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.
|Keywords:||Knowledge-based Economy, Malaysia, Singapore, Economic Transformation, KBE Infrastructure|
Doctoral Student, Asia Pacific Studies, Ritsumeikan Asia Pacific University, Beppu Shi, Oita Ken, Japan
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