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Articles 1 - 30 of 75
Full-Text Articles in Public Economics
Within-Development Density And Housing Prices In Singapore, Eric Fesselmeyer, Haoming Liu, Louisa Poco
Within-Development Density And Housing Prices In Singapore, Eric Fesselmeyer, Haoming Liu, Louisa Poco
Research Collection College of Integrative Studies
This paper measures how much more households pay for less density in their immediate surroundings. Using transaction and administrative data and exploiting the introduction of a regulation that restricted the number of housing units for certain land lots, we find that households discount density: a 10% increase in within-development density decreases the price per square meter by 5%. Further, the mean price per square meter of the average development increased by 1%–3% after the regulation was introduced, while the amount of built-up space remained constant. The increase in total revenue suggests developers may underestimate the externality caused by density.
The Importance Of Considering Debt And Young Children In Activation: A Survival Analysis Of Return To Welfare, Irene N. Y. Ng, Jian Qi Tan, Mathews Mathew, Kong Weng Ho, Yi Ting Ting
The Importance Of Considering Debt And Young Children In Activation: A Survival Analysis Of Return To Welfare, Irene N. Y. Ng, Jian Qi Tan, Mathews Mathew, Kong Weng Ho, Yi Ting Ting
Research Collection School Of Economics
While there has been much research on welfare exit and entry into employment, less research has looked at return to government assistance. Applying survival analysis on data from a national government assistance programme in Singapore, we found two important factors of welfare return to which activation programmes need to pay greater attention. First, return was more likely if former beneficiaries accumulated a higher number of types of arrears rather than higher dollar values of arrears. This new finding contributes to the emerging literature on bandwidth tax, and suggests the importance of designing programmes that relieve mental accounting due to debt …
The Case Of Singapore, Hwee Kwan Chow, Kong Weng Ho
The Case Of Singapore, Hwee Kwan Chow, Kong Weng Ho
Research Collection School of Economics
The economic impact of the Covid-19 pandemic on Singapore was more severe and protracted than the global financial crisis. Singapore responded with easing of the monetary policy stance, reinforcing financial stability, helping individuals to reduce debt obligations, easing business cashflow constraints, adjusting financial regulatory and supervisory protocols to cope with immediate challenges, and enabling the financial sectors to build long-term capabilities. Fiscal responses were unprecedented with four consecutive budgets and two ministerial statements, initially focusing on immediate assistance in respect of jobs, businesses, households, and later refined to providing more sector-specific assistance as the pandemic evolved with more detailed information …
Sustainable Strategies For Mass Rapid Transit Ppps, Sock Yong Phang, Bin Chye Tan
Sustainable Strategies For Mass Rapid Transit Ppps, Sock Yong Phang, Bin Chye Tan
Research Collection School Of Economics
Mass rapid transit (MRT) PPPs have proliferated in the past two decades. This chapter provides a framework to categorise and understand alternative PPP designs. As MRT systems are inherently large, unprofitable and risky projects, PPP design is critical to project success and sustainability. We study the experiences of MRT PPPs in London, Hong Kong, Singapore and Beijing to understand factors underlying success and failure and to arrive at policy recommendations for PPPs. Policymakers need to have additional governance improvement and risk mitigation measures in place when tied supply chains are utilised. Hong Kong’s experience illustrates that ‘Rail plus Property’ strategy …
Providing Childcare, Christine Ho, Sunha Myong
Providing Childcare, Christine Ho, Sunha Myong
Research Collection School Of Economics
Women’s economic empowerment has been hailed as one of the most remarkable revolutions in the past 50 years. Yet, women still face the lion’s share of the burden of childcare despite major progress in their education and earnings capacity. This is particularly salient in many Asian countries. This chapter proposes a synthesis of the state of knowledge on childcare and discusses policy-relevant issues applicable to the Singapore context. Selected policies are documented and lessons from the international landscape are discussed. Raising children incurs both direct costs in the form of childcare and opportunity costs in the form of career costs. …
Jobs For Justice(S): Corruption In The Supreme Court Of India, Madhav S. Aney, Shubhankar Dam, Giovanni Ko
Jobs For Justice(S): Corruption In The Supreme Court Of India, Madhav S. Aney, Shubhankar Dam, Giovanni Ko
Research Collection School Of Economics
We investigate whether judicial decisions are affected by career concerns of judges by analyzing two questions: Do judges respond to incentives to pander by ruling in favor of the government in the hope of receiving jobs after retiring from the Supreme Court? Does the government reward judges who rule in its favor with prestigious jobs? We construct a data set of Supreme Court of India cases involving the government for 1999–2014. We find that incentives to pander have a causal effect on judicial decision-making, and they are jointly determined by the importance of the case and whether the judge retires …
Housing Equity And Household Consumption In Retirement: Evidence From The Singapore Life Panel©, Lipeng Chen, Liang Jiang, Sock Yong Phang, Jun Yu
Housing Equity And Household Consumption In Retirement: Evidence From The Singapore Life Panel©, Lipeng Chen, Liang Jiang, Sock Yong Phang, Jun Yu
Research Collection School Of Economics
