Rationale and Strategy for Expansion of Singapore Stock Market

Kangmao Wang
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Kangmao Wang: Department of Finance and Accounting, National University of Singapore, 10 Kent Ridge Crescent, Singapore 119260, Singapore

Review of Pacific Basin Financial Markets and Policies (RPBFMP), 2000, vol. 03, issue 01, 45-58

Abstract: This study provides an overview of the growth of the securities industry in Singapore. It discovers that the shrinking turnover attributes to the downfall IPO size, which in turn causes decreasing funds raised through the equity issuance. The analysis reveals a negative correlation between the stock market turnover and CPF (central provident fund) withdrawal. The study then discloses that domestic funds continue to be the main source to be invested in Singapore's stock market. It is concluded that the most effective measure to accelerate Singapore's effort in becoming a regional financial center is to attract more foreign funds and regional companies for listing on the Stock Exchange of Singapore.

Keywords: Singapore Stock Market; SES; CPF; Open to Foreign Fund (search for similar items in EconPapers)
JEL-codes: G1 G2 G3 (search for similar items in EconPapers)
Date: 2000
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DOI: 10.1142/S0219091500000042

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