The Singapore Success Story and Why Economic Growth Eludes Jamaica

Date

2012-07-27

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Abstract

At the start of the 1960s Jamaica and Singapore had comparable if not similar levels of per capita GDP. This continued until the mid 1970s. Singapore achieved remarkable growth rates, while Jamaica has not had the same success. This study, in determining what has accounted for the difference in economic success, has found that leadership and governance was most important for Singapore, while a lack of such leadership has characterized the Jamaican problem. The study employs growth diagnostics as a tool to determine what has hampered Jamaica’s growth and what may be some possible solutions.

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Keywords

Singapore, Jamaica, economic development

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