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Economic Growth and Development in Singapore
Past and Future
In this book Gavin Peebles and Peter Wilson offer an historical overview of the rapid growth and development of the Singapore economy, detailing the institutions and policies which have made this growth possible. They examine the current state of the economy and its future in terms of prospective growth and structural change.
The authors discuss the conflicting views on the role of government and the public sector in the economy, and analyse the quality and sustainability of growth. They explore the structural changes which have occurred due to high rates of savings and investment, a large balance of payments surplus and monetary, financial and fiscal conditions. Important in this analysis is the extent to which Singaporeans themselves have benefited in terms of welfare. The authors also identify the key roles played by trade policy, and financial and exchange rate institutions in creating and sustaining growth. In the aftermath of the Asian financial crisis, they assess the current health of the economy and the implementation of reforms to achieve the government's vision of a `New Singapore'.
Based on the authors' own combined experiences of living in Singapore for over 20 years, this broadbased and analytical book sheds light on Singapore's status in the world economy. The integration of economic, social and political perspectives will ensure the book's broad appeal amongst scholars, students and researchers interested in growth and economic development in Singapore and South-east Asia.
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What Reviewers Are Saying
`Peebles and Wilson have written an excellent account of what is surely one of the twentieth century's most remarkable transformations. Anyone who wants an up-to-date, balanced and authoritative guide to the economy of modern Singapore is strongly advised to start with their book. Not the least of its virtues is a comprehensive bibliography and a good guide to further reading.' -- Anne Booth, EH. Net `. . . clearly written and well-organized. . . This volume is one of those rare academic works that would make pleasurable reading on a trans-Pacific flight. Highly Recommended. General readers, all levels of undergraduates, and professionals.' -- S.J. Gabriel, Choice `This is an extremely readable and comprehensive account of one of the most successful stories of economic development in the late 20th Century. In Economic Growth and Development in Singapore, Gavin Peebles and Peter Wilson examine various perspectives on the city-state's economic development, and combine theory and empirical detail with aplomb. Their new text is a very welcome addition to the development literature.' -- Christopher M. Dent, University of Leeds, UK