‭Growth and Development‬

‭Group Project Proposal‬

‭Country: Singapore‬

‭TEAM: TruthSeekers‬
‭T. Sai Venu Gopal - 2020101067‬
‭Vamsi Krishna Boyina - 2020101071‬
‭Polakampalli Sai Namrath - 2020101063‬

‭1. The question you want to answer.‬

‭ hoose any country other than India. Compare the growth experience of this country in‬
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‭the last 50 years with its development indicators (social, political, environmental as well‬
‭as economic other than growth). Based on your analysis, comment if growth has‬
‭translated to development for this country.‬

‭ hat factors and stages contributed to Singapore's transformation from poverty to a‬

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‭developed nation over the past 50 years?‬

‭2. The country you want to work in (other than India):‬‭Singapore‬

‭ . The structure of your final report, including a brief description‬

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‭of each section.‬
‭ e want to address the growth and development of Singapore in different stages of‬
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‭development of the country by analyzing different performance, social, political,‬
‭environmental as well as economic metrics. And the structure of the final report is as‬
‭follows in each respective stage,‬

‭Stage 1: Foundation of Independence (1965-1970)‬

‭ ackground‬‭: Singapore's tumultuous journey post-independence‬

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‭Challenges faced‬‭: Economic instability, lack of natural resources, high unemployment‬
‭Strategies implemented:‬‭Import substitution industrialization, investment in education‬
‭and infrastructure‬
‭ esults achieved‬‭: Initial steps towards economic stabilization, laying the groundwork for‬
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‭future development‬

‭Stage 2: Industrialization and Export-led Growth (1970s-1980s)‬

‭ doption of free market principles‬‭: Attraction of foreign investments, establishment of‬

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‭export-oriented industries‬
‭Development of key sectors‬‭: Manufacturing, electronics, petrochemicals‬
‭Government intervention‬‭: Promotion of entrepreneurship, investment in technology and‬
‭innovation‬
‭Emergence of Singapore as a global trading hub‬‭: Growth of port facilities, expansion‬
‭of transportation networks‬
‭Impact on economy‬‭: Rapid economic growth, rise in per capita income, reduction in‬
‭unemployment‬
‭Stage 3: Diversification and Economic Restructuring (1990s-2000s)‬

‭ esponse to external challenges‬‭: Asian Financial Crisis, SARS epidemic‬

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‭Shift towards knowledge-based economy‬‭: Emphasis on research and development,‬
‭promotion of high-tech industries‬
‭Enhancement of human capital‬‭: Focus on education, skills training, and talent retention‬
‭Government policies‬‭: Promotion of mergers and acquisitions, support for small and‬
‭medium enterprises (SMEs)‬
‭Sustainable development initiatives‬‭: Environmental conservation, urban planning, and‬
‭green technology adoption‬

‭Stage 4: Social Welfare and Inclusive Growth (2010s-present)‬

‭ ddressing income inequality‬‭: Implementation of progressive tax policies, introduction‬

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‭of social assistance programs‬
‭Enhancement of social infrastructure‬‭: Expansion of public housing, healthcare, and‬
‭education‬
‭Embrace of socialist principles:‬‭Strengthening of public healthcare and housing systems‬
‭Promotion of social cohesion‬‭: Integration of diverse communities, emphasis on racial‬
‭harmony and multiculturalism‬
‭Sustainable development goals‬‭: Commitment to environmental sustainability,‬
‭investment in renewable energy and clean technology‬
‭ . Links to eJournals, Articles, books and Research papers that‬
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‭we are going to use‬‭:‬
‭●‬ T ‭ he Singapore Growth Model:‬
‭https://managementstudyguide.com/singapore-growth-model.htm‬
‭●‬ ‭What is the Singapore model of economic development?:‬
‭https://academic.oup.com/cje/article-abstract/19/6/735/1688941?redirectedFrom=f‬
‭ulltex‬
‭●‬ ‭The Singaporean Development Model:‬
‭https://www.sen-foundation.org/wp-content/uploads/Publications/Other/Maertens-‬
‭Victor-The-Singaporean-Development-Model-2014.08.26.pdf‬
‭●‬ ‭The Role of the State in Shaping Development: Two Decades of Growth in‬
‭Singapore:‬‭https://www.jstor.org/stable/622183‬
‭●‬ ‭Patterns in the Economic Development of Singapore:‬
‭https://www.jstor.org/stable/4191564‬
‭●‬ ‭Economic Growth and Development in Singapore:‬
‭https://ideas.repec.org/b/elg/eebook/2468.html‬
‭●‬ ‭Singapore’s Development Strategy:‬
‭https://www.elibrary.imf.org/display/book/9781557754639/ch003.xml‬
‭●‬ ‭OECD paper:‬‭https://www.oecd.org/countries/singapore/46581101.pdf‬
‭●‬ ‭Statistics:‬‭https://www.singstat.gov.sg/find-data/search-by-theme/economy/national‬
‭-accounts/visualising-data‬
‭●‬ ‭Performance metrics and Visualisation from IMF:‬
‭https://www.imf.org/external/datamapper/profile/SGP‬