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Output and productivity comparisons of the Singapore and Hong Kong wholesale and retail trade sectors, 2001–2008

Lee, Boon L. (2012) Output and productivity comparisons of the Singapore and Hong Kong wholesale and retail trade sectors, 2001–2008. Asian-Pacific Economic Literature, 26(2), pp. 104-120.

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Abstract

This paper employs the industry of origin approach to compare value-added and labour productivity of Singapore and Hong Kong’s wholesale and retail sectors for the period 2001–08. The direct comparison between these two economies was motivated by the statement of the Singapore Government that its services sector, especially the retail sector, lagged behind Hong Kong’s productivity levels. The results show that since 2005, Singapore’s wholesale and retail sector performance in terms of labour productivity has been below Hong Kong’s level, largely due to the poor performance of its retail sector arising from an influx of foreign workers. Results from total factor productivity analysis of these two economies also suggest that Hong Kong’s better performance (since 2005) was largely due to its ability to employ more educated and trained workers with limited use of capital. The results suggest that polices that have worked in Hong Kong may not work in Singapore because its population is more diverse, which poses a challenge to policymakers in raising its productivity level.

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ID Code: 55095
Item Type: Journal Article
DOI: 10.1111/j.1467-8411.2012.01341.x
Subjects: Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Economics & Finance
Copyright Owner: Copyright 2012 Wiley-Blackwell Publishing Asia
Deposited On: 23 Nov 2012 10:40
Last Modified: 26 Nov 2012 09:22

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