This book provides a comprehensive overview of the economic development of Singapore, easily the leading commercial and financial centre in Southeast Asia throughout the twentieth century. This development has been based on a strategic location at the crossroads of Asia, a free trade economy, and a dynamic entrepreneurial tradition. Initial twentieth-century economic success was linked to a group of legendary Chinese entrepreneurs, but by mid-century independent Singapore looked to multinational enterprise to deliver economic growth. Nonetheless exports of manufactures accounted for only part of Singaporean expansion, and by the 1980s Singapore was a major international financial centre and leading world exporter of commercial services. Throughout this study Dr Huff assesses the interaction of government policy and market forces, and places the transformation of the Singaporean economy in the context of both development theory and experience elsewhere in East Asia.

‘… an important contribution … it stands alone for its quality and comprehensiveness and is an excellent base from which to study Singapore and the prospects of the east Asian region generally.’

Source: The Financial Times

‘… refreshing and sometimes thought provoking. It is essential reading for anyone concerned with export-led growth processes. But its audience is much wider; namely, vitually everyone - scholars, business, and lay persons - interested in Singapore’s economy, past, present, and future as well as the economy of Southeast Asia generally. The book may become a classic.’

J. Norman Parmer - Trinity University