Housing affordability for elderly homeowners involves an entirely different set of issues as compared to housing affordability for first-time homeowners. To afford to ‘age-in-place’ may require homeowners to access channels that enable them to withdraw their housing equity to finance consumption in retirement. We utilize data from the Singapore Life Panel© survey to empirically investigate the impact of housing equity on the consumption of elderly households. Based on panel analysis, we find housing equity value has no significant impact on non-durable consumption for elderly people. The conclusion holds for a battery of robustness checks. Moreover, heterogeneity analyses based on subsamples …
Do Private Household Transfers To The Elderly Respond To Public Pension Benefits? Evidence From Rural China, Plamen Nikolov, Alan Adelman
Do Private Household Transfers To The Elderly Respond To Public Pension Benefits? Evidence From Rural China, Plamen Nikolov, Alan Adelman
Economics Faculty Scholarship
Aging populations in developing countries have spurred the introduction of public pension programs to preserve the standard of living for the elderly. The often-overlooked mechanism of intergenerational transfers, however, can dampen these intended policy effects, as adult children who make income contributions to their parents could adjust their behavior in response to changes in their parents’ income. Exploiting a unique policy intervention in China, we examine using a difference-in-difference-in-differences (DDD) approach how a new pension program impacts inter vivos transfers. We show that pension benefits lower the propensity of adult children to transfer income to elderly parents in the context …
Building An Equitable And Inclusive City Through Housing Policies: Singapore’S Experience, Sock Yong Phang
Building An Equitable And Inclusive City Through Housing Policies: Singapore’S Experience, Sock Yong Phang
Research Collection School Of Economics
Inequality is an age-old concern. In recent years, the rise of income inequality has received worldwide media and policy attention, beginning with the Occupy movement of 2011-2012 and a wave of notable scholastic books such as Stiglitz (2012), Piketty (2014), and Atkinson (2015). Piketty’s Capital in the 21st Century, an unlikely bestseller, contained a vast amount of data showing that the rich are taking rising shares of income and wealth in the advanced economies. Piketty’s approach towards capital and wealth is an aggregative one, and he does not treat real estate or land as a different or distinct form of …
The Process Of Conducting Socioeconomic Research In Vietnam: An Internship With The Development And Policies Research Center (Depocen), Kira Le
Independent Study Project (ISP) Collection
As Vietnam continues its rapid development, its government and people will be increasingly reliant on research organizations such as the Development and Policies Research Center (DEPOCEN) to study the socioeconomic issues that demand to be addressed in the interest of the sustainable development of the country. DEPOCEN is an independent research organization that has studied issues ranging from poverty and gender equality, to business & investment environment and trade liberalization. Since its establishment in 2005, DEPOCEN has developed collaborative relationships with many other research institutions like Oxford Economics and the Korean Institute of Economic Policy, and has offered its services …
Short-Run Health Consequences Of Retirement And Pension Benefits: Evidence From China, Plamen Nikolov, Alan Adelman
Short-Run Health Consequences Of Retirement And Pension Benefits: Evidence From China, Plamen Nikolov, Alan Adelman
Justice & Well-Being Studies Faculty Scholarship
This paper examines the impact of the New Rural Pension Scheme (NRPS) in China. Exploiting the staggered implementation of an NRPS policy expansion that began in 2009, we used a difference-in-difference approach to study the effects of the introduction of pension benefits on the health status, health behaviors, and healthcare utilization of rural Chinese adults age 60 and above. The results point to three main conclusions. First, in addition to improvements in self-reported health, older adults with access to the pension program experienced significant improvements in several important measures of health, including mobility, self-care, usual activities, and vision. Second, regarding …
Strategic Sequential Bidding For Government Land Auction Sales – Evidence From Singapore, Sumit Agarwal, Jing Li, Ernie Teo, Alan Cheong
Strategic Sequential Bidding For Government Land Auction Sales – Evidence From Singapore, Sumit Agarwal, Jing Li, Ernie Teo, Alan Cheong
Research Collection School Of Economics
This paper studies the extent to which equilibrium auction prices are pushed up sequentially due to strategic bidding behaviors in government land auction sales. Using a unique dataset that covers the universe of tendering prices submitted by all developers for all residential land auction sales in Singapore, we find that a tenderer’s bids are significantly higher where there was a previous land parcel sold within two years and located within four kilometers. The elevated price margin decreases with time and geographic distance. Tracking sequential bids submitted by same developers over time, we find that the incumbent winner of a previous …
International Energy Geopolitics, Bert Chapman
International Energy Geopolitics, Bert Chapman
Libraries Faculty and Staff Presentations
Overview of international energy geopolitical trends. Emphasizes the importance of the Persian Gulf, South China Sea, East China Sea, Russia, and the Arctic to U.S. and international economic and strategic developments. Stresses the continuing importance of fossil fuels in domestic and international energy consumption, the variety of energy sources being used by various global regions, the potential for military conflict over access to natural resources, and how emerging energy leaders will determine global energy, environmental, and international security developments.
