Economic Growth In Singapore Research Articles

The Economic Growth of Singapore: Trade and Development in the Twentieth Century.

The Economic Growth of Singapore: Trade and Development in the Twentieth Century.

Singapore: Consolidating the New Political Economy

In the early 1990s the Singapore state remains constant in its attention to sustaining economic growth and maintaining political stability. In pursuing these twin goals, however, the state responds to both the changing contours of the global economy and the widening aspirations of the citizenry at home. At the beginning of the decade, the political leadership launched the internationali zation of the economy with the concept of the Growth Triangle, forging mutually advantageous economic links between Singapore and its immediate neighbours, the state of Johor in Malaysia and Riau Island in Indonesia. In 1994 Singapore's regionalization drive began to assume a spectacular momentum and breadth with the republic establishing a new phase of economic ties with the two Asian giants, India and the People's Republic of China. The active and innovative role of the state in pursuing economic diplomacy with the emerging Asian countries ? without neglecting the developed countries ? was testimony to its genius in extending the frontiers of Singapore's economic growth. By the same token, the state took measures to enhance its capacity for seizing the new found opportunities in the Asian transformation. The year 1994 saw signs of a renewed pragmatism and a pronounced emphasis on political authority and social discipline. The continuing problem of political and administrative recruitment was addressed by establishing benchmarks for the salaries of government ministers and senior civil servants, with reference to the earnings of top professionals and executives in the private sector. The avowal of law and order, along with the assertion of national sovereignty, figured prominently in the official discourse on the caning of Michael Fay, an expatriate American teenager who was found guilty of vandalism. The year also opened and closed with official signals on the parameters of artistic and critical expression in Singapore.

Financial development and economic growth in Singapore: demand-following or supply-leading?

Two competing hypotheses regarding financial development and economic growth are empirically investigated, in the context of supply-leading and demand-following finance. The focus is on Singapore as a country which has implemented financial restructuring strategies that, arguably, amount to a ‘supply-leading finance’ experiment. By drawing on some developments in economic theory over the last three decades, hypotheses are formulated within a statistical framework, namely a bivariate vector autoregressive (BVAR) model. A battery of econometric techniques are applied to test for stationarity, cointegration, exogeneity and Granger-causality. The evidence largely supports the supply-leading hypothesis only when broad monetary aggregates and a monetization variable are used as surrogates for financial development. It is concluded that there is a plausible case for those economies which intend to adopt a financial restructuring strategy driven by a supply-leading policy stance that involves enhanced monetization of the economy and bank intermediation.

Singapore's strategy for the 1990s

This article analyses the reasons for Singapore's economic growth and examines the future for the economy in the 1990s on the assumption that government and business continue to pursue a policy of export-driven growth. The authors examine the comparative advantages and disadvantages of Singapore and propose a strategy to see Singapore through the next decade.

Monetization, Financial Liberalization, and Economic Development

Previous articleNext article No AccessMonetization, Financial Liberalization, and Economic DevelopmentPrem S. LaumasPrem S. Laumas Search for more articles by this author PDFPDF PLUS Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinkedInRedditEmail SectionsMoreDetailsFiguresReferencesCited by Economic Development and Cultural Change Volume 38, Number 2Jan., 1990 Article DOIhttps://doi.org/10.1086/451798 Views: 8Total views on this site Citations: 16Citations are reported from Crossref Copyright 1990 The University of ChicagoPDF download Crossref reports the following articles citing this article:Konstantinos Loizos THE FINANCIAL REPRESSION-LIBERALIZATION DEBATE: TAKING STOCK, LOOKING FOR A SYNTHESIS, Journal of Economic Surveys 32, no.22 (Jan 2017): 440–468.https://doi.org/10.1111/joes.12195Mikhail Stolbov The Finance-Growth Nexus Revisited: From Origins to a Modern Theoretical Landscape, Economics 7, no.11 (Jan 2013).https://doi.org/10.5018/economics-ejournal.ja.2013-2Sylviane Guillaumont Jeanneney, Kangni Kpodar Financial Development and Poverty Reduction: Can There be a Benefit without a Cost?, Journal of Development Studies 47, no.11 (Jan 2011): 143–163.https://doi.org/10.1080/00220388.2010.506918Tomoe Moore A Critical Appraisal of McKinnon’s Complementarity Hypothesis: Does the Real Rate of Return on Money Matter for Investment in Developing Countries?, World Development 38, no.33 (Mar 2010): 260–269.https://doi.org/10.1016/j.worlddev.2009.09.010Sylviane Guillaumont Jeanneney, , Kangni Kpodar, Financial Development and Poverty Reduction: Can there Be a Benefit without a Cost?, IMF Working Papers 08, no.6262 (Jan 2008): 1.https://doi.org/10.5089/9781451869248.001 Eric J. Pentecost / Tomoe Moore Financial Liberalization in India and a New Test of the Complementarity Hypothesis Pentecost and Moore, Economic Development and Cultural Change 54, no.22 (Jul 2015): 487–502.https://doi.org/10.1086/497007PAUL A. NATKE Financial repression and firm self-financing of investment: empirical evidence from Brazil, Applied Economics 31, no.88 (Aug 1999): 1009–1019.https://doi.org/10.1080/000368499323724A. Marvasti, David J. Smyth The effect of barter on the demand for money: an empirical analysis, Economics Letters 64, no.11 (Jul 1999): 73–80.https://doi.org/10.1016/S0165-1765(99)00087-7Akbar Marvasti, David Smyth Barter in the US economy:a macroeconomic analysis, Applied Economics 30, no.88 (Oct 2010): 1077–1088.https://doi.org/10.1080/000368498325246Prema‐Chandra Athukorala Interest rates, saving and investment: Evidence from India, Oxford Development Studies 26, no.22 (Jun 1998): 153–169.https://doi.org/10.1080/13600819808424151 Ashfaque H. Khan and Lubna Hasan Financial Liberalization, Savings, and Economic Development in Pakistan Khan et al., Economic Development and Cultural Change 46, no.33 (Jul 2015): 581–597.https://doi.org/10.1086/452359Michael J. Athey, Prem S. Laumas Internal funds and corporate investment in India, Journal of Development Economics 45, no.22 (Dec 1994): 287–303.https://doi.org/10.1016/0304-3878(94)90034-5Victor Murinde, Fern S. H. Eng Financial development and economic growth in Singapore: demand-following or supply-leading?, Applied Financial Economics 4, no.66 (Dec 1994): 391–404.https://doi.org/10.1080/758518671Kusum W. Ketkar Public sector banking, efficiency and economic growth in India, World Development 21, no.1010 (Oct 1993): 1685–1697.https://doi.org/10.1016/0305-750X(93)90102-FPrem S. Laumas, Susan Porter-Hudak Wealth, income, and consumption in a developing economy, Journal of Macroeconomics 14, no.22 (Mar 1992): 349–358.https://doi.org/10.1016/0164-0704(92)90049-EPrem S. Laumas WEALTH AND CONSUMER HORIZON: EVIDENCE FROM A DEVELOPING ECONOMY, Review of Income and Wealth 38, no.11 (Mar 1992): 71–79.https://doi.org/10.1111/j.1475-4991.1992.tb00402.x

