Syndicate content

Singapore

Learning from our global benchmarking reports: A day in Singapore

Paramita Dasgupta's picture

Global benchmarking reports are great conversation starters. Here in Singapore, a nation defined by its drive for excellence, these benchmarking reports are held as evidence of the country’s development success.  From topping the global education index PISA, the Global Competitiveness Index, and the Leading Maritime Capitals of the World Report, Singapore takes great pride in being first, in Asia if not globally.  
 
An important global ranking for Singapore is the Doing Business survey, a ranking the island nation topped for many years, indicating the ease with which business can be done in the little red dot.

Transit-oriented development and the case of the Marina Bay area in Singapore

Gerald Ollivier's picture


What do you love about the city you live in?
 
Your answer may be a combination of the following: ease of travel and access to many jobs using high quality and low cost public transit; livability as measured by the availability of green or community space such as parks, schools, cultural or shopping centers; ease of walking and biking encouraging active living and an engaging community; and an idea of what the city would look like ten years from now.

How do we achieve sustained growth? Through human capital, and East Asia and the Pacific proves it

Michael Crawford's picture
Students at Beijing Bayi High School in China. Photo: World Bank


In 1950, the average working-age person in the world had  almost three years of education, but in East Asia and Pacific (EAP), the  average person had less than half that amount. Around this time, countries in  the EAP  region put themselves on a path that focused on growth  driven by human capital. They made significant and steady investments in  schooling to close the educational attainment gap with the rest of the world. While  improving their school systems, they also put their human capital to work in  labor markets. As a result, economic growth has been stellar: for four decades  EAP has grown at roughly twice the pace of the global average. What is more, no  slowdown is in sight for rising prosperity.

High economic growth and strong human capital accumulation  are deeply intertwined. In a recent paper, Daron Acemoglu and David Autor explore  the way skills and labor markets interact: Human capital is the central  determinant of economic growth and is the main—and very likely the only—means  to achieve shared growth when technology is changing quickly and raising the  demand for skills. Skills promote productivity and growth, but if there are not  enough skilled workers, growth soon chokes off. If, by contrast, skills are abundant and  average skill-levels keep rising, technological change can drive productivity  and growth without stoking inequality.

Which region in the world has the smartest kids? According to the OECD, it’s East Asia

Harry A. Patrinos's picture
Also available in: 中文
Students from Tran Dai Nghia High School near Can Tho, Vietnam (Photo: D7K_4030 by makzhou, used under CC BY-NC 4.0 / cropped from original)


With the release last month of the latest PISA (Program for International Student Assessment) results by the OECD (Organisation for Economic Co-operation and Development), it is apparent that many of the highest achieving students in the world are in East Asia.
 
Just as in the recently released TIMSS (Trends in International Mathematics and Science Study) results, Singapore leads the world in every subject in PISA, outperforming other economies and countries by a significant margin. Students in Singapore perform at a level that is up to two years ahead of their regional and OECD counterparts in science, mathematics and reading. Moreover, almost all Singaporean students have reached a basic level of proficiency or higher. And they just keep getting better, having significantly reduced performance below basic proficiency.
 
Japan also outperforms most participating economies in science, mathematics and reading. However, its score in reading has declined since the last round. Still, as in Singapore, 90% of students have reached a basic level of proficiency or above.

The FinTech revolution: A perspective from Asia

José de Luna-Martínez's picture



Will cash and checks still exist 15 or 20 years from now given the increasing digitization of money? Is the smartphone our new bank? Will many people working in the financial sector industry lose their jobs due to growing use of technology, robots, algorithms, and online banking? Is financial technology (FinTech) the solution to providing financial services to the 2 billion people in the planet that still lack access to finance? Will digital currencies and other innovative FinTech products pose systemic risks in the future? What is the best approach to regulate FinTech companies?

Việt Nam có thể học hỏi được gì từ Singapore về quản lý rủi ro ngập lụt

Linh X. Le's picture
 Toàn cảnh công viên Bishan-Ang Mo Kio, Singapore. Ảnh: Stefan/Flickr

Đối với người dân Việt Nam, đất nước Singapore không chỉ là một "con rồng Châu Á" mà còn rất gần gũi nhờ mối quan hệ thân mật giữa lãnh đạo nước nhà với Cựu Thủ tướng Lý Quang Diệu, người đứng đằng sau tất cả những thành công của Singapore ngày nay. Là biểu tượng của sự hiện đại và văn minh, đặc biệt với điều kiện tài nguyên thiên nhiên hạn chế, Singapore là mô hình đáng để Việt Nam học tập trên con đường phát triển theo hướng cạnh tranh, bền vững và văn minh.
 

中国城市可以从新加坡借鉴哪些经验?

