Purpose -The purpose of this paper is to examine the trade linkages and degree of export competitiveness between Singapore, China and India. Design/methodology/approach -Balassa's export performance index and the dynamic RCA index was adopted, as suggested by Kreinin and Plummer to identify the revealed comparative advantage (RCA) of the above countries in industrial products by SITC 1-and 2-digit levels. The Spearman's rank correlation coefficient is used to identify the degree of complementarity between RCA indices. Findings -Given the abundant resources, China and India have comparative advantage in a broad range of manufactured goods as compared to Singapore. From the disaggregated analysis at 2-digit level, the paper finds that the Singapore and China exports are complements, although the degree of complementarity has being declining over time. Meanwhile, Singapore and India exports are found to be stronger complements and stable over time. The results also show that China and India exports are strong substitutes. The paper also finds that the export specialization of China and India has experienced significant changes and shifting to new export products over time. Originality/value -Given the recent trade agreements between China and Singapore and India and Singapore, it is important to examine the trade linkages (complementarity/substitutability of trade) between these countries. The paper highlights the importance of China and India in complementing countries such as Singapore as it climbs the technological ladder to maintain its competitiveness in the world market.
The government revenue–income ratio of Sri Lanka has fallen sharply over the years, especially from 1990. The trend can be observed in many revenue components too. As the declining revenue–income ratio casts serious concerns over the resiliency of the country's tax system, this article sheds light on the issue by estimating the buoyancy parameters of tax functions. Results show that the long–term responsiveness to income is absolutely low in corporate income taxes. Further, the buoyancy of general goods and service tax is biased downwards due to non–structural factors. Nonetheless, personal income, excise and import taxes grow in relation to their tax bases. The non–tax revenue component also reports an almost one–for–one relation–ship with the base variable proxy. Depending on the estimated results, we claim that the low buoyancy of corporate income tax and the susceptibility of general goods and service tax to unexpected non–structural shocks are the main causes of the declining revenue–gross domestic product (GDP) ratio.
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