Author: Peter Wilson
Publisher: World Scientific
ISBN: 9814343943
Category : Business & Economics
Languages : en
Pages : 235
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Book Description
This book is a collection of invited and selected papers from the Singapore Economic Policy Forum 2009 around a central theme, Challenges Facing Singapore in the Post-Crisis Era and Policy Responses. There are very few books on the Singapore economy. This one is largely non-technical in nature and brings the reader up to speed on the key issues facing policymakers in Singapore in the wake of the worst financial crisis since the Great Depression. The contributors are all experts in their field and have extensive experience of the Singapore economy. The book also offers an international dimension to look at the role of China in the Asian economy and the impact on Asia of reforms to the international financial architecture.
Author: Peter Wilson
Publisher: World Scientific
ISBN: 9814460559
Category : Business & Economics
Languages : en
Pages : 236
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Book Description
This book is a collection of invited and selected papers from the Singapore Economic Policy Forum 2009 around a central theme, Challenges Facing Singapore in the Post-Crisis Era and Policy Responses. There are very few books on the Singapore economy. This one is largely non-technical in nature and brings the reader up to speed on the key issues facing policymakers in Singapore in the wake of the worst financial crisis since the Great Depression. The contributors are all experts in their field and have extensive experience of the Singapore economy. The book also offers an international dimension to look at the role of China in the Asian economy and the impact on Asia of reforms to the international financial architecture. Contents:Introduction (Peter Wilson)The Post-Crisis Era: Challenges for the Singapore Economy (Manu Bhaskaran and Peter Wilson)Economic Policy-Making in Singapore: Some Reflections (Basant K Kapur)Reform of the International Financial Architecture, the G20 and Asia (Pradumna R Rana)The Current Productivity Drive in Singapore and Labor Market Policies (Chew Soon Beng and Rosalind Chew)China as an Emerging Market for Singapore: Challenges and Opportunities (Yunhua Liu)Equity in Singapore's Healthcare Financing (Tilak Abeysinghe, Himani and Jeremy Lim)Monetary Policy in Singapore and the Global Financial Crisis (Chow Hwee Kwan and Peter Wilson)Fiscal Policy in Singapore and the 2010 Budget (Lee Soo Ann)Singapore's Exchange Rate Policy: An Evaluation (Partha Sen)Citizen-Government Partnership for Social Equity: How It Strengthened with the Global Crisis (Chew Soon Beng and Rosalind Chew) Readership: Students and researchers who are interested in the Singapore economy. Keywords:Singapore Economy;Global Financial CrisisKey Features:This is a timely book which brings together a number of experienced observers of the Singapore economy to provide up-to-date and relevant policy proposals on many areas of public policy, including health, education, monetary and fiscal policy and issues connected with the labor market and social equityReviews: “In this authoritative and stimulating volume, Peter Wilson and his team of leading Singapore intellectuals provide a rigorous, forward-looking analysis of policy options and challenges. The international parameters are likely to include slower global economic growth and continuing asset price volatility, while at home the challenges include the evident secular decline in productivity growth and a range of pressing social policy issues. A must-read volume. ” Hal Hill H W Arndt Professor of Southeast Asian Economies Australian National University “This is a timely book with fresh insights and recommendations which reframe policy issues in key areas. The bold proposals are a valuable contribution to the debate on the future of Singapore in general and its economy in particular.” Phang Sock Yong Professor of Economics Singapore Management University
Author: Sanchita Basu Das
Publisher: Institute of Southeast Asian Studies
ISBN: 9814311057
Category : Business & Economics
Languages : en
Pages : 252
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Book Description
Singapore had been one of the nations severely affected by the 2008-09 global financial and economic crisis. The city state came under pressure through the financial, trade, and confidence channels. To counter these shocks, Singapore policymakers undertook unprecedented monetary and fiscal policy measures. They subsequently charted a revival strategy that would help the country emerge stronger after the crisis. These all-encompassing policies together with the global economic recovery in 2009 helped the city state bounce back faster and stronger than many other regional economies. This book provides an insight into the events that occurred during the crisis and Singapore's successful navigation to economic recovery. "Although much has been written about the global financial crisis of 2008-09, not enough has been said about how it affected Singapore and the