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Policy Formulations for a Knowledge-based Economy: A Comparative Study of Malaysia and Singapore

By Sajit Chandra Debnath.

Published by The International Journal of Knowledge, Culture and Change Management

Malaysia and Singapore have shown tremendous success in economic development by transforming their economic system into a knowledge-based economy. This paper explores the policies pursued by governments to create a knowledge-based economy. The comparative analysis shows that Singapore is one of the most successful countries in the region that pursued appropriate policies to become a knowledge-based economy. Malaysia, while showing some developments in KBE infrastructure development has not attained a status comparable to Singapore.

The paper uses empirical data for both Singapore and Malaysia to relate the efforts pursued by both countries to operationalize their policies on becoming knowledge-based economies. Each country’s policies are analyzed through a comparative framework in identifying whether their policy outcomes are unique to only both of the countries or there is a general pattern observable in a number of countries in terms of creating a knowledge-based economy.

International Journal of Knowledge, Culture and Change Management, Volume 8, Issue 1, pp.147-158. Article: Print (Spiral Bound). Article: Electronic (PDF File; 986.351KB).

Dr. Sajit Chandra Debnath

Doctoral Student, Asia Pacific Studies, Ritsumeikan Asia Pacific University, Beppu Shi, Oita Ken, Japan