An Explanation for Singapore’s Innovation Gap
Carney, Richard W.
Loh, Yi Zheng
Date of Issue2008
S. Rajaratnam School of International Studies
Why can’t Singapore innovate? Innovations tend to come in two varieties: radical or incremental. Radical innovations, like the internet or biotechnology, involve the development of entirely new products. Incremental innovations occur with continuous small-scale improvements, as with automobiles over the last 100 years. Each type of innovative style requires a different set of complementary institutions. The problem for Singapore is that it combines institutions; as a result, they generate conflicting innovation incentives which ultimately undermine the building of a durable base of innovative activity.
DRNTU::Social sciences::Political science
RSIS Commentaries, 049-08
Nanyang Technological University