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Governance and Sustainable Economic Growth in Malaysia and Singapore: A Conceptual Analysis

Author

Listed:
  • Noormahayu Mohd Nasir

    (Faculty of Business and Management, Universiti Teknologi MARA Perak Branch Malaysia)

  • Abdul Rahim Ridzuan

    (Faculty of Business and Management, Universiti Teknologi MARA Perak Branch Malaysia)

  • Zarul Azhar Nasir

    (Faculty of Business and Management, Universiti Teknologi MARA Perak Branch Malaysia)

  • Siti Nur’amalina Syeddin

    (Faculty of Business and Management, Universiti Teknologi MARA Perak Branch Malaysia)

  • Nor Zarina Mohd Salim

    (Faculty of Business and Management, Universiti Teknologi MARA Perak Branch Malaysia)

  • Hafini Suhana Ithnin

    (Faculty of Business and Management, Universiti Teknologi MARA Perak Branch Malaysia)

Abstract

This conceptual study presents a framework that positions governance as the utmost influential determinant of economic growth in Malaysia and Singapore. While other factors namely foreign direct investment (FDI), domestic investment, trade openness, labour force, human capital, and life expectancy at birth are recognized as crucial drivers, this research argues that their effectiveness is fundamentally depends on the strength and quality of country’s governance. The significant difference in the economic paths of Malaysia and Singapore, despite their shared history and regional proximity, can be primarily attributed to variations in their governance models. This analysis will discover the nature of governance together with economic and social variables, concluding in a proposed framework for understanding and encouraging sustainable economic growth.

Suggested Citation

  • Noormahayu Mohd Nasir & Abdul Rahim Ridzuan & Zarul Azhar Nasir & Siti Nur’amalina Syeddin & Nor Zarina Mohd Salim & Hafini Suhana Ithnin, 2025. "Governance and Sustainable Economic Growth in Malaysia and Singapore: A Conceptual Analysis," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(9), pages 5304-5311, September.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-9:p:5304-5311
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    References listed on IDEAS

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