MAS at Forty: Past Contributions, Future Challenges

Hsien Loong Lee

Chapter 6 in Resilience, Dynamism, Trust:50 Landmark Statements by MAS Leaders, 2021, pp 49-53 from World Scientific Publishing Co. Pte. Ltd.

Abstract: I am happy to join MAS and our distinguished central bank governors, regulators and CEOs to celebrate MAS’ 40th anniversary. This is a significant milestone for MAS.Central banks and regulators play important roles in modern economies. Their policies have profound impact on the economic and financial stability of their countries and, ultimately, the lives of their citizens. Throughout history, many countries have suffered when the central bank or financial regulator failed in their functions. For instance, hyperinflation, balance of payments crises and financial system crises can often be traced to monetary instability or weaknesses in financial regulation. Conversely, central banks can improve the well-being of countries throughsound monetary policies and effective regulation. I am glad that over the past four decades, MAS has fulfilled its mission well and contributedsignificantly to Singapore’s development.

Keywords: Monetary Authority of Singapore; Central Banks; Singapore; Monetary Policy; Fintech (search for similar items in EconPapers)
JEL-codes: E44 E5 E58 E6 F45 (search for similar items in EconPapers)
Date: 2021
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