From Efficiency-Driven to Innovation-Driven Economic Growth : Perspectives from Singapore
This paper looks at Singapore's efforts to transform the economic growth base from one that is predominantly efficiency-driven to one that is more innovation-driven. To accelerate the transition process, the government is aggressively investing in "innovation infrastructure"-systems a...
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| Format: | Policy Research Working Paper |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/04/5758470/efficiency-driven-innovation-driven-economic-growth-perspectives-singapore http://hdl.handle.net/10986/8982 |
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okr-10986-89822021-04-23T14:02:42Z From Efficiency-Driven to Innovation-Driven Economic Growth : Perspectives from Singapore Tan, Kim-Song Phang, Sock-Yong AIR ASTHMA BANKRUPTCY BIDDING BUSINESS SERVICES CITIES CITIES/COUNTRIES COLLABORATION COMPARATIVE ADVANTAGE COMPETITIVE BIDDING DECISION MAKING DEVELOPED COUNTRIES E-BUSINESS E-COMMERCE E-GOVERNMENT ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC VALUE ECONOMISTS EGOVERNMENT EMPLOYMENT ENTREPRENEURSHIP EXPLOITATION EXTERNALITIES FINANCIAL INSTITUTIONS GNP HOLISTIC APPROACH HOUSING HOUSING PROVISION IMMIGRATION INCOME INDUSTRIAL DEVELOPMENT INDUSTRIAL SITES INFRASTRUCTURE QUALITY INFRASTRUCTURE SERVICES INNOVATION INNOVATIONS LAND RECLAMATION LAND USE LAWS MARKET LIBERALIZATION MEDIA MEDICINE OPERATING COSTS PATENTS PATIENTS PERFORMING ARTS POLICY MAKERS POLICY RESEARCH POSITIVE EXTERNALITIES PRIVATE HOUSING PRIVATE SECTOR PROCUREMENT PRODUCTIVITY PRODUCTIVITY GROWTH PROGRAMS PROPERTY RIGHTS PUBLIC HOUSING PUBLIC TRANSPORT PURCHASING POWER PURCHASING POWER PARITY QUOTAS RECYCLING RESEARCH PROGRAMS SCIENTISTS SERVICE INDUSTRIES SEWAGE SOCIAL/BUSINESS/REGULATORY ENVIRONMENT SUBSIDIARY TAX RATES TECHNOLOGICAL INNOVATIONS TELECOMMUNICATIONS TELECOMMUNICATIONS CONNECTIVITY TELECOMS TELECOMS SECTOR TELEVISION TRAFFIC CONGESTION TRANSPARENCY TRANSPORT TRANSPORTATION URBAN DEVELOPMENT URBAN GROWTH WORKERS This paper looks at Singapore's efforts to transform the economic growth base from one that is predominantly efficiency-driven to one that is more innovation-driven. To accelerate the transition process, the government is aggressively investing in "innovation infrastructure"-systems and institutions that make the city a more conducive environment for innovations. The modus operandi, with a distinctive "winner-picking" flavor, mirrors that of its earlier strategic industrial policy in building up the manufacturing sector. It is also in sync with the new urban growth literature which argues that the success of any innovation-driven growth strategy depends on a city's ability to attract a large community of creative individuals in different fields. Innovation infrastructure building requires more than putting in the right systems. It also requires a mindset change at various levels of society. This paper looks at how the government's policy philosophy and practices have evolved over time, and discusses the effectiveness of the government-led, strategic supply-push approach in propelling Singapore onto an innovation-driven growth path. It takes into consideration the city-state's underlying comparative advantages (or disadvantages) and asks how Singapore's existing strength in efficiency infrastructure may give it a first mover advantage in attracting creative talent, how its success may be affected by the small size of the economy, and the various political and social constraints that a small sovereign city-state faces. These issues are explored against the backdrop of the keen competition among the major cities in the region to become an innovation hub. 2012-06-25T21:59:22Z 2012-06-25T21:59:22Z 2005-04 http://documents.worldbank.org/curated/en/2005/04/5758470/efficiency-driven-innovation-driven-economic-growth-perspectives-singapore http://hdl.handle.net/10986/8982 English Policy Research Working Paper; No. 3569 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research East Asia and Pacific Singapore |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
AIR ASTHMA BANKRUPTCY BIDDING BUSINESS SERVICES CITIES CITIES/COUNTRIES COLLABORATION COMPARATIVE ADVANTAGE COMPETITIVE BIDDING DECISION MAKING DEVELOPED COUNTRIES E-BUSINESS E-COMMERCE E-GOVERNMENT ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC VALUE ECONOMISTS EGOVERNMENT EMPLOYMENT ENTREPRENEURSHIP EXPLOITATION EXTERNALITIES FINANCIAL INSTITUTIONS GNP HOLISTIC APPROACH HOUSING HOUSING PROVISION IMMIGRATION INCOME INDUSTRIAL DEVELOPMENT INDUSTRIAL SITES INFRASTRUCTURE QUALITY INFRASTRUCTURE SERVICES INNOVATION INNOVATIONS LAND RECLAMATION LAND USE LAWS MARKET LIBERALIZATION MEDIA MEDICINE OPERATING COSTS PATENTS PATIENTS PERFORMING ARTS POLICY MAKERS POLICY RESEARCH POSITIVE EXTERNALITIES PRIVATE HOUSING PRIVATE SECTOR PROCUREMENT PRODUCTIVITY PRODUCTIVITY GROWTH PROGRAMS PROPERTY RIGHTS PUBLIC HOUSING PUBLIC TRANSPORT PURCHASING POWER PURCHASING POWER PARITY QUOTAS RECYCLING RESEARCH PROGRAMS SCIENTISTS SERVICE INDUSTRIES SEWAGE SOCIAL/BUSINESS/REGULATORY ENVIRONMENT SUBSIDIARY TAX RATES TECHNOLOGICAL INNOVATIONS TELECOMMUNICATIONS TELECOMMUNICATIONS CONNECTIVITY TELECOMS TELECOMS SECTOR TELEVISION TRAFFIC CONGESTION TRANSPARENCY TRANSPORT TRANSPORTATION URBAN DEVELOPMENT URBAN GROWTH WORKERS |
