Singapore presents an interesting case of how a country achieves dynamic economic development and innovation through the "invitation" strategy of a business hub. Despite being a small city-state with limited domestic market size and no meaningful hinterland or natural resources to speak of, Singapore has managed to transform its economy dramatically over the past 50 years by leveraging the strengths of other economies. Specifically, it has been able to attract (or "invite") various types of productive resources, including foreign capital, foreign technology and foreign workers (both skilled and unskilled) to make up for what it lacks. This has helped Singapore not only achieve sustained growth and development but also enhance its innovative capacity.
Singapore, business hubs, foreign investment, Asia, Special economic zones
Asian Studies | Growth and Development | Macroeconomics | Technology and Innovation
Promoting dynamic and innovative growth in Asia: The cases of special economic zones and business hubs
Hyung-Gong JEONG; Douglas Zhihua ZENG
Korea Institute for International Economic Policy
City or Country
TAN, Kim Song.
Invitation strategy for cutting edge industries through MNCs and global talents: The case of Singapore. (2016). Promoting dynamic and innovative growth in Asia: The cases of special economic zones and business hubs. 16-01, 151-207. Research Collection School Of Economics.
Available at: http://ink.library.smu.edu.sg/soe_research/1923
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