Singapore's Economic Development Research Articles

Цифровые трансграничные инициативы Экономического сообщества АСЕАН как инструмент развития экономики Сингапура

Цифровые трансграничные инициативы Экономического сообщества АСЕАН как инструмент развития экономики Сингапура

History of Singapore’s Economic Miracle

The article reviews the monograph "Singapore: Economic History" by Mariya G. Osipova, research fellow of the Centre for Southeast Asia, Australia and Oceania of the Institute of Oriental Studies of the Russian Academy of Sciences. The author has managed to show consistently, step by step, the economic development of Singapore during two centuries, disclose both objective and subjective circumstances that led to the transformation of Singapore from a British colony into an innovative and financial hub of the world. At the same time, M.G. Osipova can be called a pioneer in the study of Singapore's economic development in the post-Soviet academic space. It is noted that the value of the monograph is not only to disclose the mechanism of rapid economic growth of Singapore in a short historical period, but also to conclude that the main secret of its "economic miracle" is the creation of a unique national economic model, based on the careful consideration of specific historical conditions of development of Singapore society, its national, religious and cultural characteristics.

ПРЯМІ ІНОЗЕМНІ ІНВЕСТИЦІЇ ЯК ФАКТОР ЕКОНОМІЧНОГО РОЗВИТКУ СИНГАПУРУ

The article examines the impact of foreign direct investment on the economic development of Singapore. Known for its successful model of an innovative economy, Singapore attracts a significant amount of FDI. This article analyzes the role of foreign direct investment in strengthening economic stability and increasing the country's competitiveness. It examines the impact of foreign investment on aspects such as increasing production capacity, developing infrastructure, improving the quality of education and research, creating new jobs and supporting innovative projects. Additionally, the author also examines the strategies Singapore uses to attract foreign direct investment, including creating a favorable investment climate, providing tax incentives, grants and subsidies to attract FDI, as well as grants and schemes to support innovation, research and development (R&D) and technology adoption. It analyzes priority industries that attract foreign investment, such as financial services, technology, biotechnology, logistics and tourism. The author uses several economic indicators, such as GDP, government spending, consumption, unemployment, inflation, to justify the impact of foreign direct investment on the economic level of the country. The regression analysis was performed and the results of the model show that foreign direct investment has a significant impact on the economic development of Singapore, contributing to the creation of a stable economic environment, the attraction of technological innovation and the acceleration of the country's social development. The level of private sector consumption also turned out to be significant, as well as the level of macroeconomic instability and government spending. The results of the study can serve as a basis for further research and strategic planning in the field of attracting foreign direct investment in Singapore. The article has implications for researchers, policy makers and the business community who are interested in understanding the role of foreign direct investment in the development of countries with high levels of economic development.

Kelangsungan Pendidikan Agama Islam di Negara Sekuler: Madrasah di Singapura

This paper explores how Islamic madrasahs changed the minds of their students by teaching both religious and academic subjects. This comes alongside examining how these schools created racial and religious cohesiveness outside the boundaries of traditional conservatism and extremism. This research is qualitative, meaning it uses a variety of methods to gather its findings. This paper examines the negative effects of Madrasas on economic development in Singapore. It looks at historical methods for gathering data and literature from its research. Some specific data analyzed and presented in the paper includes relevant literature and information gathered by these methods. Before 2001, the Singaporean government pushed to close traditional or conservative schools of religious learning. They considered traditional madrasas a source of religious and racial strife that impeded cohesion among the races and religions in their country. Islamic education in Singapore can be observed through three phases. The first is the colonial phase where a secular system was adopted. After the country was no longer colonized, a traditional system was implemented. Currently, the third phase has begun where an integrated curriculum is in use.

Cell scientist to watch – Lena Ho

ABSTRACT Lena Ho studied biochemistry at the University of Wisconsin–Madison, USA, funded by a scholarship from the Singapore Economic Development Board. Lena then joined the lab of Gerald Crabtree at Stanford University for her PhD, where she investigated the function and mechanism of chromatin remodelling proteins in the epigenetic regulation of embryonic, haematopoietic and cancer stem cells. She then moved back to Singapore for a postdoc in Bruno Reversade's lab at the Institute of Medical Biology, A*STAR, where she found that some non-coding RNAs can in fact encode short peptides, exemplified by her discovery of the peptide hormone ELABELA. In 2017, Lena became Assistant Professor at Duke–NUS Medical School and the Institute of Medical Biology, A*STAR, where her Endogenous Peptides lab currently focuses on secreted and mitochondria-localised peptides to uncover new paradigms in cell biology and improve cardiometabolic and immune health.

