Singapore Economic Achievement: A Model for Rapid Growth

摘要

Since 1959 when Singapore achieved self-government and particularly 1965 when Singapore became an independent nation following separation from the Federation of Malaysia, Singapore has taken bold steps in implementing ambitious developement policies and has achieved remarkable economic growth and social stability. Its per capita gross national product has increased steadily by more than six times from a modest figure of $2190 (equivalent to US $1040) in 1968 to $13,794 (US $6,569) in 1983, the second highest in the East Asian region after Japan. Singapore did not have a stable beginning as an independent country. Beset by the many early difficulties such as expulsion from Malaysia, Indonesian confrontation, the British military withdrawal, rising unemployment, labour unrest, a housing shortage, and racial conflict, Singapore was able to overcome all these problems and at the same time raise the living standard of its population. It has successfully transformed its economy from that of an entrepot to a manufacturing-service economy. During this period Singapore consistently maintained good economic growth rates, full employment, high productivity, and low inflation.