16
Jul
Metusalem Nakale (DSocSci) Singapore’s economic transformation is the envy of many countries around the world. From 1967 to 1989, the real gross domestic product of Singapore increased six-fold, growing at 8.8 % a year. But how did Singapore do it? And what lessons can Namibia draw from Singapore’s experiences? Upon independence, in 1965, Singapore adopted a developmental state model of economic development. In this type of economic model, the state plays a significant role in directing economic activities. This model is contrasted with the free-market. The latter regards state intervention as detrimental to economic development. Supporters of the free-market ideology…