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Lootable Resources and Political Virtue: The Economic Governance of Lee Kuan Yew, Ferdinand Marcos, and Chiang Kai-shek Compared

    https://doi.org/10.1142/9789813236493_0013Cited by:0 (Source: Crossref)
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    Abstract:

    Singapore’s Lee Kuan Yew (1959–90) and Ferdinand Marcos of the Philippines (1965–86) coexisted under similar geo-political pressures and espoused similar socio-political philosophies. Yet, Lee Kuan Yew’s rule derived credibility from a reputation for corruption-free governance, sobriety, and growth, while Ferdinand Marcos’ regime became famous for grand scale larceny, and stealing foreign aid for personal profit and gain. Lee established critical and durable limits that channeled government behavior into activities compatible with economic development thereby surpassing any of his regional rivials in competent public policy. In this article, we will explore the institutional features that were the source of different incentives for the promotion of economic development in Singapore and the Philippines…