Wages, Profitability, and Growth in a Small Open Economy
This paper examines issues raised by the evolution of a rapidly growing small open economy-Singapore-from a labor-intensive, low-technology production base to a capital-intensive, high-technology, knowledge-and-skill-intensive emphasis as it approached the limits of its resource constraints in the l...
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| Format: | eBook |
| Language: | English |
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Washington, D.C.
International Monetary Fund
1990
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| Series: | IMF Working Papers
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| Online Access: | |
| Collection: | International Monetary Fund - Collection details see MPG.ReNa |
| Summary: | This paper examines issues raised by the evolution of a rapidly growing small open economy-Singapore-from a labor-intensive, low-technology production base to a capital-intensive, high-technology, knowledge-and-skill-intensive emphasis as it approached the limits of its resource constraints in the labor market. In order to analyze the process of restructuring a model of endogenous growth for a small open economy that is driven by increases in labor productivity from learning and that allows for the dynamic acquisition of comparative advantage is developed. In this framework the effects of various policies and exogenous shocks on the direction and pace of restructuring are investigated |
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| Physical Description: | 40 pages |
| ISBN: | 9781451974188 |