Singapore´s mixed success

Thorvaldur Gylfason ()
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Thorvaldur Gylfason: University of Iceland

Development Finance Agenda, 2024, vol. 9, issue 2, 10-11

Abstract: When Singapore seceded from Malaysia to become a sovereign state in 1965, both countries were poor, like nearly all of Asia. Even so, at the time of separation, per capita output and income were almost three times higher in Singapore than in Malaysia. This, to an extent, was as could be expected, because Singapore was and remains a city-state, barely 700 square kilometers in area. By contrast, Malaysia, 450 times larger in area, was a mostly rural settlement. Per capita income is usually higher in urban areas than in rural ones, because densely populated areas have several advantages, including proximity to essential services, which sparsely populated areas lack. The Malaysian hinterland was Singapore´s main source of food and water.

Date: 2024
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