Small Country Success: Rapid Growth and Its Causes in Singapore, Finland, and Ireland
Countries worldwide are endeavoring to imitate the industrial prowess of the East Asian pacesetters. The developmental experience of Singapore, Finland, and Ireland offers a different approach to rapid and sustained growth.
The focus of these countries, rather than being tightly bound to investment like their Asian counterparts, concentrates on building human capital in order to attract technology-intensive foreign direct investment and to enable domestic firms to compete in global markets for high value products and services.
In their new book Some Small Countries Do It Better, World Bank authors Shahid Yusuf and Kaoru Nabeshima analyse this special recipe for rapid and sustained growth for the large number of small, resource-poor countries. They explain how this of especial relevance in the competitive global environment of the 21st century.