Wanli Fang's picture
Also available in: English
新加坡Marina海湾的再开发项目将河道的一部分改造成水库。摄影: 10 FACE/Shutterstock

上周,我有幸参加了新加坡城市周活动。一同参加本次活动的还有世行驻华代表处的其他同事以及来自中国政府和参与世行项目的城市代表。对我们参会者而言,此行可以说是开阔眼界,使我们更清晰地了解到综合性的城市规划方法对构建可持续城市所起的重要作用,并为我们提供了诸多可推广的经验。这些经验稍加调整后即可为实现不同城市自身发展的目标提供实用的解决方案。以下几点经验供大家参考:
 
发展战略以人为本
 
要做到这一点,需要城市规划人员时刻关注市民对城市空间的日常体验,并通过公众参与请市民在决策过程发挥作用。譬如,在许多城市,公共交通被视为一种低端且不具备吸引力的出行方式,即便在交通拥堵严重情况下,公交载客量增长也停滞不前。但在新加坡,2014年公共交通在各种出行方式中的占比高达三分之二。在该市,乘坐地铁出行不仅舒适而且高效,因为各种公交工具和线路之间的换乘很方便,有明确的标识指引系统,换乘站点之间建有配备空调的连接走廊,并且为老年乘客和行动不便的乘客配置了考虑周到的空间设计和服务设施。此外,地铁站与主要零售和商业设施以及其它公共服务设施融合在一起,从而大大减少了最后一公里的连接问题。
 

What can Chinese cities learn from Singapore?

Wanli Fang's picture
Also available in: 中文
One of Singapore’s latest redevelopment projects included the construction of a freshwater reservoir. Photo: 10 FACE/Shutterstock

Last week, I had the opportunity to attend the Singapore Urban Week along with other colleagues from the World Bank Beijing office, as well as delegates from China’s national government and participating cities. For all of us, this trip to Singapore was an eye-opening experience that highlighted the essential role of integrated urban planning in building sustainable cities, and provided practical solutions that can be readily adapted to help achieve each city’s own development vision. A couple of key lessons learned:

Putting people at the center of development strategies

This is only possible when planners always keep in mind people’s daily experience of urban space and invite them as part of decision-making process through citizen engagement.

For instance, in many cities, public transit has been perceived as a low-end, unattractive option of travel, causing ridership to stagnate despite severe traffic congestion. But in Singapore, public transit accounts for 2/3 of the total travel modal share in 2014. Moving around the city by metro is comfortable and efficient because transfers between different modes and lines are easy, with clear signage of directions, air-conditioned connecting corridors, and considerate spatial designs and facilities for the elderly and physically-challenged users. In addition, metro stations are co-located with major retail and commercial activities and other urban amenities, significantly reducing last-mile connectivity issues.

How to scale up financial inclusion in ASEAN countries

José de Luna-Martínez's picture
MYR busy market

Globally, around 2 billion people do not use formal financial services. In Southeast Asia, there are 264 million adults who are still “unbanked”; many of them save their money under the mattress and borrow from so-called “loan sharks”, paying exorbitant interest rates on a daily or weekly basis. Recognizing the importance of financial inclusion for economic development, the leaders of the Association of South East Asian Nations (ASEAN) have made this one of their top priorities for the next five years.
 
Last week, the World Bank Group presented the latest data on financial inclusion in ASEAN to senior representatives of the ministries of finance and central banks of all 10 ASEAN member countries (Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam). The session, held in Kuala Lumpur, is one of the joint activities the new World Bank Research and Knowledge Hub and Malaysia is undertaking to support financial inclusion around the world.
 

How can rapidly aging East Asia sustain its economic dynamism?

Axel van Trotsenburg's picture
Also available in: 中文
Panos Agency


In the last three decades, East Asia has reaped the demographic dividend. An abundant and growing labor force powered almost one-third of the region’s per capita income growth from the 1960s to the 1990s, making it the world’s growth engine.
 
Now, East Asia is facing the challenges posed by another demographic trend: rapid aging. A new World Bank report finds that East Asia and Pacific is aging faster – and on a larger scale – than any other region in history.
 
More than 211 million people ages 65 and over live in East Asia and Pacific, accounting for 36 percent of the global population in that age group. By 2040, East Asia’s older population will more than double, to 479 million, and the working-age population will shrink by 10 percent to 15 percent in countries such as Korea, China, and Thailand.
 
Across the region, as the working-age population declines and the pace of aging accelerates, policy makers are concerned with the potential impact of aging on economic growth and rising demand for public spending on health, pension and long-term care systems.
 
As the region ages rapidly, how do governments, employers and households ensure that hard-working people live healthy and productive lives in old age? How do societies in East Asia and Pacific promote productive aging and become more inclusive?
 

Pages