Publication Type

Book Chapter

Version

acceptedVersion

Publication Date

1-2019

Abstract

This chapter reviews the financial development strategies adopted by the Singapore government as it navigates internal and external changes to build a vibrant center of finance in the Asia Pacific region. Sections 2 and 3 provide an overview of the structure of the financial system and the financial governance framework respectively. This is followed by a discussion, in Section 4, on the outward looking development strategy that underpinned the successful development of Singapore’s financial sector. Section 5 highlights the reforms undertaken in the aftermath of the Asian financial crisis that led to the building of a well-diversified and thriving international financial center. We conclude in Section 6 with the challenges Singapore faces in the new global financial landscape.

Keywords

Financial industry, financial governance, financial crisis, government policy, Singapore

Discipline

Asian Studies | Finance | Finance and Financial Management

Research Areas

Macroeconomics

Publication

Routledge Handbook on Banking and Finance in Asia

Editor

U. Volz, Ulrich; P. J. Morgan, & N. Yoshin

First Page

165

Last Page

178

ISBN

9781138685406

Identifier

10.4324/9781315543222-10

Publisher

Asian Development Bank Institute and Routledge

City or Country

New York

Copyright Owner and License

Authors

Additional URL

https://doi.org/10.4324/9781315543222-10

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