Economic development and social growth in Singapore: a case study (1968-1986)

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This thesis is on Singapore's economic development and social change, from 1968 to 1986. The focus is on the multinational corporations' investments as the engine of economic development and its possible detrimental effect on income inequality. The former is an argument usually emphasized by neo-classical economists, while the latter is a frequent focus for dependency theorists. Analyzing time series data, the results indicate, to a certain degree, the prominence of multinational corporation investment and education as contributing factors to the economic development of Singapore. In addition, contrary to the dependency perspective, it is found that there is no apparent trade-off between growth in the Gross Domestic Product (GDP) and income inequality, as represented by the Gini coefficient. In other words, both GDP and income inequality have improved. However, a continuing increase in multinational corporation investment is required for Singapore's income inequality to stabilize or improve. All these findings must be taken in context, where the Singapore government plays a positive role in attracting foreign investments, and in mobilizing the population towards developmental objectives.
Bibliography: p. 128-137.
Tan, W. C. (1988). Economic development and social growth in Singapore: a case study (1968-1986) (Master's thesis, University of Calgary, Calgary, Canada). Retrieved from doi:10.11575/PRISM/18316