Policy Innovations For Affordable Housing In Singapore: From Colony To Global City, Sock Yong Phang
Policy Innovations For Affordable Housing In Singapore: From Colony To Global City, Sock Yong Phang
Research Collection School Of Economics
Global cities today are facing fundamental challenges in relation to unaffordable housing and growing economic inequality. Singapore’s success in making home ownership possible for 90% of its population has attracted much attention internationally. This book represents a culmination of research by the author on key housing policy innovations for affordable housing. Housing policy changes were effected in the 1960s through reforms of colonial legislation and institutions dealing with state land acquisition, public housing, and provident fund savings. The comprehensive housing framework that was established enabled the massive resettlement of households from shophouses, slums and villages to high-rise government-built flats. In …
A Political Theory Of Kulturkampf: Evidence From Imperial Prussia & Republican Turkey, Ioannis N. Grigoriadis, Theocharis Grigoriadis
A Political Theory Of Kulturkampf: Evidence From Imperial Prussia & Republican Turkey, Ioannis N. Grigoriadis, Theocharis Grigoriadis
Theocharis Grigoriadis
No abstract provided.
Poverty Mapping Using Convolutional Neural Networks Trained On High And Medium Resolution Satellite Images, With An Application In Mexico, Boris Babenko, Jonathan Hersh, David Newhouse, Anusha Ramakrishnan, Tom Swartz
Poverty Mapping Using Convolutional Neural Networks Trained On High And Medium Resolution Satellite Images, With An Application In Mexico, Boris Babenko, Jonathan Hersh, David Newhouse, Anusha Ramakrishnan, Tom Swartz
Economics Faculty Articles and Research
Mapping the spatial distribution of poverty in developing countries remains an important and costly challenge. These “poverty maps” are key inputs for poverty targeting, public goods provision, political accountability, and impact evaluation, that are all the more important given the geographic dispersion of the remaining bottom billion severely poor individuals. In this paper we train Convolutional Neural Networks (CNNs) to estimate poverty directly from high and medium resolution satellite images. We use both Planet and Digital Globe imagery with spatial resolutions of 3-5 m2 and 50 cm2 respectively, covering all 2 million km2 of Mexico. Benchmark poverty estimates come from …
Urban Rail Transit Ppps: Lessons From East Asian Cities, Zheng Chang, Sock Yong Phang
Urban Rail Transit Ppps: Lessons From East Asian Cities, Zheng Chang, Sock Yong Phang
Research Collection School Of Economics
Private sector participation in urban rail transit has proliferated in the past two decades. The large metropolises of East Asia have had decades of experience with private sector participation in the provision of heavy metro services. The design of these public–private partnerships (PPP) are varied. The diverse experiences of Tokyo, Hong Kong, Singapore and Beijing contain valuable lessons for other cities. Using a case study approach, this paper discusses three features of urban rail transitdevelopments in the context of East Asian cities, viz., farebox recovery, land value capture mechanisms, and vertical structure of the industry. Super vertical integration between rail …
Determinants Of Urban Land Supply In China: How Do Political Factors Matter?, Wen-Tai Hsu, Xiaolu Li, Yang Tang, Jing Wu
Determinants Of Urban Land Supply In China: How Do Political Factors Matter?, Wen-Tai Hsu, Xiaolu Li, Yang Tang, Jing Wu
Research Collection School Of Economics
This paper explores two political factors for their potential effects on urban land supply in China: corruption, and competition for promotion. We find that standard urban economic predictions hold in the sense that both population and income increases are strongly significant determinants for the increase in urban land supply. Conditional on these demand-side factors, we find that the usage of two-stage auctions (as a proxy for corruption) is highly correlated with the increase in land supply. The corruption effects are strongest for commercial land, followed by residential land and then industrial land. To shed light on the competition motives among …
Determinants Of Urban Land Supply In People's Republic Of China: How Do Political Factors Matter?, Wen-Tai Hsu, Xiaolu Li, Yang Tang, Jing Wu
Determinants Of Urban Land Supply In People's Republic Of China: How Do Political Factors Matter?, Wen-Tai Hsu, Xiaolu Li, Yang Tang, Jing Wu
Research Collection School Of Economics
