Singapore and Kuwait : Small states' development models in comparative context

Allahyarova Shahla (2018) Singapore and Kuwait : Small states' development models in comparative context. Faculty of International Management and Business.

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After the Economic and financial crisis in 2008, a number of countries expressed interest in Eastern economic models and best development practices. Therefore, eastern development models have become again important research topic in the XXI century. Successful small country practices, in this regards, can be attractive to Eastern European states, as these countries are also relatively small with limited capabilities and also face similar challenges. The concept of small state in this case, is heavily debated, however, small states basically can be characterized by relatively small population, limited human capital, and a confined land area. These countries face capacity constraints with inadequate production capabilities and high external vulnerability. Considering the above-mentioned facts, in this paper two successful small states’ development models will be analyzed. Singapore as one of the most developed countries in the world and Kuwait; an oil-rich country with boosting economy have been chosen for the research topic. Although these two countries are different from each other, common patterns can be also observed. Both are relatively small countries, to some extent located in a geostrategic area, have high of GDP per capita, extensive government intervention, regulation and planning to economy, as well as share best practices in economic development. Different endowments with production factors, but similar success: what can be the common and different in these countries? These countries’ development models will be elaborated in a comparative context and by drawing on main aspects, features, and factors of economic development, similarities and major differences in the approach of two states. Comparative analysis will be mainly based on economic parameters, statistical indicators, but the social and political context also will be discussed. The study will focus also on the lessons that can be learnt from the example of Singapore and Kuwait, and will be concluded with common development features and suggestions. Singapore development model can be a case-study for those countries with limited production factors, such as labour force or lacking natural resources, whereas the Kuwait model can be applied to the countries where the economy is driven and hugely depends on natural resources and diversification of economy is the top priority.

English title



Budapest Business University


Faculty of International Management and Business


Nemzetközi és Európa - tanulmányok Intézeti Tanszék




Nemzetközi Tanulmányok


Konzulens neveKonzulens típusaAssignment, Scientific qualification, InstitutionEmail
Dr. Novak TamasUNSPECIFIEDAssociate

Item Type: Thesis (UNSPECIFIED)
Uncontrolled Keywords: Városállam, Gazdaság, Gazdasági csoda, Esettanulmány, Szingapúr, Kuvait
Depositing User: Turányi Nóra
Date Deposited: 2018. May. 14. 13:41
Last Modified: 2019. Jul. 12. 09:40

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