policy response. In this highly readable book, Sanchita Basu Das fills this gap, explaining how the crisis rippled through the Singapore economy via trade channels, the financial sector, and asset markets. But the greatest strength of this volume is its comprehensive account of the extraordinary measures Singapore put in place to deal pre-emptively with what could have been huge declines in output and employment in the face of the collapse of trade and credit flows. Singapore's multi-pronged approach, and especially the fiscal support and loan guarantees contained in the 2009 budget, must go down as one of the boldest and most creative policy responses to a crisis. It is a valuable lesson to economics students and practitioners alike. This book gives you the full story." Vikram Khanna Associate Editor The Business Times "Sanchita Basu Das is to be congratulated for providing a fascinating, accessible, and forward-looking analysis of Singapore's response to the global economic crisis of 2008-09. As a highly trade-dependent economy, Singapore was hit hard by these events. But the government was nimble and quick to react. The author describes and evaluates this response, and draws out general lessons for crisis management and mitigation in small open economies. Highly recommended." Hal Hill H.W. Arndt Professor of Southeast Asian Economies Australian National University. "This is a comprehensive account of the impact of the global financial crisis on Singapore -- one of the most open economies in the world -- and policy responses by the government and central bank. The book identifies the need to move to a more knowledge-intensive economy as the key policy challenge for post-crisis Singapore." Masahiro Kawai Dean and CEO Asian Development Bank Institute "Singapore was affected disproportionately by the global economic crisis of 2008-09. While it is currently rebounding impressively, government officials and the private sector would do well to learn from the crisis experience in devising future policies. Moreover, the Singapore experience is instructive as to how external economic shocks can be transmitted to open economies and, hence, has great relevance beyond its borders. This book by Sanchita Basu Das gives a comprehensive survey of Singapore in crisis and provides a wealth of information and insightful analysis, using clear, non-technical language. It is extremely useful contribution to scholars, policymakers, and other students of Asian economics." Michael G. Plummer Organisation for Economic Co-operation and Development (OECD)
Author: Hui Ying Sng
Publisher: World Scientific
ISBN: 9814280461
Category : Business & Economics
Languages : en
Pages : 222
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Book Description
This book is an annual effort by the economists at the Nanyang Technological University to provide analysis, interpretations and insights of contemporary economic issues affecting Singapore and Asia. It covers two key themes: (1) Global Financial Tsunami and (2) other economic issues affecting Singapore and Asia. The Global Financial Tsunami is currently ravaging the world financial systems and the world economy. The authors brilliantly tackle pertinent issues such as fiscal and monetary management of the current crisis, impacts of the crisis on the Singapore and Asian economies, policy measures implemented by Singapore and other countries to combat the crisis, and regional efforts to mitigate the adverse impacts of the crisis. A wide range of important economic issues affecting Singapore and Asia, including inflation, exchange rate, workfare, environmental economics, population and worth of human life in Singapore are addressed competently. The chapters build on economic and analytical frameworks to help readers better understand the economic and policy issues discussed. Sample Chapter(s). Foreword (53 KB). Chapter 1: The Deepening Global Recession and the Great Depression Fear (252 KB). Contents: Economic Analysis of the Global Financial Tsunami: The Deepening Global Recession and the Great Depression Fear (C Y Lim); The Surprising Resurgence of Fiscal Policy (S M Sheffrin); The Global Financial Tsunami: Implications for East Asian Economics (K Y Tan); Global Financial Tsunami: Can the Industrial Relations Mechanism Save Singapore This Time Around? (R Chew); The On-going Global Financial Crisis and Asian Regionalism (P B Rana); Global Economic Crisis and Energy Security: Integrated Energy Market (Y-H Chang); Economic and Policy Issues: Singapore Growth Model: Its Strengths and Its Weaknesses (C Y Lim); The Role of Competition in Singapore: A Complexity Point of View (C L Lam); Inflation, Exchange Rate and the Singapore Economy: A Policy Simulation (K M Choy & T Abeysinghe); Workfare, Not Welfare: An Exploration of International Experiences and Policy Implications for Singapore (K Adireksombat); What is Human Life Worth? (E Quah et al.); Is the Environment a Game? Game Theoretical Analysis of the Kyoto Protocol (E G S Teo). Readership: Undergraduates and general public interested in economic issues affecting Singapore and Asian Economies.
