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Promoting SMEs and Enhancing Labor Productivity in Singapore: A Policy Analysis

In: Foreign Direct Investment and Small and Medium Enterprises Productivity and Access to Finance

Author

Listed:
  • Khee Giap Tan
  • Yan Yi Tan

Abstract

While Singapore has been doing well in terms of cross-country per capita income comparisons and in terms of overall employment growth, it has been a laggard when it comes to labor productivity and this concern is more serious for small and medium enterprises (SMEs). In this context, this chapter first identifies the sources of gross domestic product (GDP) growth and simulates different scenarios pertaining to the potential GDP which the economy can achieve given the level of required productivity based on some employment-growth assumptions. Further, the chapter reevaluates the performance, challenges and opportunities for SMEs as well as suggests several policy strategies as to how SMEs can synergize and be more competitive moving forward.

Suggested Citation

  • Khee Giap Tan & Yan Yi Tan, 2015. "Promoting SMEs and Enhancing Labor Productivity in Singapore: A Policy Analysis," World Scientific Book Chapters, in: Khee Giap Tan & Kong Yam Tan (ed.), Foreign Direct Investment and Small and Medium Enterprises Productivity and Access to Finance, chapter 7, pages 133-144, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814678810_0007
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