Suchergebnisse

This paper examines the export competitiveness of the manufacturing sector in Singapore. More specifically, we examine how the existence of import content of exports, productivity gains, and profit margins affect the competitiveness of Singapore's manufacturing exports. Using proxies such as price of exports, price of imports, unit business costs, and net operating surplus over manufacturing output, we analyze our results empirically and seek to show the significance of these variables in affecting the export competitiveness in the unique case of Singapore. As price of exports and price of imports are both expressed in Singapore dollars (SGD) and this captures the exchange rate, we can assess the impact of a stronger SGD on the export competitiveness of Singapore's manufacturing sector. Traditional economic notions according to Mundell–Fleming model have predominantly assumed that the appreciation of local currency would stimulate imports and harm exports, vice versa. However, in the case of Singapore where there is a high import content in exports, our paper reveals that exports are not adversely affected by an appreciation of SGD. This is attributed to the direct causal relationship between import prices and export prices that helps to minimize the effects of a higher cost of export production brought about by appreciation, with lower import costs. Furthermore, the impacts of productivity growth and profit margins on export competitiveness are very small, supporting the notion that Singapore exporters are price-takers.

Abstract. The South China Sea faces widespread tsunami risks from diverse sources, including trench megathrusts, intraplate earthquakes, and landslides. However, historical and geological records to constrain worse-case simulations are scarce. The cliff-top basalt boulders on the Penghu Islands in the Taiwan Strait provide wave estimates from incipient motion formulas and stratigraphic links to the probable sources. Calibrating for ancient local sea levels and a 100-year surge indicates that storm waves in the shallow interisland bathymetry only enable boulder sliding–rolling below the 2.5 m high cliff. A minimum tsunami wave height of ∼ 3.2 m is necessary for cliff-top overflow to exceed boulder height and terminal rolling before deposition. Coeval gravels in two other outcrops also record the time and extent of tsunami deposition with beach-derived bioclasts, stranded pumices, a sharp base, matrix support, poor sorting, and elevations surpassing the 100-year surge. These gravels mark local minimum wave run-ups, reaching 2.4–4.0 m above sea level. The radiocarbon age of the studied boulder, between 1575 and 1706, suggests a probable tie to the disastrous 1661 earthquake in southwest Taiwan and the megathrust source in the northern Manila Trench.