Standard of Living

Hian Hoon

Chapter 4 in Economic Dynamism, Openness, and Inclusion:How Singapore Can Make the Transition from an Era of Catch-up Growth to Life in a Mature Economy, 2018, pp 73-82 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Over the long term, the standard of living is raised when there is sustained economic growth. However, even when a country has started on a path of sustained growth, the upward climb in living standards is not smooth. There are periodic shocks that cause economies to enter into recessions. Thus there are also business fluctuations that affect inflation and unemployment. In this chapter our focus is on economic growth; the next chapter picks up the theme of business fluctuations…

Keywords: Singapore Economy; Catch-up Growth; Mature Economy; Standard of Living; Jobs; Business; Economic Model (search for similar items in EconPapers)
JEL-codes: F63 (search for similar items in EconPapers)
Date: 2018
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