Abstract Singapore’s remarkable economic development in the past five decades since independence has attracted much policy attention. This article first provides a brief overview of Singapore’s economic development. The second part discusses Singapore’s development strategies that are aligned with the Washington Consensus: globalisation, conservative fiscal and monetary policies, investments in education and infrastructure. It also discusses the policies adopted to further enhance the outcomes of such policies. The third part focusses on policies that are inconsistent with the prescriptions of the Washington Consensus: the visible hand of government direction of industry, the important role of state-owned enterprises, as well as growth-enhancing social policies. It concludes with the present challenges facing the city-state.

中文翻译：

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新加坡的经济发展：支持华盛顿共识还是反对华盛顿共识？

摘要自独立以来的过去五年中，新加坡经济取得了举世瞩目的成就，引起了许多政策关注。本文首先简要概述了新加坡的经济发展。第二部分讨论与华盛顿共识一致的新加坡发展战略：全球化，保守的财政和货币政策，对教育和基础设施的投资。它还讨论了为进一步增强此类政策的结果而采取的政策。第三部分着重于与《华盛顿共识》的规定相抵触的政策：政府对产业方向的明显控制，国有企业的重要作用以及促进增长的社会政策。总结了当前城市国家面临的挑战。