Singapore's economy faces some major concerns resulting from intensified regional competition and the transformation from being investment-driven to innovation-driven. This paper examines (1) the accumulation and utilization of huge government surpluses in the past 40 years; (2) the country's...

This paper develops a new competitiveness index that ranks the ASEAN-10 economies on various dimensions measuring competitiveness. Our notion of competitiveness is substantially more nuanced and holistic than that of the more traditional and popular competitiveness indices in the literature. The...

This paper assesses selected fiscal and competitiveness issues in the newly industrialised economies (NIEs) of Hong Kong, Singapore, (South) Korea and Taiwan since the Asian financial crisis. The NIEs have been globally competitive and successful in maintaining a high degree of fiscal discipline...

How the old saying “when the United States sneezes, the world catches a cold†holds true has been the subject of many research papers on global and country group business cycle synchronization and divergence. Instead of business cycle linkages, however, this paper examines the...

There is a large literature dealing with the spillover effects of foreign direct investment (FDI) flows to emerging and developing economies at the aggregate level. Beyond the aggregate impacts, a growing number of studies also examine the impact of FDI spillovers on firms of different sizes,...

While Singapore has been doing well in terms of cross-country per capita income comparisons and in terms of overall employment growth, it has been a laggard when it comes to labor productivity and this concern is more serious for small and medium enterprises (SMEs). In this context, this paper...