Publication Type

Book Chapter

Version

Publisher’s Version

Publication Date

11-2016

Abstract

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.

Keywords

Singapore, business hubs, foreign investment, Asia, Special economic zones

Discipline

Asian Studies | Growth and Development | Macroeconomics | Technology and Innovation

Research Areas

Macroeconomics

Publication

Promoting dynamic and innovative growth in Asia: The cases of special economic zones and business hubs

Volume

16-01

Editor

Hyung-Gong JEONG; Douglas Zhihua ZENG

First Page

151

Last Page

207

ISBN

9788932216690

Publisher

Korea Institute for International Economic Policy

City or Country

Korea

Creative Commons License

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

Additional URL

http://www.kiep.go.kr/eng/sub/view.do?bbsId=policyAnalyses&nttId=191699