This study re-examines some of the issues, challenges and policy options facing the Singapore economy in the light of the 1985–86 recession. Particular attention is paid towards reappraising the role of the government as an entrepreneur in economic activity, in macro-economic management, in savings and investment, and in the labour market. This is done in the context of and alongside an assessment of Singapore’s linkages with the global economy and its future comparative advantage in a dynamic international environment.
Singapore's phenomenal transformation from Third World to First World status has been of great interest to economists around the world yet there has been little quantitative research done on its economy and institutions. This innovative new research monograph fills the lacunae by presenting the Singapore economy through a macroeconometric model and laying the foundations for further research. Using formal econometric analysis and novel modelling techniques, Abeysinghe and Choy offer rare insights into how the Singapore economy works. Each of the major chapters discusses the implications of the empirical findings for current policy and an entire chapter has been devoted to macroeconomic policy simulations. This book is a unique introduction to the Singapore economy and would be of interest to econometric modellers and policy makers in Singapore as well as advanced undergraduates and graduate researchers interested in modelling small open economies.
This book provides a comprehensive overview of the economic development of Singapore, easily the leading commercial and financial centre in Southeast Asia throughout the twentieth century. This development has been based on a strategic location at the crossroads of Asia, a free trade economy, and a dynamic entrepreneurial tradition. Initial twentieth-century economic success was linked to a group of legendary Chinese entrepreneurs, but by mid-century independent Singapore looked to multinational enterprise to deliver economic growth. Nonetheless exports of manufactures accounted for only part of Singaporean expansion, and by the 1980s Singapore was a major international financial centre and leading world exporter of commercial services. Throughout this study Dr Huff assesses the interaction of government policy and market forces, and places the transformation of the Singaporean economy in the context of both development theory and experience elsewhere in East Asia.
This edition brings up to date a decade of research work developments of the Faculty of Arts and Social Science, National University of Singapore, since the first volume was published in 1985. The state of the respective disciplines covered are reviewed in terms of notable theoretical and conceptual developments, major benchmarks during the past decade, and research lacunae that need to be addressed, as well as their substantive developments and contributions in the Singapore context and possible future directions, resulting in a collection of essays that places the Faculty's studies in an international comparative framework.
Singapore's Constitution was hastily cobbled together after her secession from the Federation of Malaysia in 1965. In the subsequent 50 years, the Constitution has been amended many times to evolve a Constitution like no other in the world. Outwardly, Singapore has a Westminster-type constitutional democracy, with an elected legislature, fundamental liberties and safeguards to ensure the independence of the judiciary. On closer inspection, the Constitution displays many innovative and unusual characteristics. Most notable among them are the various types of Members of Parliament that have been introduced since the mid-1980s, the office of the Elected President and the fact that there is no constitutional right to property. This volume seeks to explain the nature and context of these constitutional innovations in the context of a pluralistic, multi-ethnic state obsessed with public order and security. The volatile racial mix of Singapore, with its majority Chinese population nestled in a largely Malay/Islamic world, compels the state to search for ethnic management solutions through the Constitution to guarantee to the Malays and other ethnic minorities their status in the polity. In addition, it examines how the concept of the rule of law is perceived by the strong centrist state governed by a political party that has been in power since 1959 and continues to hold almost hegemonic power.
Worlding Cities is the first serious examination of Asian urbanism to highlight the connections between different Asian models and practices of urbanization. It includes important contributions from a respected group of scholars across a range of generations, disciplines, and sites of study. Describes the new theoretical framework of ‘worlding’ Substantially expands and updates the themes of capital and culture Includes a unique collection of authors across generations, disciplines, and sites of study Demonstrates how references to Asian power, success, and hegemony make possible urban development and limit urban politics
The recently-adopted OECD convention outlawing bribery of foreign public officials is welcome evidence of how much progress has been made in the battle against corruption. The financial crisis in East Asia is an indication of how much remains to be done. Corruption is by no means a new issue but it has only recently emerged as a global issue. With the end of the Cold War, the pace and breadth of the trends toward democratization and international economic integration accelerated and expanded globally. Yet corruption could slow or even reverse these trends, potentially threatening economic development and political stability in some countries. As the global implications of corruption have grown, so has the impetus for international action to combat it. In addition to efforts in the OECD, the Organization of American States, the World Trade Organization, and the United Nations General Assembly, the World Bank and the International Monetary Fund have both begun to emphasize corruption as an impediment to economic development. This book includes a chapter by the Chairman of the OECD Working Group on Bribery discussing the evolution of the OECD convention and what is needed to make it effective. Other chapters address the causes and consequences of corruption, including the impact on investment and growth and the role of multinational corporations in discouraging bribery. The final chapter summarizes and also discusses some of the other anticorruption initiatives that either have been or should be adopted by governments, multilateral development banks, and other international organizations.
A collection of analytical reflections on how the island of Singapore has been transformed from a colony in a crumbling empire into a thriving, modern, secular, independent republic. These are the results of a five-year project by the Institute of Southeast Asian Studies.
This book is a spin-off from a highly successful seminar series jointly organized by the Division of Economics of the Nanyang Technological University (NTU) and the Ministry of Education (MOE) of Singapore. The seminars discuss contemporary domestic and regional economic issues and public policies that are relevant to the everyday lives of Singaporeans. The wish to introduce these economic issues to a broader audience outside the confinement of a lecture theatre, came to fruition, with the completion of this book.This book contains 13 chapters that are grouped under three sections. Under the section, ?Public Policies and Economic Issues of Singapore?, Singapore's public policies in the areas of healthcare, Central Provident Fund, and monetary policy are explored, as well as issues concerning Singapore's economic development, such as economic transformation, innovation and capital accumulation are discussed. The second section, ?Singapore and the Region in a Globalized World?, looks at the challenges and opportunities presented to Singapore and the region in an increasingly globalized world. Current issues on the sub-prime crisis and Asian monetary integration are also discussed. The last section, ?Other Economic Issues?, consists of papers in specific areas such as economics of medical decisions, economics of love, and the role of exchange rates in foreign direct investment.
