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Business Output And Business Experience: Evidence From China's Nongovernmental Businesses, Liangjun Su
Business Output And Business Experience: Evidence From China's Nongovernmental Businesses, Liangjun Su
Research Collection School Of Economics
We study the application of the Solow growth model in China's non-governmental businesses and propose a reasonable modification for it. Our analysis indicates that business experience is closely tied to the output of China's non-governmental businesses. Our major findings include: (1) the business experience has little overall impact on the elasticity of output with respect to labour; (2) the business experience has a large impact on the elasticity of output with respect to capital and the elasticity increases as the business experience increases; (3) the adjusted Solow residual that reflects technological progress exhibits a negative relationship with the business experience, …
The Singapore Model Of Housing And The Welfare State, Sock Yong Phang
The Singapore Model Of Housing And The Welfare State, Sock Yong Phang
Research Collection School Of Economics
While Singapore is not generally regarded as a welfare state, the provision of housing welfare on a large scale has been a defining feature of its welfare system. The extensive housing system has played a useful role in raising savings and homeownership rates as well as contributing to sustained economic growth in general and development of the housing sector in particular. Few would dispute the description of Singapore’s housing policies as 'phenomenally successful' (Ramesh, 2003). Singapore’s economic growth record in the past four decades has brought it from third world to first world status (Lee, 2000), with homeownership widespread at …