Building Human Capital : Lessons from Country Experiences – Singapore
Singapore has demonstrated that investing in human capital can have a high payoff and that nothing is impossible. Its example should inspire others to redouble their own efforts, not to replicate the model in its entirety necessarily but to take fu...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/960921595409441570/Building-Human-Capital-Lessons-from-Country-Experiences-Singapore http://hdl.handle.net/10986/34206 |
| Summary: | Singapore has demonstrated that
investing in human capital can have a high payoff and that
nothing is impossible. Its example should inspire others to
redouble their own efforts, not to replicate the model in
its entirety necessarily but to take full advantage of the
various lessons that can be learned from the arc of its
successful development strategy. Many elements of the Singapore model are today considered conventional wisdom. While many
developing countries have attempted to pursue similar
strategies, few have fully succeeded in achieving similar
results. This case study examines the policies, programs and
processes Singapore has pursued from 1960 to the present to
pull ahead of other economies. It identifies several factors
that have undergirded Singapore’s successful implementation
of education and health strategies. First, collecting and
analyzing data to harness them for policymaking purposes.
Second, able and incorruptible leaders who set high
standards for themselves and others and have lived up to
these standards. Third, Singapore created a meritocratic and
largely non-politicized bureaucracy that could strategize,
make far sighted policies, and implement them in a
coordinated way. Coordinated implementation is key to
delivering results. Fourth, national leadership-maintained
harmony in a multi-ethnic society and proactively defused
tensions. Fifth, Singapore attracted immigrants, both
skilled and unskilled. Sixth, leadership mobilize domestic
resources which played a critical role in financing
infrastructure, housing, and other vital investments.
Lastly, Singapore has never been comfortable to rest on its
laurels and has always been open to ideas, eager to learn,
ready to innovate, and leverage new technologies. |
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