From Efficiency-driven to Innovation-driven Economic Growth: Perspectives from Singapore
AbstractThe Singapore economy is going through a period of major restructuring. Economic stagnation since the 1997 Asia financial crisis (except for a brief recovery in 1999) has called into question the continued relevance of many fundamental policies that had worked well in the past. In 2002, a high-level Economic Review Committee (ERC) was convened by the government to chart new directions for the economy. A common thread that ran through the committee’s various reports was a call to enhance the economy’s innovative capacity, with the aim of making Singapore an innovation hub in the region.2 The call reflects an increased awareness both within and outside the government of the need to redefine Singapore’s comparative advantage through a new national innovation policy.
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Bibliographic InfoPaper provided by Singapore Management University, School of Economics in its series Working Papers with number 15-2004.
Length: 62 pages
Date of creation: Apr 2004
Date of revision:
Publication status: Published in SMU Economics and Statistics Working Paper Series
Other versions of this item:
- Kim-Song Tan & Sock-Yong Phang, 2005. "From efficiency-driven to innovation-driven economic growth : perspectives from Singapore," Policy Research Working Paper Series 3569, The World Bank.
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- Boon Lee & William Shepherd, 2006. "Output and Productivity Performance of Hong Kong and Singapore’s Transport and Communications Sector, 1990 to 2005," School of Economics and Finance Discussion Papers and Working Papers Series 208, School of Economics and Finance, Queensland University of Technology.
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