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By Ichiro Sugimoto

Learn on Singapore's monetary background has been advanced by way of the absence of financial info on pre-independence Singapore. This e-book goals to fill the distance via providing a time-series of ancient GDP estimates for the sessions 1900-39 and 1950-60. the recent facts awarded within the booklet sheds mild on key elements of Singapore's monetary historical past, particularly the connection among monetary instability and progress, in addition to the government's financial coverage in the direction of monetary progress. because the first complete empirical fiscal heritage of twentieth-century Singapore, this e-book is a beneficial reference resource for teachers and graduate scholars drawn to improvement and empirical economics.

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Extra info for Economic Growth of Singapore in the Twentieth Century: Historical GDP Estimates and Empirical Investigations (Economic Growth Centre Research Monograph Series)

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Gross capital formation Increase in stocks Gross fixed capital Formation 4. qxd 11/2/2010 4:37 PM Page 17 Introduction ✦ 17 approach, considers a country’s output for private final consumption expenditure, government final consumption expenditure, gross capital formation and net export of goods and services. 12 Conceptually, the results derived from each of these three approaches should be identical. However, different methods of estimating GDP will not yield similar statistical results due to leakages.

In 1867, the Settlements became a British Crown Colony, making the Settlements answerable directly to the Colonial Office in London instead of the Calcutta government based in India on April 1. Earlier on February 4, a “Letters Patent” granted the Settlements a colonial constitution. , ex-officio) members, and a Legislative Council, composed partly of official and partly of nominated members, of which the former had a narrow permanent majority. The work of administration, both in the Colony and in the Federated Malay States, was done through civil service in which members were recruited by competitive examination held annually in London.

This reconstruction exercise has been carried out in several countries by teams of researchers and in other countries by individual scholars. Angus Maddison, whose work on historical national accounts is frequently referred, collected a voluminous vast data, interpreted them in a consistent way, and made them internationally comparable to a siginificant extent. Expansion of the database 5 Historical researchers using economic models and advanced mathematical methods of data processing and analysis.

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