| spellingShingle |
AIR ASTHMA BANKRUPTCY BIDDING BUSINESS SERVICES CITIES CITIES/COUNTRIES COLLABORATION COMPARATIVE ADVANTAGE COMPETITIVE BIDDING DECISION MAKING DEVELOPED COUNTRIES E-BUSINESS E-COMMERCE E-GOVERNMENT ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC VALUE ECONOMISTS EGOVERNMENT EMPLOYMENT ENTREPRENEURSHIP EXPLOITATION EXTERNALITIES FINANCIAL INSTITUTIONS GNP HOLISTIC APPROACH HOUSING HOUSING PROVISION IMMIGRATION INCOME INDUSTRIAL DEVELOPMENT INDUSTRIAL SITES INFRASTRUCTURE QUALITY INFRASTRUCTURE SERVICES INNOVATION INNOVATIONS LAND RECLAMATION LAND USE LAWS MARKET LIBERALIZATION MEDIA MEDICINE OPERATING COSTS PATENTS PATIENTS PERFORMING ARTS POLICY MAKERS POLICY RESEARCH POSITIVE EXTERNALITIES PRIVATE HOUSING PRIVATE SECTOR PROCUREMENT PRODUCTIVITY PRODUCTIVITY GROWTH PROGRAMS PROPERTY RIGHTS PUBLIC HOUSING PUBLIC TRANSPORT PURCHASING POWER PURCHASING POWER PARITY QUOTAS RECYCLING RESEARCH PROGRAMS SCIENTISTS SERVICE INDUSTRIES SEWAGE SOCIAL/BUSINESS/REGULATORY ENVIRONMENT SUBSIDIARY TAX RATES TECHNOLOGICAL INNOVATIONS TELECOMMUNICATIONS TELECOMMUNICATIONS CONNECTIVITY TELECOMS TELECOMS SECTOR TELEVISION TRAFFIC CONGESTION TRANSPARENCY TRANSPORT TRANSPORTATION URBAN DEVELOPMENT URBAN GROWTH WORKERS Tan, Kim-Song Phang, Sock-Yong From Efficiency-Driven to Innovation-Driven Economic Growth : Perspectives from Singapore |
| geographic_facet |
East Asia and Pacific Singapore |
| relation |
Policy Research Working Paper; No. 3569 |
| description |
This paper looks at Singapore's efforts to transform the economic growth base from one that is predominantly efficiency-driven to one that is more innovation-driven. To accelerate the transition process, the government is aggressively investing in "innovation infrastructure"-systems and institutions that make the city a more conducive environment for innovations. The modus operandi, with a distinctive "winner-picking" flavor, mirrors that of its earlier strategic industrial policy in building up the manufacturing sector. It is also in sync with the new urban growth literature which argues that the success of any innovation-driven growth strategy depends on a city's ability to attract a large community of creative individuals in different fields. Innovation infrastructure building requires more than putting in the right systems. It also requires a mindset change at various levels of society. This paper looks at how the government's policy philosophy and practices have evolved over time, and discusses the effectiveness of the government-led, strategic supply-push approach in propelling Singapore onto an innovation-driven growth path. It takes into consideration the city-state's underlying comparative advantages (or disadvantages) and asks how Singapore's existing strength in efficiency infrastructure may give it a first mover advantage in attracting creative talent, how its success may be affected by the small size of the economy, and the various political and social constraints that a small sovereign city-state faces. These issues are explored against the backdrop of the keen competition among the major cities in the region to become an innovation hub. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Tan, Kim-Song Phang, Sock-Yong |
| author_facet |
Tan, Kim-Song Phang, Sock-Yong |
| author_sort |
Tan, Kim-Song |
| title |
From Efficiency-Driven to Innovation-Driven Economic Growth : Perspectives from Singapore |
| title_short |
From Efficiency-Driven to Innovation-Driven Economic Growth : Perspectives from Singapore |
| title_full |
From Efficiency-Driven to Innovation-Driven Economic Growth : Perspectives from Singapore |
| title_fullStr |
From Efficiency-Driven to Innovation-Driven Economic Growth : Perspectives from Singapore |
| title_full_unstemmed |
From Efficiency-Driven to Innovation-Driven Economic Growth : Perspectives from Singapore |
| title_sort |
from efficiency-driven to innovation-driven economic growth : perspectives from singapore |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/04/5758470/efficiency-driven-innovation-driven-economic-growth-perspectives-singapore http://hdl.handle.net/10986/8982 |
| _version_ |
1764407218136940544 |