Curve, or Is It a Supply Curve? Partial Identification through Inequality Constraints," The Review of Economics and Statistics, MIT Press, vol. 63(3), pages 319-327, August.
    5. Bergstrand, Jeffrey H, 1991. "Structural Determinants of Real Exchange Rates and National Price Levels: Some Empirical Evidence," American Economic Review, American Economic Association, vol. 81(1), pages 325-334, March.
    6. Cheung, Yin-Wong & Lai, Kon S., 1992. "International evidence on output persistence from postwar data," Economics Letters, Elsevier, vol. 38(4), pages 435-441, April.
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    Cited by:

    1. Satyanarayan Kothe, 2014. "Price and Income Elasticity of Demand for Services in India: A Macro Analysis," EcoMod2014 7355, EcoMod.
    2. Fabio Santeramo, 2015. "A cursory review of the identification strategies," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 3(1), pages 1-8, December.
    3. Muhammad Salam & Javed Iqbal & Anwar Hussain & Hamid Iqbal, 2018. "The Determinants of Services Sector Growth: A Comparative Analysis of Selected Developed and Developing Economies," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 57(1), pages 27-44.
    4. Santeramo, Fabio Gaetano, 2014. "On the Estimation of Supply and Demand Elasticities of Agricultural Commodites," MPRA Paper 56126, University Library of Munich, Germany.

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