POLITICAL STABILITY AND ECONOMIC DEVELOPMENT OF THE STATE: EXAMPLE OF SINGAPORE

The article examines the impact of political stability on the economic development in Singapore. An attempt has been made to find an answer to the question of which regime determines economic growth: authoritarian or democratic. The study used descriptive, systematic and comparative methods, which allowed to analyze the impact of political stability on economic development of Singapore. The Singapore case should be viewed more as an exception to the rule than as an example of explaining the economic efficiency of authoritarian regimes. The study concludes that Singapore’s sustainable development cannot be explained by the influence of only one independent variable – political stability. Many other factors should be taken into account: cultural, historical, geographical, human. The economic success of this state was largely due to a consistent policy focused on achieving long-term results – economic growth and effective and rational planning, which became possible thanks to the political stability of the state.

The Changing Role of Education in Economic Development: An Analysis of the Role of the State in Singapore’s Education System

After Singapore’s independence in 1965, the country successfully transformed itself from a developing country to a knowledge-based economy. Singapore has since achieved outstanding economic and academic performances in the following five decades. This paper analyses the relationship between education and economic development in Singapore. It will also look at the role of education from 1965 (Independence) to 1989, and then 1990 onward as it aims to analyse how Singapore’s developmental state used education to promote economic development as the country develops.

Southeast Asia. Business, government and labor: Essays on economic development in Singapore and Southeast Asia By Linda Y.C. Lim Singapore: World Scientific Publishing. Pp. xx + 401.

Southeast Asia. Business, government and labor: Essays on economic development in Singapore and Southeast Asia By Linda Y.C. Lim Singapore: World Scientific Publishing. Pp. xx + 401. - Volume 52 Issue 3

Project-based maturity assessment model for smart transformation in Taiwanese enterprises.

As smart technology proliferates, enterprises must engage not only in the transformation of intelligence but contend with pressure do so as soon as possible. Smart transformation is critical for manufacturing enterprises in the development of smart manufacturing. This study addressed the gap between maturity models and project management by designing an effective assessment framework for smart transformation. It adopts the Smart Industry Readiness Index, created by the Singapore Economic Development Board, as a maturity assessment model to analyze enterprises’ smart transformation and formulate project management strategies. Enterprises can use this model to examine the maturity level of their transformation and assess scope for improvement in their project strategies and implementation barriers. This study focuses on Taiwanese enterprises using data collected from 165 valid questionnaires and subjected to a cluster analysis. Enterprises were divided into three categories. The results reveal that, first, most enterprises’ smart transformation is at an immature or medium-maturity level, and is therefore amenable to further improvement. Second, inconsistent with research findings, many enterprises invest in transformation projects but fail to advance these projects to maturity. Third, most enterprises’ project management plans fail to meet actual transformation needs. Using the thematically oriented maturity model proposed in this study, Taiwanese enterprises can effectively evaluate the maturity of their transformation projects. In conclusion, the study highlights that Taiwanese enterprises must identify more effective external resources to strengthen their competitiveness.

Carbohydrate Quality of a Middle-aged and Older Population in Singapore and Its Association with Cardiometabolic Health

