Abstract
Although considerable work has been done in the past two decades to quantitatively analyse the production and growth experience of many developing and developed countries, relatively little research has been done in evaluating the performance of the newly industrialised economies. Based on the 1989 census data, relevant production indices of ten major manufacturing industries in Singapore were analysed by estimating their stochastic production frontiers. The indices analysed include the average technical efficiency of firms, capital intensities, capital and labour elasticities and the marginal rate of technical substitution between labour and capital. In addition, technical inefficiencies of individual firms were estimated and collated with several hypothesized influences. These estimates will provide policy–makers with valuable information to evaluate the performance of the industries and to formulate strategic plans to lead the economy to higher economic growth.
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