Munich Personal RePEc Archive

Estimates of the long-run growth rate of Singapore with a CES production function

Rao, B. Bhaskara and Shankar, Sriram (2011): Estimates of the long-run growth rate of Singapore with a CES production function.

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Abstract

This paper estimates with the Bayesian methods a CES production function for Singapore for 1960-2009. It is found that the elasticity of substitution is 0.6, technical progress is labour augmenting and the steady state growth rate of Singapore is about 1.8%.

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