This paper attempts to test whether there is econometric evidence in support of the efficiency wage theory in Singapore's manufacturing sector. Two of the possible ways to account for efficiency wages are to show that higher wages have resulted in reduced shirking by workers, and to show that...

Dr Goh Keng Swee has been credited as being the social and economic architect of Singapore. In his 25 years of government service, he served in a wide range of ministerial appointments, including Deputy Prime Minister, Minister of Finance, Minister of Defence and Minister of Education. This...