LESSONS OF SINGAPORE'S DEVELOPMENT FOR OTHER DEVELOPING ECONOMIES

Tilak Abeysinghe

The Singapore Economic Review (SER), 2015, vol. 60, issue 03, 1-13

Abstract: While Singapore is grappling with policy options to sustain its success over the next 50 years, the developing world is wondering what made it such a success so far. By looking at some developing countries that are stuck in a roller-coaster ride of economic development I highlight some policy lessons they can learn from Singapore's success story. In a nutshell, as pointed out by Singapore's economic architect, Dr. Goh Keng Swee, non-economic factors matter more than the economic factors for a successful take-off of a developing economy. The paper also highlights some complementary development strategies that are instructive to developing economies.

Keywords: Non-economic factors; political stability; quality of governance; development strategies; O20; O21 (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1142/S0217590815500290

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