The New Economy and Skills Development in Australia and Singapore

摘要

Australia and Singapore have both experienced remarkable recent economic success although they are quite different economies. The New Economy has imposed significant structural and technological change on both economies and this paper explores the impact on the demand for skills using a variety of data sources. The results for Australia are consistent with New Economy developments in terms of the demand for skills and the rewards for those skills. The results are less convincing for Singapore, however, where the returns to skills have remained largely unchanged despite significant changes in demand.