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The Political Economy of Development in Singapore

Siddiqui, Kalim (2010) The Political Economy of Development in Singapore. Research in Applied Economics, 2 (2). E4. ISSN 1948-5433

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    Abstract

    Singapore has gone through a rapid transformation during the last forty-five years. From an entrepot predominantly towards commerce and services in the mid-1960s into an economy, which presently specialising in high value manufacturing activities, and regional financial hub for business services in East Asia. This paper aims to overview the issues of the role of state and foreign investment, which has played an important role in achieving rapid economic growth. For instance, in 2002 Singapore’s GDP was 24 times compared to 1965 levels. The average annual growth rate for GDP between 1965 and 2006 was nearly 8 % and GNP increased slightly higher over this period. The study examines the international environment and how it contributed to achieve higher rates of growth. It seems that these aspects are overlooked by the researchers. And with the end of the Cold War and with the recent surge in globalisation of production Singapore’s economy is being affected. The study will also argue that the historical factors seem to be important in determining a country’s development strategies

    Item Type: Article
    Uncontrolled Keywords: Singapore economy, MNEs, FDI, The role of state and economic diversification
    Subjects: H Social Sciences > H Social Sciences (General)
    H Social Sciences > HB Economic Theory
    Schools: The Business School
    The Business School > Emerging Markets Research Group
    Related URLs:
    Depositing User: Sara Taylor
    Date Deposited: 07 Dec 2010 16:44
    Last Modified: 18 May 2011 10:21
    URI: http://eprints.hud.ac.uk/id/eprint/9187

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