From third world to first world: Lee Kuan Yew and the singapore transformation growth story
Journal Title: Вісник Дніпропетровського університету.Світове господарство і міжнародні економічні відносини - Year 2016, Vol 24, Issue 8
Abstract
Singapore has just celebrated its Golden Jubilee on 9th August last year. It has come a long way from its poor, under- resourced and under-developed past since its independence 50 years ago. Against overwhelming challenges and difficulties, Singapore has successfully reformed and transformed itself into a developed and advanced economy. Through bold and innovative policies and initiatives, Singapore has seen its economy being transformed from its low skill, low tech and low pay model into a high skill, high tech and high pay model of economic growth. Singapore is the poster child for Globalisation. It is among the first nations in the world to adopt many of the successful policies which help it to win in this relentless and merciless race called Globalisation [7, 16]. Although Singapore has experienced rapid economic growth, social stability and racial harmony due to its far sighted policies, there have nevertheless been some policy dilemmas and failures too. In this paper, I shall attempt to make a critical analysis of the policy successes and failures of Singapore.
Authors and Affiliations
Y. L. Gary Lit Gary Lit
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