O'Reilly logo

Invisible Gold in Asia by David Llewelyn

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

SINGAPORE

The explanation for Singapore’s startling growth between its independence from Malaysia in 1965 and the late 1990s is simple, according to Stanford professor John McMillan: “The rapid growth in Singapore … is sometimes described as a miracle, but it actually has a straightforward explanation. Singapore simply mobilised its resources. The primary source of growth was massive investment in physical capital. Singaporeans saved and invested as much as 40 per cent of their income. A further source of growth was investment in people. In 1966 more than half the workforce had no formal education; by 1990 two-thirds had completed secondary education. Singapore’s growth, far from a miracle, was based on cumulative investment.”

At ground level, ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required