Description

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.

More publications in this series: Working Papers

More publications by: Elif Arbatli ; Gee Hee Hong