Singapore: Selected Issues
May 5, 1999
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This Selected Issues paper presents a background and recent policy developments for Singapore’s financial sector. The paper highlights that in 1968, important tax and regulatory incentives were introduced to attract foreign investment in the financial sector and boost financial sector activity. In particular, the government catalyzed the development of Asian Currency Units (ACUs) by exempting nonresident depositors from withholding tax on ACU deposits. The paper also examines the impact of the external environment on economic activity in Singapore. Competitiveness issues are also discussed.
Subject: Balance of payments, Banking, Economic sectors, Export performance, Exports, Financial sector, Foreign direct investment, Foreign exchange, International trade, Real exchange rates
Keywords: bank disclosure, banking sector, bond market, CR, excess demand, Export performance, Exports, Financial sector, foreign direct investment, Foreign direct investment, Global, ISCR, market share, Real exchange rates
Pages:
25
Volume:
1999
DOI:
Issue:
035
Series:
Country Report No. 1999/035
Stock No:
1SGPEA0011999
ISBN:
9781451834178
ISSN:
1934-7685