Abstract Objectives Carbohydrate quality plays a key role in cardiometabolic health, though this has not been well investigated in Asian populations. This study aimed to assess the carbohydrate quality of middle-aged and older adults in Singapore, and its association with various cardiometabolic health-related markers. Methods A secondary data analysis of a cross-sectional study consisting of 104 adults (59 ± 6 years, mean ± SD) was conducted. Carbohydrate quality was evaluated by their adherence to: (i) Singapore recommended daily allowance (RDA) for dietary fiber intake, (ii) Singapore recommended daily whole grain intake, (iii) World Health Organization free sugars limit and (iv) the balanced carbohydrate metrics (BCM). The BCM was reflected by a ratio of at least 1g of fiber per 10g of carbohydrates (10:1, simple ratio), or variations including free sugars criteria. Food intake was collected using 3-day food record. Measurements of cardiometabolic health-related markers were body mass index, waist circumference, blood pressure, blood lipid-lipoprotein markers (total, low-density lipoprotein and high-density lipoprotein cholesterol and triglycerides) and glucose and 10-year risk to coronary heart disease. The association between dietary carbohydrate quality and cardiometabolic health-related markers, as well as associations amongst the 4 measures of carbohydrate quality were evaluated using Fisher's exact test. Results 36%, 20%, 87% and 34% of the population met the fiber RDA, whole grain recommendation, free sugars limit and BCM respectively. A significant association in adherence to each measure of carbohydrate quality was found across all 4 measures (P < 0.05), except for between the whole grain recommendation and free sugars limit. The simple ratio was associated with a lower systolic blood pressure (P = 0.04) while no association was observed with other cardiometabolic health-related markers. Conclusions Consuming a diet adhering to the simple ratio of at least 1g of fiber for every 10g of carbohydrates may improve blood pressure and subsequently lower cardiometabolic disease risk. Funding Sources National University of Singapore, Singapore Economic Development Board and Société des Produits Nestlé SA

Economic assessment of urban space and blue-green infrastructure in Singapore

Abstract The urban conglomeration has accentuated the role of urban greenery as a determinant factor for sustainable living, especially in highly dense cities. The country of Singapore has consistently attempted to develop and rehabilitate urban greenery by attempting to align the green space policy with the pursuit of better life quality. In this study, we assess the benefits arising from the rehabilitated Bishan-Ang Mo Kio (AMK) Park in north Singapore and the effects on economic welfare. The Bishan-AMK Park was initially constructed in the late 70 s as a drainage area for the avoidance of flooding incidents. In 2012, a pilot project was introduced to create a blue-green infrastructure (BGI) space for the provision of drainage and flood prevention but also for recreational and environmental improvement in the area. Yet, the benefits emerging from BGI are not well explored and still underestimated. To this extent, we evaluate selected services related to recreational, socio-cultural and tourism-related values by indicating the economic benefits from the introduction of BGI in condensed urban environments like Singapore. The findings indicate that the benefits deriving from the selected services could be within the range of US$100 million to US$220 million with a mean value of US$160 million per year by substantially contributing to human well-being. The assessment of environmental services can raise the awareness of residents and local authorities on the contribution of urban greenery to livelihoods and economic development in Singapore and similar densely populated areas.

Dynamic capabilities for smart manufacturing transformation by manufacturing enterprises

ABSTRACT This study develops a dynamic capability-based framework of maturity assessment through combinative capabilities towards smart manufacturing transformation. First, the relationship between existing maturity models and dynamics capability is investigated. The finding indicates that most maturity models cannot identify an organisation’s dynamic capability or examine this capability in a dynamic and competitive environment during the transition. On the basis of the literature and senior executives’ experiences, this study incorporates dynamics capability into the maturity model assessment developed by the Singapore Economic Development Board for empirical analysis and identification of the importance of key capabilities with influencing factors, which are included in a framework to fill the research gap. Primary data obtained from in-depth interviews are systemically examined to determine the industrial maturity level and dynamics capability driving the transformation. Drawing on this investigation, this paper proposes a conceptual framework for smart manufacturing transformation driven by dynamic capabilities that have positive effects on the transformation of manufacturing enterprises. Our main contribution is identification of the four key aspects of dynamic capability – process, technology, organisation, and transformation. Another contribution is that we provide dynamic capability-based guidance for enterprises to re-evaluate their strategies and strengthen the capabilities they require to face a changing environment.

The impact of labour quality on the country 's economic development in Singapore (Using Bloomberg L.P. information system data)

Russian education and state programs do not fully take into account the current and promising requirements of the modern labor market, taking into account its transformation in the conditions of increasing digitalization of processes. Setting priorities for education and public administration in the field of training and evaluation of highly qualified personnel for innovation economy based on the best world practices is an important task solved in this article.

