Social safety nets and economic growth : the nordic model and its applications to Singapore.
The Nordic countries have been arguably very successful in providing comprehensive social safety nets for their people, yet achieving steady economic growth and competitiveness during a period of increasing globalisation. Singapore, on the other hand, has achieved stellar econom...
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| Format: | Theses and Dissertations |
| Language: | English |
| Published: |
2013
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/55170 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | The Nordic countries have been arguably very successful in providing comprehensive
social safety nets for their people, yet achieving steady economic growth and
competitiveness during a period of increasing globalisation. Singapore, on the other
hand, has achieved stellar economic growth, but has had to spend much less on social
support for its citizens. This paper will explain why the Nordic countries been able to
achieve relatively strong economic growth despite having such comprehensive welfare
states, which some have argued might weigh down growth. The "Nordic model" will
be analysed in this paper to understand the factors contributing to its unique success,
and to identify which of its features may be applicable to Singapore, as the latter seeks
to create a more inclusive society while sustaining economic growth. |
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