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What Is the Singapore Model of Economic Development?

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  • Huff, W G

Abstract

This article elaborates the concept of a Singapore model of economic development which depended externally on services as much as manufactured exports. Extensive government intervention and planning, though not a rigid central plan, were essential to the successful expansion of both. Singapore's experience illustrates an approach to economic planning which admits possibilities other than just 'the market' or 'the plan', and shows that this is not a polarised debate. Analysis of the Singapore model points to a structuralist approach and leads away from a current neoclassical ascendancy in development economics, founded 'empirically' in part on the Republic's success as one of the four East Asian dragons. (c) 1995 Academic Press Limited Copyright 1995 by Oxford University Press.

Suggested Citation

  • Huff, W G, 1995. "What Is the Singapore Model of Economic Development?," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 19(6), pages 735-759, December.
    • Handle: RePEc:oup:cambje:v:19:y:1995:i:6:p:735-59
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    Cited by:

    1. Lohmann, Guilherme & Albers, Sascha & Koch, Benjamin & Pavlovich, Kathryn, 2009. "From hub to tourist destination – An explorative study of Singapore and Dubai's aviation-based transformation," Journal of Air Transport Management, Elsevier, vol. 15(5), pages 205-211.
    2. Paul Burkett & Martin Hart-Landsberg, 2000. "Alternative Perspectives on Late Industrialization in East Asia: A Critical Survey," Review of Radical Political Economics, Union for Radical Political Economics, vol. 32(2), pages 222-264, June.
    3. Stephanie Seguino & Caren Grown, 2006. "Gender equity and globalization: macroeconomic policy for developing countries," Journal of International Development, John Wiley & Sons, Ltd., vol. 18(8), pages 1081-1104.
    4. Peter WILSON, 2000. "The Dilemma Of A More Advanced Developing Country: Conflicting Views On The Development Strategy Of Singapore," The Developing Economies, Institute of Developing Economies, vol. 38(1), pages 105-134, March.
    5. Paiva-Silva, João, 2022. "Understanding the Singaporean approach to state ownership: ‘commercially viable strategic alignment’ in historical perspective," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 43-58.
    6. Agosin, Manuel & Retamal, Yerko, 2021. "A model of diversification and growth in open developing economies," Structural Change and Economic Dynamics, Elsevier, vol. 58(C), pages 455-470.
    7. Hal Hill, 2013. "Is there a Southeast Asian Development Model?," Departmental Working Papers 2013-19, The Australian National University, Arndt-Corden Department of Economics.
    8. David Jones, 1997. "Asian Values and the Constitutional Order of Contemporary Singapore," Constitutional Political Economy, Springer, vol. 8(4), pages 283-300, December.
    9. Yasser Al-Saleh, 2018. "Crystallising the Dubai model of cluster-based development," Place Branding and Public Diplomacy, Palgrave Macmillan, vol. 14(4), pages 305-317, November.
    10. Jacques Sapir, 2022. "Is Economic Planning Our Future?," Studies on Russian Economic Development, Springer, vol. 33(6), pages 583-597, December.
    11. Haarhaus, Tim & Strunk, Guido & Liening, Andreas, 2020. "Assessing the complex dynamics of entrepreneurial ecosystems: A nonstationary approach," Journal of Business Venturing Insights, Elsevier, vol. 14(C).
    12. Sorin-George TOMA & Catalin GRADINARU, 2017. "Sustainable Growth: The Case Of Singapore," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 2(2), pages 105-111.
    13. Sanika Sulochani Ramanayake & Chandana Shrinath Wijetunga, 2017. "Rethinking the Development of Post-War Sri Lanka Based on the Singapore Model," Working Papers id:11902, eSocialSciences.
    14. Matthew McCartney, 2016. "Costs, Capabilities, Conflict and Cash: The Problem of Technology and Sustainable Economic Growth in Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 21(Special E), pages 65-98, September.
    15. Augustin Kwasi Fosu & Dede Woade Gafa, 2020. "Development Strategies for the Vulnerable Small Island Developing States (SIDS)," Working Papers 202073, University of Pretoria, Department of Economics.
    16. Patrick Guillaumont & Catherine Korachais & Julie Subervie, 2008. "Growth Oriented Macroeconomic Policies for Small Islands Economies: Lessons from Singapore," WIDER Working Paper Series RP2008-47, World Institute for Development Economic Research (UNU-WIDER).
    17. Stephanie Seguino & Caren A. Grown, 2006. "Feminist-Kaleckian Macroeconomic Policy for Developing Countries," Economics Working Paper Archive wp_446, Levy Economics Institute.
    18. David Kwasi Mensah, 2021. "Leadership and Economic Development of Ghana," Journal of Social Science Studies, Macrothink Institute, vol. 8(1), pages 24-46, June.
    19. Peter Wilson & Gavin Peebles, 2005. "Don’t Frighten the Horses – the Political Economy of Singapore’s Foreign Exchange Rate Regime since 1981," Development Economics Working Papers 22583, East Asian Bureau of Economic Research.
    20. Booth, Anne, 1999. "Initial Conditions and Miraculous Growth: Why is South East Asia Different From Taiwan and South Korea?," World Development, Elsevier, vol. 27(2), pages 301-321, February.

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