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Utilizing Fdi To Stay Ahead: The Case Of Singapore, Penelope B. Prime

International Business Faculty Publications

A country of five million people in 710 square kilometers, Singapore has built itself into an integral part of global markets with living standards that are among the highest in the world. The purpose of this article is to apply a capabilities-based approach to understand how a small, resource-scarce country dependent on global markets has done so well. The core of Singapore’s success has been the continuous updating and expanding of domestic social capabilities to meet the needs of foreign companies. Government policies were hyper-sensitive to providing conditions for foreign firms to be successful. Foreign firms investing in Singapore by …