Construction industry and economic growth in Singapore

The relationship between the construction industry and the economy in the course of national socioeconomic development has been studied by several writers. Singapore's recent advancement from a developing country to a newly industrializing one in less than a generation provides the opportunity to test some of these hypotheses. The article considers the role of the construction industry in Singapore's economy between 1960 and 1986. After studying the part construction played in the development process and the resulting structural changes that occurred within the industry, direct investment in construction by the public sector and its use to influence the direction of the economy as well as facilitate efforts to improve the industry are discussed. Government's attempts to manage the development of the local construction industry and the nature of the industry at present are also considered. A chronological approach is adopted under each of the main parts of the paper.

American and Japanese management practices in their Singapore subsidiaries

Multinational corporations have made significant contributions to the economic growth of Singapore; American and Japanese companies are among those in the forefront. This study is aimed at finding the extent to which US and Japanese companies have transferred and implemented the management practices in their subsidiaries operating in Singapore. Extensive and intensive interviews of a small sample of companies in the electronic/electrical industry reveal that the Japanese are not practising what they do in Japan while the Americans have demonstrated that the transferability of their management practices is feasible and they are workable in Singapore.

Singapore: Its Growth as an Entrepot Port, 1819–1941

Once the premier port in colonial Southeast Asia and one of the foremost in the British Empire, Singapore now ranks as the world's fourth busiest port, tonnagewise, with the second highest per capita G.D.P. in Asia. Its post-war achievements rest on solid historical advantages. A broad historical survey of its commercial growth before World War II is therefore not amiss: the more so, as there has been no such panoramic presentation before. With no natural resources, Singapore's economic growth was almost synonymous with its foreign trade. In most historical works, especially those written before World War II, Singapore has been treated as an integral part of the Straits Settlements or British Malaya, for, until its emergence as a separate nation in August 1965, Singapore as the focal point of reference for researches was not part of the historical consciousness.

Un exemple de "redéploiement industriel" : la Bonneterie Cévenole à Singapour

An example of industrial redistribution : La Bonneterie Cévenole in Singapore. Hosiery is a labour-consuming industry. The settlement of manufactures abroad enables the french manufacturers to fight foreign competition. 70% out of the 3000 jobs in the Bonneterie Cévenole, a manufacture from Ardèche, are now to be found in Portugal, in Spain and in Singapore. Since 1960, the economic growth of Singapore has been based on industrialization. Three stages : substitution industries, labour-consuming industries and, since 1972, highly skilled industries. The interest for Singapore can be explained in quantitative terms (cost of labour, productivity, price of industrial sites) and by more subjective reasons (social environment, political stability, customs facilities).

Financial Development and Economic Growth in Underdeveloped Countries

Publisher Summary This chapter discusses the financial development and economic growth in underdeveloped countries. An observed characteristic of the process of economic development over time, in a market-oriented economy using the price mechanism to allocate resources, is an increase in the number and variety of financial institutions and a substantial rise in the proportion not only of money but also of the total of all financial assets relative to GNP and to tangible wealth. Typical statements indicate that the financial system somehow accommodates—or, to the extent that it malfunctions, it restricts—growth of real per capita output. Such an approach places emphasis on the demand side for financial services; as the economy grows it generates additional and new demands for these services, which bring about a supply response in the growth of the financial system. In this view, the lack of financial institutions in underdeveloped countries is simply an indication of the lack of demand for their services.