The economic development of Singapore

Abstract

This thesis gives a comprehensive account of how the Republic of Singapore has achieved its present status and of the formidable social and economic problems confronting its government and people during these days of world economic and monetary instability. An examination of economic literature on economic development and growth models for developing countries reveals that the answer to Singapore's development problems may well lie in industrialization, export promotion, tertiary sector expansion, fiscal measures, financing incentives and other promotional activities. These measures are described thoroughly and their effects are calculated. The increasing annual growth rates of Singapore's manufactured exports and the spreading diversification with regard to products and trading partners must be attributed, at least partly, to the strategy of economic development being currently pursued by its government.