The Model of Singapore Miracle: Lessons for Russia

Book Review: Lee Kuan Yew (2018) From the Third World to the First: The Singapore Story, 1965–2000, Moscow: Mann, Ivanov and Ferber

  • Evgeny Balatsky Financial University under the Government of the Russian Federation
Keywords: politics, management, governance, government, economic development, power, corruption

Abstract

Russia have something in common—in particular, the uniqueness of their geographical parameters. It further provides a closer look at the model of the Singapore miracle, as
presented in the book by Lee Kuan Yew “From the Third World to the First. History of Singapore (1965–2000)”. This article discusses the opposite developmental trends of the
two countries in the recent decades in order to make the case that the Singapore model implemented by Lee Kuan Yew is an important factor. While Singapore moved from the
Third World to the First, Russia descended from the First World to the Third. To illustrate this “great castling”, the article provides data on where the two countries are located in
the expanded innovation and technology matrix. In this matrix, Russia lies between the periphery and the semi-periphery, while Singapore has for many years remained among
the leaders, confidently ahead of such core countries as the US and some leading European states. The author further considers some fundamental differences in the political models
of Singapore and Russia. Singapore’s distinct features include relying on common sense, intuition and tradition in their policy-making processes; a constant dialogue between
the government and the people in explaining important state decisions; the quick and concern for their reputation. A completely different political model is typical for Russia:
blind and formal adoption of Western managerial patterns and practices; the maximum isolation of the government from the people; systematic disregard for public accusations
against officials regarding their income and corruption. Considering the Singaporean model allows us to deduce the original formula for success: it must equal brilliant management
+ total perfectionism. Great emphasis on management effectiveness and meritocracy in the recruitment of state officials responsible for important decisions were important
factors of advancing Singapore along the path of economic development. One of the main achievements of Lee Kuan Yew was to ensure continuity in state policy for more than
60 years. This is what fundamentally distinguishes him from the Russian rulers, whose replacement is usually accompanied by radical changes in the political course.

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Author Biography

Evgeny Balatsky, Financial University under the Government of the Russian Federation

DSc in Economics, Professor, Director of the Centre for Macroeconomic Research, Financial University under the Government of the Russian Federation; Chief Researcher, Central Economics and Mathematics Institute of the Russian Academy of Sciences. Address: room 219, 4th Veshnyakovskij Passage, Moscow, 109456, Russian
Federation. E-mail: evbalatsky@inbox.ru

Published
2021-10-17
How to Cite
BalatskyE. (2021). The Model of Singapore Miracle: Lessons for Russia. Universe of Russia, 30(4), 188-208. https://doi.org/10.17323/1811-038X-2021-30-4-188-208
Section
READINGS AND REFLECTIONS