History of Singapore’s Economic Miracle

Abstract

The article reviews the monograph "Singapore: Economic History" by Mariya G. Osipova, research fellow of the Centre for Southeast Asia, Australia and Oceania of the Institute of Oriental Studies of the Russian Academy of Sciences. The author has managed to show consistently, step by step, the economic development of Singapore during two centuries, disclose both objective and subjective circumstances that led to the transformation of Singapore from a British colony into an innovative and financial hub of the world. At the same time, M.G. Osipova can be called a pioneer in the study of Singapore's economic development in the post-Soviet academic space. It is noted that the value of the monograph is not only to disclose the mechanism of rapid economic growth of Singapore in a short historical period, but also to conclude that the main secret of its "economic miracle" is the creation of a unique national economic model, based on the careful consideration of specific historical conditions of development of Singapore society, its national, religious and cultural characteristics.