Author: Hui Ying Sng
Publisher: World Scientific
ISBN: 9814460745
Category : Political Science
Languages : en
Pages : 220
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Book Description
This book is an annual effort by the economists from the Nanyang Technological University to provide analysis, interpretations and insights on contemporary economic issues affecting Singapore. In 2010, Singapore's economy was just recovering from the sharp economic downturn in 2008/09 caused by the Global Financial Crisis. The global economic outlook in the short and medium term remained uncertain and the risk of another economic or financial crisis remains high. Thus, one of the key themes of this book is to study economic crises and financial crises, and the policy measures that are available to manage them. Looking ahead, in order to ensure long term growth and prosperity for Singapore's economy, microeconomic policy adjustments and fine-tuning is still needed to build a competitive and resilient nation. Therefore, the second key theme of the book is to review several public policies in Singapore, such as competition, healthcare, training, free trade agreements, state capitalism and inequality. Contents:Economic Crisis Management:The National Wages Council (NWC) and Macroeconomic Management in Singapore (LIM Chong Yah)Unpreparedness in the Great Recession (LIM Chong Yah & SNG Hui Ying)Why are Financial Crises so Costly? (TAN Kim Heng)A Case for Selective Capital Control (LIM Chong Yah & Sarah CHAN)Public Policies and Other Economic Issues:Competition Policy and Law in Singapore (LAM Chuan Leong)Healthcare: Containing Cost without Comprising Quality (Linda TAN Hui Min & CHEW Soon Beng)Economics of Training: Market Failure and Government Intervention (Rosalind CHEW)A Review of the US-Singapore Free Trade Agreement (CHEE Yoke Heong & CHIA Wai Mun)State Capitalism in Singapore (SNG Hui Ying)Growth, Opportunity, and Inequality: Some Empirics from Singapore (HO Kong Weng)Are Fines Compatible with Building a Truly Fine Country? (Walter THESEIRA & TAN Di Song) Readership: Undergraduates in economics & political science, policy-makers and general public. Keywords:Singapore Economy;Crisis Management;Financial Crisis;Policy Issues;Competitiveness;Healthcare;Training;Capital Control;Free-Trade Agreement;State Capitalism;InequalityKey Features:The book has a strong focus on economic/financial crises and the Singapore approach to crisis management, which is different from the standard policy toolsWe have authoritative authors writing several key chapters. Mr Lam Chuan Leong (Chairman of the Competition Commission of Singapore) wrote on Competition Law, Prof Lim Chong Yah (founding-chairman of NWC) wrote on the National Wages Council (a key institution in crisis management), and Prof Chew Soon Beng (renowned labor economist) wrote on trainingThe book has a wide coverage of public policy topics
Author: Dr Mu Yang
Publisher: World Scientific
ISBN: 9814434620
Category :
Languages : en
Pages : 144
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Book Description
The book analyzes the nature of Chinese economy which enables it to go through the financial tsunami pretty unscathed. It discusses the stimulus package designed by the Chinese government to keep the economy on course, as well as its results ? both positive and negative aspects in the middle and long term. The 2008?09 financial crisis makes it very clear that we need a two-pronged approach to deal with the situation, namely governments need a) to take quick and decisive actions to stem any further deterioration in financial systems; b) to revamp their economies by refitting existing engines in the real economy. China, as the third largest economy in the world, and with its robust domestic consumption and a healthy financial system, is one of the most important drivers to pull the world out of recession. According to the Chinese leadership, China's main contribution is to keep its own economy running smoothly. In response to the crisis, the Beijing government has poured money into the following sectors: public housing, earthquake reconstruction, physical infrastructure, social security, education and healthcare. So far, the results have helped China to maintain the targeted high growth. Given the open nature of its economy, its high growth has also benefited other countries, thereby contributing to the global economy. The current crisis strengthens a trend that has emerged since the Asian financial crisis of 1997. And that is the enhanced economic integration of China with its East Asian neighbours and Southeast Asia. This augurs well for East Asian regionalism which may include the birth of Asian Monetary Fund. The global environment