Special Issue: A Fifty-Year Retrospective on the Singapore Economy; Guest Editor: Linda Y. C Lim, University of MichiganNo Access

LESSONS OF SINGAPORE'S DEVELOPMENT FOR OTHER DEVELOPING ECONOMIES

TILAK ABEYSINGHE

TILAK ABEYSINGHE

Department of Economics, National University of Singapore, Singapore

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https://doi.org/10.1142/S0217590815500290Cited by:4 (Source: Crossref)

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:

JEL: O20, O21

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