Developmental state, neoliberal principles, transformation of public housing policy in Singapore

Abstract

This paper examines the transformation of public housing policy in Singapore in the context of tensions between state-led developmentalism and neoliberal principles. As one of the Asian Tigers, Singapore represents a distinctive case where an open economy dominated by transnational corporations coexists with a strong party state, often described as state capitalism. The study traces changes in housing policy from 1979 to 2011, identifying two key stages. The first stage was marked by market-oriented regulatory relaxation and financial liberalisation, largely driven by domestic factors. The second stage involved the growing influence of international capital, seeking entry into a market previously dominated by government-linked corporations. The most recent scheme, DBSS, illustrates this duality: while part of the housing sector is increasingly opened to private capital, another part remains under strong state control. The findings shed light on the non-linear pathways of neoliberalisation in Singapore and the ongoing friction between developmentalist and neoliberal models.