MACROECONOMIC DETERMINANTS OF GOVERNANCE IN MALAYSIA AND SINGAPORE: A CONCEPTUAL FRAMEWORK
DOI:
https://doi.org/10.35631/AIJBES.828012Keywords:
Economic Factors, Governance, Macroeconomic Determinants, SDG 16, Social FactorsAbstract
This conceptual analysis paper presents an integrated framework to analyse how key macroeconomic determinants such as economic growth, foreign direct investment, trade openness, human capital, and income inequality systematically influence the governance in Malaysia and Singapore. By drawing on institutional economics, political economy, and development theory, this study highlights the channels through which macroeconomic conditions impact the governance of a nation. By contrasting a middle-income developing economy with a high-income developed economy, this study emphasizes the importance of developmental stages and institutional maturity in shaping governance responses. The proposed framework contributes to the governance literature by reframing governance as a macro-driven outcome and offers policy insights aligned with Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions).
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