Tilak Lessons for others Aug2016 - The Singapore Economy...

Info icon This preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
The Singapore Economy Lessons for Other Developing Countries by Tilak Abeysinghe Department of Economics National University of Singapore Aug 2016
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Lifetime labor income of a Singapore resident household: 20 th income percentile
Image of page 2
Non-economic factors matter more than economic factors ¾ Political stability is needed for the economy to take-off and quality of governance to maintain the altitude. ¾ Political stability is an exogenous variable and quality of governance is an endogenous variable. ¾ Changing party-politics vs single-party rule in East and Southeast Asian countries. ¾ American economist Mancur Olson: roving bandit vs stationary bandit. ¾ Singapore, highest-paid ministers in the world.
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Political stability & quality of governance Political stability: Either a single-party rule for a sustained period or a common agreement on an economic agenda is needed to set the vision beyond a single (six-year) political term. Focus on the long-run, not on what is politically expedient. Quality of governance: Political stability does not necessarily guarantee quality of governance. Although the leadership matters, quality of governance emerges through the type of economic and political system in place. Private-sector driven open economy is one mechanism that acts as a disciplining force on govt bureaucracy.
Image of page 4
The Role of Openness “Economic Openness, Disciplined Government and Ethnic Peace”, Nava Ravi Kumaran and Tilak Abeysinghe.
Image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern