Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Business
Financial Sector Liberalization And Its Challenges To The Local Banks: The Experience Of Singapore, Swee Liang Tan, Gilbert Yip Wei Tan
Financial Sector Liberalization And Its Challenges To The Local Banks: The Experience Of Singapore, Swee Liang Tan, Gilbert Yip Wei Tan
Research Collection Lee Kong Chian School Of Business
The main theme of the paper is about the challenges that financial sector liberalization poses to local banks. It reviews the experience of Singapore. We begin by explaining the unique circumstances surrounding Singapore. A small city-state controlled by a single party with about 65% majority in Parliament, Singapore has a paternalistic government that can be protective of industries that are strategic to the development of the country. Yet its government is also pragmatic, forward looking and pro-reformists. Because of its unique circumstances, the Singapore experience with liberalization is worth studying. Three key ideas will emerge in the paper. First, the …