Singapore has gone through a rapid transformation during the half a century, from an entrepot, predominant towards shipping transit in the mid-1960s, into an economy, which presently specialises in high-value manufacturing activities and financial services. This chapter aims to examine the issues of the developmental role of state and foreign companies and to analyse their role in achieving a rapid economic growth in the country. The study emphasises that historical, strategic and domestic factors are important determinants in Singapore’s struggle towards modernisation and steady economic growth. This research uses the secondary information methodology to examine policies and mechanism to understand Singapore’s government policies. The study finds that the favourable international environment, MNCs and the role of state, especially vision and commitment towards economic diversification, contributed to achieve rapid economic development.
|Title of host publication||Chinese Global Production Networks in ASEAN|
|Place of Publication||Cham|
|Publisher||Springer International Publishing AG|
|Number of pages||32|
|Publication status||Published - Jan 2016|
|Publisher||Springer International Publishing|
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- Department of Accounting, Finance, Logistics and Economics - Senior Lecturer in Economics
- School of Business, Education and Law
- Northern Productivity Hub - Member