A COMPARATIVE STUDY OF SINGAPORE INPUT-OUTPUT TABLES IN 1973 AND 1978

Abstract

In this study, two aspects of comparison have been made generally based on Singapore Input-Output Tables for 1973 and 1978. From the comparison, we hope to detect the implications in the development of the structure of our economy and the direction our economy is heading to and hopefully, to identify the growth are of our economy. The first aspect of comparison is made on a macro basis. We start off by making a non-numerical intertemporal comparison of the productive structure. Next, based on the essential features of an Input-Output Table and the Keynesian and Leontief-Keynesian muiltipliers calculated, we try to find out if there is any change from a very broad prospective. The second aspect of comparison is made on a sectoral basis. Firstly, besides comparing the various primary input contents over time (i.e. imports, import duties, indirect tax, labour income and non-labour income), changes in the role of foreign exchange contribution, employment creation and labour productivity among various sectors/industries in our economy are studied. Secondly, by making use of the various linkage measures, a four­ way classification of sectors/industries is made in trying to identify the shift in importance among sectors/industries in our economy over the period. Thirdly, changes in production and product distribution structures are examined. Fourthly, the stability of our technical structure is tested by making an overall comparison as well as a forward and backward projection. Last but not least, we will look into the change in effect on product price and therefore cost of living of a change in price of primary inputs, particularly, import price, indirect tax and wage rate.