Singapore’s Economic Development in the Light of Modern Development Concepts

Abstract

The chapter considers the application of modern concepts of development as in competitive advantage, value chain, cluster analysis and agglomeration economies, applied assiduously to foster growth in the Singapore’s economy. Economic development in the Singapore’s economy is divided into different phases. The roles and usage of the new concepts in charting plans and policies that transform a former British colony and trading post into a modern industrialized economy with world class infrastructure and sophisticated enterprises are discussed in profiling the different phases of development.