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From Entrepot To Nic: Economic And Structural Policy Aspects Of Singapore's Development, Jochen Wirtz, Thomas Menkhoff
From Entrepot To Nic: Economic And Structural Policy Aspects Of Singapore's Development, Jochen Wirtz, Thomas Menkhoff
Research Collection Lee Kong Chian School Of Business
This paper describes the development of Singapore from an entrepot to an industrialized economy and analyzes the role of its structural and industrial policies as one important factor in this success story. The advance of Singapore to an industrialized economy can be structured into four phases. Phase I, the early phase from 1959 to the mid-1960s is characterized by an import substitution policy followed together with Malaysia. Phase II describes the enhanced export-orientation and industrialization from 1967 to 1973. Phase III includes the industrial restructuring from 1973 to 1984. Phase IV describes the development towards diversification of the industrial base …