This paper explores whether and how corruption and competition-for-promotion motives affect urban land supply in the People's Republic of China. Conditional on demand-side factors, we find that corruption is highly correlated with an increase in land supply. The corruption effects are strongest for commercial land, followed by residential land, and then industrial land. To shed light on the competition motives among prefectural leaders, we examine how the number of years in office affects land supply and distinguish among different hypotheses. Our empirical results show robust rising trends in land sales. These results are consistent with the hypothesis that among prefectural …
Religion, Administration & Public Goods: Experimental Evidence From Russia, Theocharis N. Grigoriadis
Religion, Administration & Public Goods: Experimental Evidence From Russia, Theocharis N. Grigoriadis
Theocharis Grigoriadis
In this paper, I argue that religion matters for the provision of public goods. I identify three normative foundations of Eastern Orthodox monasticism with strong economic implications: 1. solidarity, 2. obedience, and 3. universal discipline. I propose and solve a public goods game with a three-tier hierarchy, where these norms are modeled as treatments. Obedience and universal discipline facilitate the provision of threshold public goods in equilibrium, whereas solidarity does not. Empirical evidence is drawn from public goods experiments run with regional bureaucrats in Tomsk and Novosibirsk, Russia. The introduction of the same three norms as experimental treatments produces different …
Housing Policies In Singapore, Phang Sock Yong, Matthias Helble
Housing Policies In Singapore, Phang Sock Yong, Matthias Helble
Research Collection School of Economics
Singapore has developed a unique housing system, with three-quarters of its housing stock built by the Housing & Development Board (HDB) and homeownership financed through Central Provident Fund (CPF) savings. As a result, the country’s homeownership rate of 90% is one of the highest among market economies. At different stages of its economic development, the Government of Singapore was faced with a different set of housing problems. An integrated land–housing supply and financing framework was established in the 1960s to solve the severe housing shortage. By the 1990s, the challenge was that of renewing aging estates and creating a market …
Incense Burning During Pregnancy And Birth Weight And Head Circumference Among Term Births: The Taiwan Birth Cohort Study, Le-Yu Chen, Christine Ho
Incense Burning During Pregnancy And Birth Weight And Head Circumference Among Term Births: The Taiwan Birth Cohort Study, Le-Yu Chen, Christine Ho
Research Collection School Of Economics
Incense burning for rituals or religious purposes is an important tradition in many countries. However, incense smoke contains particulate matter and gas products such as carbon monoxide, sulfur and nitrogen dioxide, which are potentially harmful to health. We analyzed the relationship between prenatal incense burning and birth weight and head circumference at birth using the Taiwan Birth Cohort Study. We performed multivariate regression analysis on a sample of 15,773 Taiwanese babies born in 2005 and controlled extensively for factors that may be correlated with incense burning and birth outcomes. Prenatal incense burning environment was associated with lower birth weight and …
Housing Policies In Singapore, Sock Yong Phang, Matthias Helble
Housing Policies In Singapore, Sock Yong Phang, Matthias Helble
Research Collection School Of Economics
Singapore has developed a unique housing system, with three-quarters of its housing stock built by the Housing & Development Board (HDB) and homeownership financed through Central Provident Fund (CPF) savings. As a result, the country’s homeownership rate of 90% is one of the highest among market economies. At different stages of its economic development, the Government of Singapore was faced with a different set of housing problems. An integrated land–housing supply and financing framework was established in the 1960s to solve the severe housing shortage. By the 1990s, the challenge was that of renewing aging estates and creating a market …
Are House Prices Driven By Capital Flows? Evidence From Singapore, Hwee Kwan Chow, Taojun Xie
Are House Prices Driven By Capital Flows? Evidence From Singapore, Hwee Kwan Chow, Taojun Xie
Research Collection School Of Economics
This paper investigates whether real house price appreciations can be attributed to the surge in real capital inflows into Singapore. We proxy capital flows by using the amount of foreign direct investments (FDI) to real estate capturing the foreign purchases of property in Singapore which we deflate by the private residential property price index. Notwithstanding the absence of a cointegrating relationship, our results support the hypothesis that lagged short term fluctuations in capital inflows are positively associated with the growth rates of house prices over the last decade. We also provide evidence that macroprudential measures implemented by Singapore reduced the …
