Lessons in growth for aspiring countries
Institutions must be strengthened, and governance improved, but countries need to know that such reforms take time to show results.
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DEVELOPING countries have much to learn from Lee Kuan Yew, the first prime minister of Singapore who transformed the republic from a Third-World economy to one of the most advanced countries in one generation.
The lessons for countries aspiring to learn from the Singapore development model are clear - strengthen the institutions and improve governance - but this is much easier said than done.
To begin with, aspiring countries need to improve the rule of law so that no one is above the law of the land.
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