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Contribution of the Strategic Economic Plan to Singapore’s Long-term Growth: A Synthetic Control Approach

Author

Listed:
  • Júlia Gallego Ziero Uhr

    (Economics, Universidade Federal de Pelotas, Pelotas, Brasil)

  • Felipe Weizenmann

    (Organization and Markets Graduate Program - PPGOM, Universidade Federal de Pelotas, Pelotas, Brasil)

  • Daniel de Abreu Pereira Uhr

    (Economics, Universidade Federal de Pelotas, Pelotas, Brasil)

  • Mariana Fialho Ferreira

    (Economics, Universidade Federal do Espírito Santo, Vitória, Brasil)

  • Igor Serpa Moraes

    (Organization and Markets Graduate Program - PPGOM, Universidade Federal de Pelotas, Pelotas, Brasil)

Abstract

We assess the impact of the Strategic Economic Plan on Singapore’s long-term GDP per capita. To our knowledge, we are the first to evaluate the effect of the 1991 plan on Singapore’s successful growth trajectory using methodologies aimed at causal identification. In other words, this article applies the Synthetic Control method and World Bank data from 1970 to 2018. We estimate an average increase of 6,641.71 US$ in Singapore’s GDP per capita. Results remain robust to placebo and leave-one-out tests and the Synthetic Difference-in-Differences method.

Suggested Citation

  • Júlia Gallego Ziero Uhr & Felipe Weizenmann & Daniel de Abreu Pereira Uhr & Mariana Fialho Ferreira & Igor Serpa Moraes, 2024. "Contribution of the Strategic Economic Plan to Singapore’s Long-term Growth: A Synthetic Control Approach," Economic Analysis Letters, Anser Press, vol. 3(3), pages 10-18, September.
    • Handle: RePEc:bba:j00004:v:3:y:2024:i:3:p:10-18:d:329
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