Named after the city of Nanking The Singapore Tourist Association thus called for greater government involvement and funding to help develop the tourism industry in Singapore.
Its aim is to make accessible to a broad readership of nonspecialists some of the economic research being produced in the International Monetary Fund on topical issues.
The raw material of the series is drawn mainly from IMF Working Papers, technical papers produced by Fund staff members and visiting scholars, as well as from policy-related research papers. This material is refined for the general readership by editing and partial redrafting.
It has been prepared by David D. Driscoll of the Fund's External Relations Department. Growth in East Asia What We Can and What We Cannot Infer The spectacular growth of many economies in East Asia over the past 30 years has amazed the economics profession and has evoked a torrent of books and articles attempting to explain the phenomenon.
Articles on why the most successful economies of the region Hong Kong, Korea, Singapore, and Taiwan Province of China have grown, to say the least, robustly invariably refer to the phenomenon as "miraculous.
Confusion is compounded when he discovers that ideological debate has multiplied even further the analyses of this phenomenon. Rather than swelling the torrent of interpretations, this paper sets for itself the modest agenda of reviewing the weightiest arguments in the literature that attempt to identify the reasons for the extraordinary economic growth in East Asia and trying to decide which arguments make sense.
The exercise has value because finding the right explanation might suggest how to replicate this success elsewhere and, as a bonus, might also satisfy the reader's urge to solve an engaging intellectual puzzle.
It is best if we start with the facts. Since Asia, the largest and most populous of the continents, has become richer faster than any other region of the world. Of course, this growth has not occurred at the same pace all over the continent.
The western part of Asia grew during this period at about the same rate as the rest of the world, but, as a whole, the eastern half ten countries: The worst performer was the Philippines, which grew at about 2 percent a year in per capita termsabout equal to the average of non-Asian countries.
China, Indonesia, Japan, Malaysia, and Thailand did better, achieving growth rates of percent. This impressive achievement is, however, still modest compared with the phenomenal growth of Hong Kong, Korea, Singapore, and Taiwan Province of China, known as the "Four Tigers" because of their powerful and intimidating economic performance.
The Tigers have had annual growth rates of output per person well in excess of 6 percent. These growth rates, sustained over a year period, are simply amazing.
While the average resident of a non-Asian country in was 72 percent richer than his parents were inthe corresponding figure for the average Korean is no less than percent.
This paper begins by looking at the long-running debate over the nature of growth. Is growth the result for the most part of an accumulation of manpower and machinery, or is it the result of employing the latest technology?
The paper then looks at the growth record of the four countries from three other angles: The paper concludes with a few minimalist observations on possible areas for future study. The Nature of Growth: Factor Accumulation or Technological Progress Everyone agrees that the economies of East Asia, and particularly the Four Tigers, have grown spectacularly over the past generation, but nobody seems to agree on why.
The debate over why they have grown so well in the past raises difficult questions about regional growth in the future and about the aspiration of countries elsewhere to replicate the East Asian success.
The arguments at the center of the debate are based on theoretical notions of growth accounting. This accounting method deals with three elements that contribute to the production of goods and services: Labor and capital, known collectively as the "factors of production," refer in this context to the workforce and to the capital goods buildings, machines, vehicles that the workforce uses in manufacturing some product or providing some service.Hong Kong Legal Services Forum in Guangzhou 5 September Giving a keynote speech at the luncheon of the fifth Hong Kong Legal Services Forum in Guangzhou today (September 5), the Chief Executive, Mrs Carrie Lam, said that distinguished and professional legal services are important elements for the Guangdong-Hong Kong-Macao Greater Bay Area (Bay Area) to go global.
LSE offers development and training opportunities to all staff and students. Here you can: Search the training and development system directly from the search box below. As developing nations are increasingly heading toward technological advancement and quality services in the medical and healthcare sector, the global medical tourism market is anticipated to witness robust growth over , predominantly in Asian countries.
A Unique Partnership in China Graduate Study in China Financial Aid and Scholarships Career Services Hopkins-Nanjing Center 30th Anniversary. a news aggregator on singapore from alternative sources. Reuters, 16 Oct Singapore's exports in September rose less than expected as sales to Europe contracted and shipments to the United States slowed, adding to concerns that a sluggish global economy may bite into the city-state's exports.
The Singapore Tourism Board (STB), a statutory board under the Ministry of Trade and Industry, is responsible for developing Singapore’s tourism sector as well as promoting and marketing Singapore as a tourist destination.
The board started operations as the Singapore Tourist Promotion Board (STPB) on 1 January