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Full-Text Articles in Economics
Economic Development And The Distribution Of Land Rents In Singapore: A Georgist Implementation, Sock-Yong Phang
Economic Development And The Distribution Of Land Rents In Singapore: A Georgist Implementation, Sock-Yong Phang
Research Collection School Of Economics
Independent Singapore, which has a tradition of free trade, has implemented large doses of Henry George's prescriptions. It has successfully captured land rents for redistribution through its land acquisition, public housing and other programs. These policies have been instrumental in the successful economic development of the island city state. Industrial estates on state-owned land were leased to foreign multinationals for export-oriented manufacturing which created the bulk of jobs in the sector. Commercial developments are built by the program. Affordable 99-year leasehold housing, built by the state, provided added economic incentives for employment, and helped keep inflation and wages down. Private …
Singapore's Experience With Car Quotas: Issues And Policy Processes, Sock-Yong Phang, Wing-Keung Wong, Ngee-Choon Chia
Singapore's Experience With Car Quotas: Issues And Policy Processes, Sock-Yong Phang, Wing-Keung Wong, Ngee-Choon Chia
Research Collection School Of Economics
This paper examines the policy processes behind Singapore's car quotas. The policy, when filtered through the market mechanism, had a number of unintended consequences. The public's unhappiness with certain features and [`]loopholes' of the system resulted in many changes to the rules. The effects of recent measures to curb speculation on quota premiums are evaluated. Problems with Singapore's Weekend Car Scheme are also discussed. The lesson for transport policy makers elsewhere is that in attempting to deal with the road congestion problem through car ownership policies, an asset market for vehicles should be taken into account.
Pluralism, Multiculturalism And Group Rights, Chandran Kukathas
Pluralism, Multiculturalism And Group Rights, Chandran Kukathas
Research Collection School of Social Sciences
However prevalent may have been the longing for homogeneity, or at least social unity, in political thinking, the fundamental point which must be recognized is that cultural diversity or pluralism has been the most notable feature of society in the history of human set tlement. "Marginality and pluralism were and are the norm of civi lized existence."1 There are several reasons why this is the pattern revealed by history.2 The first has to do with the ubiquity of military conflict. Even among barbarians ethnic political unity was fragile because military conquests resulted in the mixing of peoples. But throughout history …
Tourism Growth In Singapore: An Optimal Target, Habibullah Khan, Sock-Yong Phang, Rex S. Toh
Tourism Growth In Singapore: An Optimal Target, Habibullah Khan, Sock-Yong Phang, Rex S. Toh
Research Collection School Of Economics
No abstract provided.
Temporary Equililibrium Dynamics With Learning: The Stability Of Random Walk Beliefs, Shurojit Chatterji
Temporary Equililibrium Dynamics With Learning: The Stability Of Random Walk Beliefs, Shurojit Chatterji
Research Collection School Of Economics
This paper examines the stability of deterministic steady-states with a one dimensional state-variable and a smooth, recursive updating rule. It is shown that the only possibly stable steady states are those associated with random walk beliefs, provided there is motion on a center manifold, which is the case when a key parameter is non-zero; In the extant literature, there is no motion on the center manifold (the parameter is zero), a consequence of the specific assumption that the expected value of the state variable next period determines its current value. The stability properties are seen to be robust with respect …