IN BRIEF | 5 min read

• Professor Lim Chong Yah was an eminent economist whose profound impact on the field of economics in Singapore and beyond will be remembered for years to come. His dedication to applied research and his passion for teaching set him apart as a truly remarkable academic.
• He was the founding chairman of the National Wages Council – a tripartite advisory body comprising representatives from government, trade unions, and employers charged with formulating guidelines on wage policy – which played a major role in ensuring smooth industrial relations and wage adjustments, and ultimately contributed significantly to Singapore's record of almost uninterrupted economic growth.

Professor Lim Chong Yah was an eminent economist whose profound impact on the field of economics in Singapore and beyond will be remembered for years to come. His dedication to applied research and his passion for teaching set him apart as a truly remarkable academic.

One of the most noteworthy aspects of Prof Lim's career was his commitment to conducting research that was not only academically rigorous but also had real-world implications. He understood the importance of bridging the gap between theory and practice, and he consistently sought to apply economic principles to solve practical problems. He was widely recognised as one of the foremost experts on the Singapore economy. In the 1980s he led study groups on the Central Provident Fund and on development options for the Singapore economy; their published findings have influenced policy-making.*  

He was the founding chairman of the National Wages Council, set up in 1972, and continued to helm the organisation for almost three decades. This council is a tripartite advisory body comprising representatives from government, trade unions, and employers, and is charged with formulating guidelines on wage policy. It played a major role in ensuring smooth industrial relations and wage adjustments, thus contributing very significantly to Singapore's record of almost uninterrupted economic growth. 

In addition to his groundbreaking research, Prof Lim was a gifted educator. His ability to convey complex economic concepts in a clear and accessible manner made him a beloved professor among his students. His passion for teaching was evident in his lectures, which were engaging, thought-provoking, and inspiring. Many of his students credit him as a pivotal influence in their academic and professional journeys, with his guidance shaping their careers in academia, as well as in the public and private sectors.

Prof Lim's impact on the field of economics extended beyond his individual contributions. His dedication to fostering the next generation of economists led to the establishment of the Lim Chong Yah Professorship in Arts and Social Sciences, ensuring that his legacy will continue to inspire future generations of scholars. This professorship serves as a testament to his lasting influence and the high regard in which he was held by his peers and the academic community.

The loss of Prof Lim is deeply felt, not only by his family, friends, and colleagues but also by the broader academic community in Singapore and beyond. While we mourn the passing of this exceptional economist, let us also celebrate his life and the enduring legacy he has left behind. Prof Lim's contributions to economics, both in terms of his research and his mentorship, will continue to inspire and guide future generations of economists. His unwavering commitment to making a meaningful impact on society serves as a lasting reminder of the potential of economic knowledge to shape the world for the better.

Prof Lim served as FASS Dean from 1971 to 1977, and headed the NUS Department of Economics and Statistics from 1977 to 1992. Under his leadership, the department became the largest economics department in the Asia-Pacific region, and introduced master’s and doctoral programmes. In 1980, he became a senior professor at NUS, when the University of Singapore merged with Nanyang University to form the National University of Singapore (NUS). In May 1992, he joined NTU to become a professor of economics and, in September 1992, he was named professor emeritus at NUS. An NUS and FASS alumnus, Prof Lim (Economics '55) received a Distinguished Arts and Social Sciences Alumni Award in 2017 and an NUS Distinguished Alumni Service Award in 2019.

References:
* "Report of the Central Provident Fund Study Group." Singapore Economic Review 31.1 (1986).
* "Policy Options for the Singapore Economy."  McGraw-Hill (1988).