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Even after achieving the status of a developed economy, many economies face other challenges which may include economic stagnation and income inequality. The book looks at how a mature economy can continue to weather challenges and how the growth of living standards will depend on productivity growth through Singapore's experience. After Singapore's rapid economic transformation, the nation is at a crossroads. The book explains how productivity growth in turn depends on technological diffusion from abroad as well as indigenous innovation. It also examines how the design of policy to develop indigenous innovation to promote economic dynamism may come with creative destruction and disruptive effects on jobs and wages. The Singapore Economy provides insight into how we can maintain social cohesion and establish a political equilibrium that embraces the new sources of growth through policy formulation for economic inclusion.

This book provides a fresh perspective on the debate over the role of the state in East Asia's development history. Comparing the post-war development policies of Singapore and Hong Kong, it argues that their strong economic performances preceded and persisted despite, not because of, developmental state policies. While both nations are not pure free markets, the Hong Kong economy comes closer to that ideal and exhibited clear advantages over state-driven Singapore, in terms of greater levels of indigenous entrepreneurship, productivity and innovation. The book highlights the complex ways in which states penetrate markets, which are often neglected in liberal accounts of Hong Kong and Singapore as 'free-market success stories'. At the same time, it also stands as a cautionary tale on the use of non-comprehensive development planning in the twenty-first century, where an unprecedented degree of complexity complicates economic policy and industrial upgrading. The book renews the case for economic liberalism in development policy through a unique Asian cultural lens.

Singapore's rapid ascent from Third World to First since its independence in 1965 has won it acclaim as an 'economic miracle'. Economic success has been accompanied by impressive achievements in social development, as reflected in international rankings of human capital and human development.The city state's achievements are founded on a socio-economic system characterised by low tax rates, flexible labour markets, and individual 'self-reliance', with state support centred on social investment in education and public housing.Entering the 21st century, however, slowing economic growth, an ageing population, global competition, and widening income dispersion have put the Singapore System under strain. This has prompted a significant refresh of social and economic policies over the past 15-20 years.This book aims to bring the reader up to date on Singapore's socio-economic development in the first two decades of the 21st century. It looks back to the shifts in policy thinking that have accompanied structural changes to Singapore's society and economy, taking stock of the policy innovations aimed at sustaining income growth, economic security, and social mobility. It looks around to compare Singapore's approach to those of other countries facing similar challenges, situating Singapore's experience in the wider international discourse on public policy. Finally, it looks ahead to how the Singapore System may evolve in the years to come.

Ethnic and religious differences, a widening socio-economic divide, tension between foreigners and locals. These are some of the contemporary challenges to integration in Singapore. How we navigate them will determine the type of society we become. This book gathers the best social scientists in Singapore to examine issues of ethnicity, religion, class, and culture in order to understand the many different fault lines that run across the multicultural city-state.

Investigates the Singapore Government's approach to the construction of national identity and the shifting ways in which Singapore has been imagined in official discourses.

Shows that, although Singapore is a multi-ethnic society, migration and the changing ethnic mix are causing increasing strains, putting new demands on housing, education and social welfare, and changing the make-up of the workforce, where the government is responding with policies designed to attract the right sort of talent.