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Singapore’s Export Elasticities: A Disaggregated Look into the Role of Global Value Chains and Economic Complexity
Author:
Ms. Elif C Arbatli Saxegaard
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and
Mr. Gee Hee Hong null

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Series:
IMF Working Papers
Volume/Issue:
Volume 2016: Issue 052
Language:
English
Publication Date:
07 Mar 2016
DOI:
https://doi.org/10.5089/9781513556901.001
ISBN:
9781513556901
ISSN:
1018-5941
Pages:
19
Keywords:
WP; export; product; elasticity; export elasticity; trade; Trade elasticities; trade structure; global supply chain; economic complexity; product mix; export volume; export orientation; export products; trade elasticities decline; trade elasticity; product complexity; petroleum products sector stand; Exports; Price elasticity; Export prices; Imports; Demand elasticity; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund