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The Vehicle Quota System In Singapore: An Assessment, Winston T. H. Koh, David K. C. Lee
The Vehicle Quota System In Singapore: An Assessment, Winston T. H. Koh, David K. C. Lee
David LEE Kuo Chuen
This paper reviews the developments since the vehicle quota system was introduced in Singapore in May 1990. We discuss the bidding strategies for the certificates of entitlement (COE) under both the transferable and nontransferable auctions, as well as the equity of the present system and the desirability of transferable COEs. We argue that the COE auction should be made discriminatory and propose an alternative system of COE auction that we feel is both equitable and at the same time politically acceptable. We also survey developments in market competition in the car industry.