NAI News

Sherraden writes about asset building in Singapore in new book

Critical Issues in Asset Building in Singapore’s Development.

Michael Sherraden, the S.R. Nathan Visiting Professor at the National University of Singapore (NUS) and co-director of the Next Age Institute, has the lead paper in the forthcoming book “Critical Issues in Asset Building in Singapore’s Development.”

Singapore has led in asset-based policy since the1960s. “Asset building has become the backbone of Singapore’s strategy for social and economic development of households, with applications in housing, insurance protections, health care, education, and many other areas,” Sherraden writes in “Challenges in Asset Building in Singapore.”

Sherraden points out three challenges facing the inclusive asset building policy in Singapore. They are the aging population, technological transformations in money and financial services, and long-term protection of accumulated assets.

In Singapore, “asset building policy is not primarily about money, but rather about family and society development,” he writes. “Overall, the asset building policies defined by the CPF [Central Provident Fund] and its cousin schemes are a noteworthy achievement, playing a key role in strengthening families and communities and in building the nation. … At the same time, … no human endeavor is ever without challenges.”

Sherraden is the George Warren Brown Distinguished University Professor at Washington University, founding director of the Center for Social Development.

The book, from the publisher World Scientific, is scheduled for publication in August 2018.