An Evaluation of the Economic
Since its inception, the Republic of Singapore has combined the fastest growth with the lowest inflation of any industrial economy. This feat was accomplished with a strict set of economic goals including a conservative monetary and fiscal policy, free trade, and a commitment to stable prices (Wood, 25). This evaluation of Singapore's economy will look at the history and forces behind their success.
Sir Stamford Raffles established Singapore as a British trading post in 1819. At the …
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…the world in a relatively short amount of time. Its openness to the outside world lends itself as an example as to what other newly developing economies and governments can accomplish if they are committed to their goals. Granted, Singapore's governmental and economic institutions have only been around for 30 years so we will have to see how they stand the test of time. There's no denying, though, that they are off to a great start.
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