comparative Economic paper.
here is an example of comparative economic paper.
Singapore and Malaysia got separated in 1965. Comparing these two nations is more complex because Singapore is a city and Malaysia has many cities, towns and villages.
Malaysia though has plenty of natural resources failed to develop as Singapore due to the policies followed during the last 50 years. Singapore is pushing forward towards development. This has proven that possessing only natural resources will not beget prosperity, focussing on development will help an economy.
Singapore after its separation from Malaysia has become one of the richest and most developed nations in the world. Singapore and Malaysia have similar demographics and use same language. Malaysia is a middle income economy and aims to achieve high-income status by 2020. However, the difference in growth of these two nations is the approach adopted by them.
Corruption and GDP:
Singapore which is one of the most developed nation’s is corruption-free and has remarkably high GDP. Whereas, Malaysia is facing issues of corruption and planning to increase GDP levels. Singapore is focussing to address the problems of society and improve the quality of life of citizens.
Singapore economy majorly depends on exports and on growth of financial sector. Due to its development policies Singapore attracts foreign investments.
|Population||30.3 M||5.54 M|
|Population Density||92.32/sq km||7829/ sq km|
|GDP||$296 billion||$293 billion|
|Ease of Doing business||Rank 18||Rank 1|
The income tax rates of Malaysia are higher than Singapore.
Seeing the dominance of the above factors of Singapore on Malaysia it can be said that it I more developed than Malaysia and no doubt attracts foreign investments. It has emerged as Asia’s most friendly locations to trade.