SMU Professor of Economics Hoon Hian Teck gave his take on the impact of the Budget announced last Friday and wrote that the 2012 Budget, in essence, recognises that Singapore is now making a transition from a phase of catch-up growth to being a mature economy. In this mature phase, Singapore needs new sources of growth, and policy interventions are necessary to boost the employability and wage earnings of low-wage and older workers. Professor Hoon is also Associate Dean at the SMU School of Economics.
Singapore Press Holdings
HOON, Hian Teck.
Beyond Catch-Up to New Growth Sources. (2012). Straits Times. Research Collection School Of Economics.
Available at: http://ink.library.smu.edu.sg/soe_research/1461
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