Pitfalls, Fundamentals, and Choices

Hian Hoon

Chapter 11 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 141-148 from World Scientific Publishing Co. Pte. Ltd.

Abstract: There are pitfalls to avoid such as continuing to expect that the economy’s standard of living will continue to grow at the rate that it did during the catch-up phase. Such expectations, if built into workers’ view of their wage prospects, would translate into higher unemployment. There are also fundamental forces at work to deliver an economy that is rich, and yet deliver good jobs and pay. Maintaining economic openness enables the economy to achieve economic dynamism so as to create the resources to achieve economic inclusion. Finally, there are choices to be made that are related to the challenges facing the Singapore economy…

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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