ISAS Working Papers

From a negligible base in 1990, e-commerce today accounts for over US$25 trillion (S$34 trillion) of transactions. Some of the fastest growth is taking place in large economies such as the United States, China and India. How do we account for this remarkable growth? How is it affecting the lives of consumers, and those of small businesses and the retail sector, which are likely to be the most affected? This paper explores the reasons behind the rapid growth of e-commerce and enquires into the likely effects on efficiency and prospects for inclusive growth.