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Full-Text Articles in Social and Behavioral Sciences
Housing Policy, Wealth Formation And The Singapore Economy, Sock-Yong Phang
Housing Policy, Wealth Formation And The Singapore Economy, Sock-Yong Phang
Research Collection School Of Economics
This paper evaluates the contribution of housing policy in Singapore to financial sector development, housing wealth formation and macro-economic performance, both retrospectively and prospectively. It provides an overview of past housing policies and traces the linkages to the financial sector. Housing policy as effected through the Housing and Development Board and the Central Provident Fund (CPF) hampered the development of the commercial housing loans sector and domestic financial markets, but contributed to the overall growth and stability of the housing loans market and associated financial institutions. Housing policy and the trend of housing asset inflation contributed significantly to the formation …
Motor Vehicle Taxes As An Environmental Management Instrument: The Case Of Singapore, Ngee-Choon Chia, Sock Yong Phang
Motor Vehicle Taxes As An Environmental Management Instrument: The Case Of Singapore, Ngee-Choon Chia, Sock Yong Phang
Research Collection School Of Economics
Being geographically small, land scarcity poses a potential constraint for economic growth in Singapore. Restraining car ownership and car use through motor vehicle taxes is part of the land-transport policy to ensure smoother traffic flow. This paper analyses the use of motor vehicle taxes in Singapore as an environmental management instrument. It evaluates the effectiveness of ownership and use taxes as instruments to internalise congestion and environment externality. Economic issues relating to the use of such taxes are also highlighted. It concludes that motor vehicle taxes offer Singapore a double dividend.