Organizer: Thomas Bellows, University of Texas, San Antonio
Chair and Discussant: J. Norman Parmer, Ohio State University
One of the most economically successful countries in the geoeconomic world order is Singapore. Singapore has balanced a commitment to a global market economy with a considerable amount of statist intervention in the economic, social and political systems. This panel analyzes some of the more successful policies and institutions and also considers present and future policy concerns and responses.
Thomas J. Bellows, University of Texas, San Antonio
The Singapore government follows the rational choice approach to public policy. Rational choice assumes problems will be accurately defined by a leadership united on national objectives and who generally agree on the nature of the most pressing issues. Relevant problems are identified and the consequences of non-action and potential government responses are calculated.
The paper will discuss the three most important policy issues in contemporary Singapore: (1) regionalism; (2) globalization; and (3) what do the new, younger voters want politically. Economic adaptation and maintaining popular support have become more difficult as the Singapore electorate grows more assertive and demanding.
Boon Hiok Lee, National University of Singapore
This paper analyses the role of trade unions in Singapore within the context of the country's growth and development. It examines the union's relationship with the government and employers' associations together with their participation on a number of policy and economic issues.
John R. Lombard, State of Connecticut
In the past thirty years Singapore has evolved from an entrepot trading port to a producer of sophisticated goods and services. The argument commonly put forth is that the economic transition of Singapore is the result of its strategic location, a restructuring of the world economy, and a judicious government policy that encourages foreign direct investment.
While it is generally acknowledged that foreign direct investment in manufacturing has played a large, if not central, role in the economic growth and development of Singapore, many studies have overlooked the contribution of foreign direct investment in services. However, in 1986 the government of Singapore recognized the service sector as one of the key areas for potential future economic growth, and established a services promotion division within the Economic Development Board with the specific task of identifying and promoting new service investment. This paper examines the foreign component of service activity and evaluates the impact that this activity is having upon the growth and development of Singapore.
Michael Sherraden, Washington University, St. Louis
Unlike welfare states in the West, which emphasize income for consumption, Singapore has built its social policy on savings and investment. Organized in a system called the Central Provident Fund (CPF), assets accumulate in individual accounts from mandatory employer and employee contributions. Since its inception in 1955, CPF has evolved from a simple retirement scheme into a comprehensive social domestic policy system used for home ownership, direct medical care costs, life and medical insurances, education, and other purposes. No other country has such an extensive social policy system based on asset accumulation.
Seong Chee Tham, National University of Singapore
This paper will attempt to identify the values given prominence in national development and, following that, to examine the reasons, both implicit and argued for their choice. Broadly, two issues will be examined: one, the imperatives of economic survival and how they impinge on value-consciousness and two, the existential ideals sought and their impact on value development in multi-ethnic, multi-cultural Singapore. In discussing these issues, attempts will be made to relate them to key development initiatives over the last two and a half decades.
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