From Entrepot to NIC: Economic and Structural Policy Aspects of Singapore's Development

Author

Jochen WIRTZ, National University of Singapore
Thomas MENKHOFF, Singapore Management UniversityFollow

Publication Type

Journal Article

Version

publishedVersion

Publication Date

1-1998

Abstract

This paper describes the development of Singapore from an entrepot to an industrialized economy and analyzes the role of its structural and industrial policies as one important factor in this success story. The advance of Singapore to an industrialized economy can be structured into four phases. Phase I, the early phase from 1959 to the mid-1960s is characterized by an import substitution policy followed together with Malaysia. Phase II describes the enhanced export-orientation and industrialization from 1967 to 1973. Phase III includes the industrial restructuring from 1973 to 1984. Phase IV describes the development towards diversification of the industrial base as well as an increased orientation towards industries with high value-added. The role of Singapore's structural and industrial policies in each of the four phases is examined.

Discipline

Asian Studies | Growth and Development | Industrial Organization | Organizational Behavior and Theory

Research Areas

Organisational Behaviour and Human Resources

Publication

Sasin Journal of Management

Volume

4

Issue

1

First Page

112

Last Page

123

ISSN

0859-2659

Publisher

Chulalongkorn University

Citation

WIRTZ, Jochen and MENKHOFF, Thomas. From Entrepot to NIC: Economic and Structural Policy Aspects of Singapore's Development. (1998). Sasin Journal of Management. 4, (1), 112-123.
Available at: https://ink.library.smu.edu.sg/lkcsb_research/1348

Copyright Owner and License

Publisher

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.