Religious Origins Of Democracy & Dictatorship, Theocharis Grigoriadis
Religious Origins Of Democracy & Dictatorship, Theocharis Grigoriadis
Theocharis Grigoriadis
Weber considered the Protestant work ethic the foundation of modern capitalism. I extend Weber’s theory by arguing that states with predominantly Roman Catholic, Eastern Orthodox, and Muslim populations have had a stronger inclination toward underdevelopment and dictatorship than states with Protestant or Jewish majorities. This is the case because their respective religious collectives (monastery, tariqa) promote the hierarchical provision of common goods at the expense of market incentives. I define the aforementioned three religions as collectivist, in contrast to Protestantism and Judaism, which I define as individualist. I provide a historical overview that designates the Jewish kibbutz as the collective …
Monetizing Housing For Retirement In Singapore, Sock Yong Phang
Monetizing Housing For Retirement In Singapore, Sock Yong Phang
Research Collection School Of Economics
In 2015, the value of housing assets owned by households in Singapore at the aggregate level was 55% of their net worth.1 Ninety percent of Singapore households owned their homes, meaning that almost all households had wealth saved in housing, and households’ housing wealth was 2.1 times that of the country’s gross domestic product. In addition, Singapore is facing an aging population. The resident old age support ratio, defined as the number of persons aged 20–64 per person aged 65 years and over, decreased from 9.0 in 2000 to 5.7 in 2015.2 Against this backdrop of asset-rich and aging households, …
The Zen Of Charity Giving In China: An Understanding Of The Chinese Philanthropic Sector And Recommendations On Moving Towards Sustainability, Li Zheng
Capstone Collection
China has shifted from a centrally planned to a market based economy in 1978. Since then, the country has experienced rapid economic growth and social development. With a more liberal economic environment, the voice of civil society becomes stronger, which incentives the emergence of philanthropy and charitable giving. As a result, the government has begun to encourage private donation and development of foundations, while watching carefully and constraining its activities. By analyzing both qualitative and quantitative data, this paper explores and evaluates the effectiveness of this emerging sector. The paper further advocates for improving current charity law and developing a …
Singapore’S Housing Policies: Responding To The Challenges Of Economic Transitions, Sock Yong Phang
Singapore’S Housing Policies: Responding To The Challenges Of Economic Transitions, Sock Yong Phang
Research Collection School Of Economics
Singapore has developed its own unique state-driven housing system, with more than three quarters of its housing stock built by the Housing and Development Board and homeownership financed through Central Provident Fund savings. As a result, it has one of the highest homeownership rates amongst market economies. This paper provides a historical perspective of the main housing problems faced by successive prime ministers and their respective policy responses. Under the leadership of Prime Minister Lee Kuan Yew (1959-1990), the government established an integrated landhousing supply and housing finance framework to channel much needed resources into the housing sector to deal …
Home Prices And Inequality: Singapore Versus Other Global Superstar Cities, Sock Yong Phang
Home Prices And Inequality: Singapore Versus Other Global Superstar Cities, Sock Yong Phang
Research Collection School Of Economics
The Global City concept originates from the work of sociologist Saskia Sassen, which dates back to the 1980s. In an age of globalisation, division of labour is international in scope and production activities are distributed across the world. A global city is a significant point where the internationally oriented financial and producer services that make the global economy run choose to agglomerate.
Reading Between The Poverty Lines, Srijit Mishra
Reading Between The Poverty Lines, Srijit Mishra
Srijit Mishra
The proposed Rangarajan method on measurement of poverty in India borrows elements from three earlier methods – those of Alagh, Lakdawala and Tendulkar. An important departure in the Rangarajan method is to compute the poverty line commodity basket by combining items from two fractile groups to address the relatively higher expenses for some essential non-food items. This, while being statistically plausible, poses a behavioural dilemma, as there will be no fractile group that will satisfy both. As an alternative, we suggest dual poverty lines where the fi rst is computed on the basis of average calorie, protein and fat requirements …