This monograph focuses on the structural weakness in the Singapore economy, in particular those which the author feels have been under-appreciated.

Thus, it pays special attention to the effect government intervention has had on the economy and finds that several unintended consequences of policy actions have accumulated over the years. Several of these have become serious constraints on Singapore’s ability to adjust effectively to the rising challenges in the global and regional environments.

With these aspects in mind, the monograph:

• analyses the nature of the challenges faced by the Singapore economy
• assesses where the structural weakness are, which inhibit effective adjustment to address them and seek out their root causes
• make recommendations as to specific policy changes which are necessary.

The monograph contends that Singapore will retain a sufficient critical mass of regional manufacturing and service activities to remain a dynamic growth centre in the Asia-Pacific region, and that the impact of increasing competition , especially from China and Malaysia, has been exaggerated.

It is estimated that the Singapore economy can – if the right policy and corporate sector changes are made – grow at about 5% per annum for the coming decade. This is a positive outlook given that Singapore has already achieved one of the highest per capita GNP levels in the world.

Bhaskaran, Manu. 2003. Re-inventing the Asian Model: The Case of Singapore. Singapore: Eastern Universities Pre.

(72 pages, ISBN 981 210 256 6)