Singapore: Selected Issues

International Monetary Fund

No 1999/035, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; bond market; banking sector; bank disclosure; market share; foreign direct investment; excess demand; Real exchange rates; Exports; Financial sector; Export performance; Foreign direct investment; Global (search for similar items in EconPapers)
Pages: 25
Date: 1999-05-05
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Citations: View citations in EconPapers (3)

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