Retail Sector in Singapore

The retail sector plays an important role in Singapore and it is one of the most significant factors of Singapore economic development. However, a series of problems were caused by the increasing number of overseas retail stores expanding into Singapore. In order to understand the actual survival status of the Singapore retail sector, this article will first discuss the related issues and explain how Singapore government work out on these issues. Second, is discussed how big data could affect the retail sector today in Singapore. In addition, a multiple regression analysis will be provided for testing and analyzing the relationship between Singapore retail sales and some particular economic indicators of Singapore.

Статистичне оцінювання результативності трансформацій (на прикладі Сінгапуру): інституційний підхід

Стаття присвячена актуальній темі статистичного оцінювання результативності трансформаційних зрушень на прикладі Сінгапуру. Використання регресійного аналізу впливу інституційних факторів на економічне зростання показало, що саме інституційне середовище має вагомий статистичний вплив на результативність трансформації національної економіки Сінгапуру. На прикладі статистичного оцінювання впливу інституційних факторів на економічне зростання в Сінгапурі підтверджено, що регресійне моделювання є прийнятим способом оцінювання результатів трансформаційних зрушень.

Fifty Years of Development in the Singapore Economy: An Introductory Review

The papers in this volume provide a retrospective analysis of Singapore's economic development during the past 50 years, from the perspectives of different policy domains. This introductory review highlights common themes among the papers, chiefly the primacy of economic growth in driving social as well as economic policies, the interconnection between different policy arenas, the persistence of a particular development model despite sharp changes in policy direction, and the dominant role of the state. The authors collectively conclude that economic policy was both innovative and effective in the first two to three decades of independence, particularly in simultaneously delivering on both rapid economic growth and improved social welfare. In more recent decades, economic growth and social welfare for a significant minority of residents have begun to diverge. Looking ahead, there appears to be a consensus that slower GDP growth, higher productivity, a relative shift from manufacturing to services and from a global to a regional market orientation, and more vibrant and innovative local private entrepreneurs, are necessary for continued economic development. There is also consensus that public policy must pay greater attention to directly meeting the growing social needs of the population, especially the poor, low-income, elderly and other vulnerable groups.

Development strategies of small economies: Singapore, Hong Kong and Macao

Purpose– The purpose of this paper is to examine the economic development in Singapore, Hong Kong and Macao to find the reasons for the success.Design/methodology/approach– Applying economic development theories and using archival data to examine the development strategies of the three economies.Findings– There is no single model suitable for economic development for all, and small economies need to be strategically interventionist by either inducing development or balancing the disequilibria caused by development.Originality/value– This is the first comparative study to examine these three fast-growing small economies. The findings lend insight into Hirschman’s theory of unbalanced growth and Stiglitz’s assertion that different economies and conditions require different development strategies.

BEYOND GENDER: THE IMPACT OF AGE, ETHNICITY, NATIONALITY AND ECONOMIC GROWTH ON WOMEN IN THE SINGAPORE ECONOMY

This paper examines trends in women's labor force participation, sectoral and occupational distribution, and wage incomes relative to men, including by age and education. Since 1980, gender disparities in virtually all categories have substantially narrowed; those remaining result from women's continued disproportionate responsibility for family care, and additional factors affecting women at the highest levels of the labor force and income distribution. There are some areas of concern for women's economic future in Singapore, including the impacts of ageing, foreign labor and immigration, and wage stagnation experienced by low-income families under Singapore's economic development model.

ChemInform Abstract: Mesoporous Niobium Oxide Spheres as an Effective Catalyst for the Transamidation of Primary Amides with Amines.

This work was supported by GlaxoSmithKline (GSK), Singapore Economic Development Board (EDB) under GSK-Singapore Partnership for Green and Sustainable Manufacture, and the Institute of Chemical and Engineering Sciences (ICES), Agency for Science, Technology and Research (A*STAR), Singapore. We thank Mr. Jeffery Ng (ICES) for carrying out the NH 3 -TPD analysis.

Black & Veatch's Design/Desalination Center Opens in Singapore

This article announces that the global consulting firm Black & Veatch has officially opened its Global Design Center for water and Center for Excellence for desalination in Singapore. As part of the facility's opening, the Singapore Economic Development Board presented Black & Veatch with its International Headquarters Award. For their part, Singapore's economic development officials are working to add to the growing talent pool within their country's water industry and to position Singapore strategically in the global water marketplace.