​​Brown-Bag Economics Seminar | EGOIN Theory of Development and Underdevelopment: Revisited

After more than five decades of teaching and literature study, including actual field cases of the development of history of Japan and the Asian NIEs of Taiwan, Malaysia and Singapore, and the field observations of growth and lack of growth of many countries including the USA and China, India and Indonesia, Iceland and Switzerland, Egypt and Nepal, the author finally came out with his own growth and development theory, explaining why global growth levels differ and why growth rates differ, intertemporally and across geopolitical entities. His EGOIN theory is a multi-factor theory, with emphasis on human capital, the attitude and aptitude of the government and of the people as important fundamentals. Understanding his multi-variable causality theory, inter alia, provides an excellent understanding of the Achilles’ heels of growth of an economy. Lim Chong Yah’s untraditional innovative EGOIN causality model has not only good diagnostic value, but also good prescriptive values for both emerging and developed economies. 

*The original lecture was given at the recent 2019 Singapore Economic Review Conference, chaired by Albert Winsemius Chair Professor Euston Quah at Mandarin Orchard on 5 August. Kindly treat this presentation as an encore seminar for a different audience.