Even after achieving the status of a developed economy, many economies face other challenges which may include economic stagnation and income inequality. The book looks at how a mature economy can continue to weather challenges and how the growth of living standards will depend on productivity growth through Singapore’s experience.
After Singapore's rapid economic transformation, the nation is at a crossroads. The book explains how productivity growth in turn depends on technological diffusion from abroad as well as indigenous innovation. It also examines how the design of policy to develop indigenous innovation to promote economic dynamism may come with creative destruction and disruptive effects on jobs and wages.
The Singapore Economy provides insight into how we can maintain social cohesion and establish a political equilibrium that embraces the new sources of growth through policy formulation for economic inclusion.
Introduction, Hian Teck Hoon 1. Entrepreneurship in Singapore, Jungho Lee 2. Financing Singapore’s SMEs and the crowdfunding industry in Singapore, Swee Liang Tan, Yoke Wang Tok, and Thitipat Chansriniyom 3. Singapore in the global value chains, Pao-Li Chang and Phuong T. B. Nguyen 4. Singapore’s urban form and its implications on transport and city development: A cross-city perspective, Nicholas Chiang Wei Siong, Wen-Tai Hsu, and Marilyn Song Yiling 5. Singapore as a sustainable city: Past, present and the future, Tomoki Fujii and Rohan Ray 6. Achieving price stability, Hwee Kwan Chow and Taojun Xie 7. Social insurance, Hian Teck Hoon 8. Challenges to social mobility in Singapore: Facilitating social mobility, Kong Weng Ho and Marcus Tan Kheng Tat 9. Providing childcare, Christine Ho and Sunha Myong 10. Retirement preparedness in Singapore, Junxing Chay and Seonghoon Kim Epilogue, Hian Teck Hoon
Biography
Hian Teck Hoon is professor at the School of Economics at Singapore Management University, Singapore.
"In The Singapore Economy: Dynamism and Inclusion, Hian Teck Hoon and other authors pull together important lessons from economics on what makes an economy work. The book’s chapters draw on themes ranging from entrepreneurship to social insurance to mobility to sustainability. Any serious student of public policy in Singapore or in applications of that country’s successes should read it."Glenn Hubbard, Dean Emeritus and Russell L. Carson Professor of Finance and Economics, Columbia Business School, and former Chairman of the U.S. Council of Economic Advisers
