Lessons of East Asia: Singapore. Public Policy and Economic Development

摘要

In the three decades following self-rule in 1959, Singapore has transformed itself from a resource-poor maritime center into a dynamic, industrialized economy. Real GDP growth averaged 8.2 percent from 1960 to 1990. Their industrial policy has had two main elements. First, the state has sought to create an environment conductive to the growth of private enterprise, among both indigenous and foreign investors. Second, it has intervened through the market to guide private sector develpment and has established 'government-linked corporations' (GLCs) where private investors have not responded to financial incentives. The state maintains an extensive direct involvement in the economy, through its statutory boards and GLCs. (Copyright (c) 1993 The International Bank for Reconstruction and Development/The World Bank.)