Please use this identifier to cite or link to this item: http://scholarbank.nus.edu.sg/handle/10635/147483
Title: IMPACT OF SELECTED BILATERAL FTAS ON SINGAPORE’S EXPORTS & IMPORTS: OVERALL EFFECTS AND IMPACT ON EXPORT & IMPORT DEMAND BEHAVIOR
Authors: KHINE THET SUU
Issue Date: 2009
Citation: KHINE THET SUU (2009). IMPACT OF SELECTED BILATERAL FTAS ON SINGAPORE’S EXPORTS & IMPORTS: OVERALL EFFECTS AND IMPACT ON EXPORT & IMPORT DEMAND BEHAVIOR. ScholarBank@NUS Repository.
Abstract: Since the signing of its first FTA under the ASEAN Free Trade Area (AFTA) in 1993, Singapore's network of FTAs has expanded to cover 13 regional and bilateral FTAs with 23 trading partners. This paper seeks to conduct an empirical study of four of Singapore?s oldest and most significant bilateral FTAs. The analysis covers the FTAs? impacts on the respective export and import flows in addition to their effects on export and import demand behavior (via income elasticity and price elasticity of demand). An export and import demand function approach is adopted in this study using quarterly data from 1980 to 2007 and a Seemingly Unrelated Regression Method is used to take into consideration cross-equation correlations. Variations of impact across time are also incorporated into the empirical model via a dynamic model specification. Most of the four bilateral FTAs are found to have not only increased Singapore?s export and import flows but also increased the income and price elasticity of export and import demand. Income elasticity of export demand was found to have increased on average by 75% while that of import demand was found to have increased on average by 87%. Price elasticity of export demand was found to have increased on average by 165%. Possible cross-FTA interaction effects are explored further. Lastly, FTAs? role in maintaining Singapore?s long term competitiveness and sustaining economic growth is discussed based on these findings.
URI: http://scholarbank.nus.edu.sg/handle/10635/147483
Appears in Collections:Bachelor's Theses

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