Singapore's phenomenal transformation from Third World to First World status has been of great interest to economists around the world yet there has been little quantitative research done on its economy and institutions. This innovative new research monograph fills the lacunae by presenting the Singapore economy through a macroeconometric model and laying the foundations for further research.
Using formal econometric analysis and novel modelling techniques, Abeysinghe and Choy offer rare insights into how the Singapore economy works. Each of the major chapters discusses the implications of the empirical findings for current policy and an entire chapter has been devoted to macroeconomic policy simulations.
This book is a unique introduction to the Singapore economy and would be of interest to econometric modellers and policy makers in Singapore as well as advanced undergraduates and graduate researchers interested in modelling small open economies.
1. Introduction 2. The Aggregate Consumption Function 3. Modelling Investment Expenditures 4. The Trade Sector 5. The Labour Market 6. The Sectorial Block 7. Ancillaries and Identities 8. Multiplier Analysis 9. Policy Simulations. Appendix A: Variables and Data Sources. Appendix B: Listing of Equations and Variables