Singapore’s Export Elasticities: A Disaggregated Look into the Role of Global Value Chains and Economic Complexity

By Elif C Arbatli Saxegaard, Gee Hee Hong

March 7, 2016

Preview Citation

Format: Chicago

Elif C Arbatli Saxegaard, and Gee Hee Hong. Singapore’s Export Elasticities: A Disaggregated Look into the Role of Global Value Chains and Economic Complexity, (USA: International Monetary Fund, 2016) accessed December 26, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Singapore is one of the world’s most open economies, with the size of its trade reaching about 350 percent of its GDP. With the rise of highly diversified cross-border production networks, Singapore has come to play an integral role in the global supply chain with heavy reliance on foreign contents in its exports and production. It has also successfully moved up the value chain, exporting goods with high sophistication and economic complexity. Against this backdrop, in this paper, using disaggregate industry/product level trade data, we revisit Singapore’s export elasticities and find that growing participation in global production chains and rising export complexity are important determinants.

Subject: Demand elasticity, Economic theory, Export prices, Exports, Imports, International trade, Price elasticity, Prices

Keywords: Demand elasticity, Economic complexity, Elasticity, Export, Export elasticity, Export orientation, Export prices, Export products, Export volume, Exports, Global, Global supply chain, Imports, Petroleum products sector stand, Price elasticity, Product, Product complexity, Product mix, Trade, Trade elasticities, Trade elasticities decline, Trade elasticity, Trade structure, WP

Publication Details

Pages:

19
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2016/052
Stock No:

WPIEA2016052
ISBN:

9781513556901
ISSN:

1018-5941

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