in the wake of the crisis poses new challenges to China, for example, in the form of shrinking size of its traditional export market in the USA and Europe. China needs to modify its strategy from previous export-oriented and investment-driven strategy into one with more emphasis on consumption. There is a lot of scope for China to embark on productive consumption such as cleaning up the environment, physical infrastructure, social security, education and healthcare. If done well, they will lay a firm basis for long-term economic development. It represents an occasion for China to embark on a nation-wide effort to upgrade its economy in the key sectors. At the same time, attention needs to be paid to improving economic-legal institutional framework to support China's role as a major global player.Contents: IntroductionThe 2008 Financial Crisis and the Chinese EconomyShanghai as an International Financial CentreThe Renminbi DebatePromoting China-ASEAN Economic CooperationThe Flying Geese ModelReflections on Developmental ModelsBy Way of Conclusion: Some Random Thoughts Readership: Academics interested in Asian Studies, China's economy and the financial crisis; general public.
Author: Wai Mun Chia
Publisher: World Scientific
ISBN: 9812815589
Category : Business & Economics
Languages : en
Pages : 231
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Book Description
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, OC Public Policies and Economic Issues of SingaporeOCO, 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, OC Singapore and the Region in a Globalized WorldOCO, 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, OC Other Economic IssuesOCO, 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.
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1484312856
Category : Business & Economics
Languages : en
Pages : 67
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Book Description
This paper outlines that the banking sector remains healthy, backed by high capital, liquidity, provisioning and profitability ratios. Sector-wide nonperforming loans (NPLs) have increased slightly (to 2 percent in 2017:Q1), due largely to stresses in the Oil and Gas (O&G) services sector. Banks have responded by increasing provisions (using forward-looking measures of impairment) and restructuring their loans. Overall, the banking sector is well-positioned to withstand shocks. Capital and liquidity positions are sufficiently strong and well above regulatory requirements. Capital and liquidity positions of the local banking groups remain strong. Liquidity coverage ratios (LCR) of all three major banks remained high and rose in 2016:Q4, remaining well above the regulatory limits. The turnaround in bank’s profitability (especially the strong performance in 2017:Q1) is attributed to two factors: an acceleration in credit growth and increases in fee income from wealth management services. Local banks have been a key factor behind the wealth management sector’s growth and its main beneficiary.
Author: Linda Low
Publisher:
ISBN:
Category : History
Languages : en
Pages : 448
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Book Description
Singapore's quick recovery from the recent economic crisis is attributed to its strong public policies. This book suggests further strengthening of the country's public policy in order to improve its competitive edge in the 21st century. The policy issues discussed fall into four broad categories: Economic and Technological Policy includes an analysis of how the Singapore economy fared under the recent regional economic crisis and explores how it meets the twin calls of globalisation and regionalisation. Fiscal and Regulatory Policy includes a discussion of current trends in government revenue and expenditure policy, and the country\rquote s regional role in containing land/forest fires in Southeast Asia. Resource Development and Management Policy discusses the issue among others, of the human resource and employment challenges Singapore faces in the context of the knowledge-based economy. Educational and Social Policy includes a description on how overseas education augments and complements local education in Singapore.
Author: J. Dowling
Publisher: Springer
ISBN: 0230307027
Category : Business & Economics
Languages : en
Pages : 271
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Book Description
This book provides an analysis of the global economic crisis from an Asian perspective. It examines the impacts of the policy measures adopted, the remaining challenges in rebalancing the global economy, the next steps in regional economic integration in Asia, and issues related to reform of the international financial architecture.
