The financial crisis has not spared the Asia-Pacific, including Australia and Singapore. The two countries have, however, coped well or very well in the case of Singapore (Suhaimi, 2010). After two years of economic contraction, Singapore expects growth of 13% to 15% of its GDP for 2010, one of the highest growth rates in the world. Australia is the only country of the Organisation for Economic Cooperation and Development (OECD) to have escaped a technical recession and today has one of the strongest growth rates among developed countries and one of lowest unemployment rates (around 5%). Let us see first how to understand the rapid remission of Singapore and the robustness of the Australian economy and determine the factors that, in each case, explain their resilience to the crisis.
Chronique Internationale de l'IRES Issue 127, p. 222-230