Singapore's Success: Engineering Economic Growth

by Henri Ghesquiere

This monograph seeks the key to good economic policy by explaining Singapore’s remarkably rapid development-the world’s fastest-growing economy between 1960 and 2000-and asks whether the city-state’s success can be translated to other countries. Engineering prosperity is at the heart of Singapore. The book demonstrates how exceptional cohesion amongst economic outcomes, policies, institutions, values, and leadership over a long period account for the impressive results obtained. The author is careful not to present Singapore as a model to be copied uncritically in its specifics but as a case history that illustrates general principles which other countries might wish to apply to their particular circumstances.

Well-researched yet highly readable, Singapore’s Success: Engineering Economic Growth will appeal to Singaporeans and a wide international audience, including policy-makers and advisors, students of development economics, and anyone interested in the quest for sustained economic growth.

Genres: Economics, Nonfiction

217 pages, Kindle Edition

First published August 31, 2006

Reviews

[David · Rating 1 out of 5]

I think I could accurately summarize this book as so:

First chapter is extremely promising, compellingly summarizes the macro level motives of economic growth in Singapore since 1959.

From them on we have a couple of chapters which are essentially acritically reproducing LKY’s memories — not just the broad strokes, but also focusing on the exact same situations telling them in very similar ways, and even going into one or another anecdote from his tenure as Prime Minister.

The last two chapters are relentless praise of the PAP and its all knowing meritocratic elite which studiously kept power since 59 to today. The section on the PAPs incumbency advantage is particularly painful as it offers no criticism of practices any western-aligned reader would find abhorrent.

The simple writing and constant promise of something new just a page away kept me reading this unimaginative retreading of the usual narrative surrounding Singapore. Avoid making the same mistake.

[Marcellinus · Rating 3 out of 5]

Quite answering my recent questions why such a small country could overcome varying obstacles to prosper its citizens and achieve economic growth simultaneously. It took me a length of time to comprehend since I don't have any economic background. But overall, it's good (more than okay) in illustrating how the government and the citizen work together shaping a stable institution for a long-term goal.

[Jayant Shilanjan Mundhra · Rating 5 out of 5]

This is the first of four books I have read about Singapore over the past year. As a public policy enthusiast, this book has taught me so much that its tough to justify. I guess, what I have learnt from the book will reflect well in my future decision making as a future policymaker and problem solver. Also, this book was the one which left me fallen in deep admiration of Singapore's one true creator, Lee Kuan Yew.

All in all, it's a definite read, a must read for anyone and everyone.

[Kalid Mawi · Rating 5 out of 5]

A comprehensive and, at times, granular depiction of Singapore’s impressive economic achievements. The author deployed analytically fashioned facts and rationale with an admirably rigorous account of the country’s performance, a testimony to his intellectual abilities as a former IMF economist. All of my questions have been answered - very happy to have this piece in possession.

[Cheyanne Lee · Rating 3 out of 5]

Had mixed feelings about the usefulness of the book. It would probably sound much more convincing and useful to a developmental economist, but overall it did not feel as coherent as I would liked it to have been. For those who are not well-versed in the area of economics or policy-making it may be better to start by reading the concluding paragraphs in each section, before return back to the start of the section.

Overall, it does a decent job of describing why Singapore did as well as she did. The lack of detail is deliberate though it does make the book sound like a collection of sweeping statements.

[Sebastian · Rating 3 out of 5]

Good book for policy makers in developing countries who are looking for examples on how to improve their economies. Politicians in Singapore are very pragmatic.