Re-inventing the Asian Model: The Case of Singapore
This monograph, written for the Institute of Policy Studies (Singapore), focuses on the structural weaknesses in the Singapore economy, in particular those which the author feels have been under-appreciated. Thus it pays special attention to the effect government intervention has had on the economy and finds that several unintended consequences of policy actions have accumulated over the years. Several of these have become serious constraints on Singapore's ability to adjust effectively to the rising challenges in the global and regional environments. With these aspects in mind, the monograph: analyzes the nature of the challenges faced by the Singapore economy; assesses the structural weaknesses which inhibit effective adjustment to address them and seek out their root causes; and makes recommendations of specific policy changes that are necessary. The monograph asserts that Singapore will retain a sufficient critical mass of regional manufacturing and service activities to remain a d
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0.1 Asset turnover activities adjustment allocation analysis Asia Asian Asian Financial Crisis capital CEIC Challenges Facing CHART China Chinese competitive advantage corporate restructuring corporate sector correlated errors costs countries CPF savers critical mass Declining Returns distorted economic agents economic decision-making economic growth Effects of Government entrepreneurs entrepreneurship exports factors of production firms funds GDP growth GIC's GLCs global Government Intervention Government of Singapore government-linked companies high savings rate higher hinterland Hong Kong improving Indonesia institutions Interest impact labour Leverage ratios Malaysia market economy national savings NTUC policy changes policy makers political price signals pricing power private sector privatisation problem Profit margins 0.1 regional hub returns on equity Returns to Foreign risk savings regime Singapore companies Singapore corporations Singapore Dollar Singapore economy Singapore faces Singapore Press Holdings Singapore Telecommunications Singapore's structural weaknesses substantial surplus Taiwan Tax impact value creation