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Government intervention in the economy: a comparative analysis of Singapore and Hong Kong
Singapore and Hong Kong are very different and yet very similar in many respects. A study of their current profiles and historical development indicates that the two have achieved comparable economic successes through different development strategies. After World War II, Singapore gained political i...
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Published in: | Public administration and development 2000-12, Vol.20 (5), p.397-421 |
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description | Singapore and Hong Kong are very different and yet very similar in many respects. A study of their current profiles and historical development indicates that the two have achieved comparable economic successes through different development strategies. After World War II, Singapore gained political independence while Hong Kong achieved economic restructuring. The Singapore government adopted an interventionist approach to develop its economy, while the Hong Kong government followed the laissez‐faire principle. However, as the two were maturing socially and economically in the last few decades, both governments found the necessity to adopt a hybrid strategy of mixing economic interventions with the free‐market approach. An examination of public finance and economic policies since the onset of the Asian economic turmoil shows that the two have become increasingly similar in their economic approaches, with heavy emphasis on stabilizing the economy and stimulating business activities through government initiatives. Based on their projected economic, social and political development, the Hong Kong government is expected to become more interventionist while its Singapore counterpart is expected to go in the opposite direction. The economic development strategies of the two governments, coming from two extremes, will become more alike in the foreseeable future, for reasons of political feasibility in the former. Copyright © 2000 John Wiley & Sons, Ltd. |
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K.</creator><creatorcontrib>Lam, Newman M. K.</creatorcontrib><description>Singapore and Hong Kong are very different and yet very similar in many respects. A study of their current profiles and historical development indicates that the two have achieved comparable economic successes through different development strategies. After World War II, Singapore gained political independence while Hong Kong achieved economic restructuring. The Singapore government adopted an interventionist approach to develop its economy, while the Hong Kong government followed the laissez‐faire principle. However, as the two were maturing socially and economically in the last few decades, both governments found the necessity to adopt a hybrid strategy of mixing economic interventions with the free‐market approach. An examination of public finance and economic policies since the onset of the Asian economic turmoil shows that the two have become increasingly similar in their economic approaches, with heavy emphasis on stabilizing the economy and stimulating business activities through government initiatives. Based on their projected economic, social and political development, the Hong Kong government is expected to become more interventionist while its Singapore counterpart is expected to go in the opposite direction. The economic development strategies of the two governments, coming from two extremes, will become more alike in the foreseeable future, for reasons of political feasibility in the former. Copyright © 2000 John Wiley & Sons, Ltd.</description><identifier>ISSN: 0271-2075</identifier><identifier>EISSN: 1099-162X</identifier><identifier>DOI: 10.1002/pad.136</identifier><identifier>CODEN: PADEDR</identifier><language>eng</language><publisher>Chichester, UK: John Wiley & Sons, Ltd</publisher><subject>Comparative analysis ; Comparative politics ; Comparative studies ; Crossnational Analysis ; Development Strategies ; Economic Development ; Economic growth ; Economic Systems ; Economics ; Fiscal Policy ; GDP ; Government ; Gross Domestic Product ; Historical analysis ; History ; Hong Kong ; Intervention ; Laissez-faire ; Manufacturing ; Political development ; Politics ; Population growth ; Public Finance ; Retailing industry ; Singapore ; State intervention</subject><ispartof>Public administration and development, 2000-12, Vol.20 (5), p.397-421</ispartof><rights>Copyright © 2000 John Wiley & Sons, Ltd.</rights><rights>Copyright (C) 2000 John Wiley & Sons, Ltd.</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c3606-7b49c15cf9450cac8fa7be4cf725a26a74518284df3442fa794d663c6b6692603</citedby><cites>FETCH-LOGICAL-c3606-7b49c15cf9450cac8fa7be4cf725a26a74518284df3442fa794d663c6b6692603</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://www.proquest.com/docview/216179838?pq-origsite=primo$$EHTML$$P50$$Gproquest$$H</linktohtml><link.rule.ids>314,780,784,11688,11906,12846,12847,21387,21394,21395,27866,27924,27925,30999,31000,33223,33224,33611,33612,33985,33986,34530,34531,36050,36051,36060,36061,43733,43948,44115,44361,44363</link.rule.ids></links><search><creatorcontrib>Lam, Newman M. K.</creatorcontrib><title>Government intervention in the economy: a comparative analysis of Singapore and Hong Kong</title><title>Public administration and development</title><addtitle>Public Admin. Dev</addtitle><description>Singapore and Hong Kong are very different and yet very similar in many respects. A study of their current profiles and historical development indicates that the two have achieved comparable economic successes through different development strategies. After World War II, Singapore gained political independence while Hong Kong achieved economic restructuring. The Singapore government adopted an interventionist approach to develop its economy, while the Hong Kong government followed the laissez‐faire principle. However, as the two were maturing socially and economically in the last few decades, both governments found the necessity to adopt a hybrid strategy of mixing economic interventions with the free‐market approach. 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Copyright © 2000 John Wiley & Sons, Ltd.</description><subject>Comparative analysis</subject><subject>Comparative politics</subject><subject>Comparative studies</subject><subject>Crossnational Analysis</subject><subject>Development Strategies</subject><subject>Economic Development</subject><subject>Economic growth</subject><subject>Economic Systems</subject><subject>Economics</subject><subject>Fiscal Policy</subject><subject>GDP</subject><subject>Government</subject><subject>Gross Domestic Product</subject><subject>Historical analysis</subject><subject>History</subject><subject>Hong Kong</subject><subject>Intervention</subject><subject>Laissez-faire</subject><subject>Manufacturing</subject><subject>Political development</subject><subject>Politics</subject><subject>Population growth</subject><subject>Public Finance</subject><subject>Retailing industry</subject><subject>Singapore</subject><subject>State intervention</subject><issn>0271-2075</issn><issn>1099-162X</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2000</creationdate><recordtype>article</recordtype><sourceid>7QJ</sourceid><sourceid>7TQ</sourceid><sourceid>8BJ</sourceid><sourceid>ALSLI</sourceid><sourceid>DPSOV</sourceid><sourceid>HEHIP</sourceid><sourceid>M0C</sourceid><sourceid>M2L</sourceid><sourceid>M2S</sourceid><sourceid>7UB</sourceid><recordid>eNqF0U1v1DAQBmALgcRSEH_BAgkOKMWfY5tb1cIuouIbCifL63VK2sQOdnZh_z2ugjggVb2MZ8aPfPCL0ENKDikh7PnoNoeUwy20oMSYhgL7dhstCFO0YUTJu-heKReEVGvUAn1fpl3IcQhxwl2cQt7VrkuxDnj6EXDwKaZh_wI77NMwuuymbhewi67fl67g1OJPXTx3Y8pX2w1epXiO39RyH91pXV_Cg7_nAfry6uXn41Vz-m75-vjotPEcCDRqLYyn0rdGSOKd161T6yB8q5h0DJwSkmqmxablQrB6acQGgHtYAxgGhB-gJ_O7Y04_t6FMduiKD33vYkjbYoFIrbW5GUoFErQWN0JuCBGE0Qof_Qcv0jbXrymWUaDKaK4renwdoqC5oQooVPV0Vj6nUnJo7Zi7weW9pcRe5WprrrbmWuWzWf7q-rC_jtn3RyezbmbdlSn8_qddvrSguJL27O3Snnz9aM40_2BX_A9dJ7A_</recordid><startdate>200012</startdate><enddate>200012</enddate><creator>Lam, Newman M. 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The economic development strategies of the two governments, coming from two extremes, will become more alike in the foreseeable future, for reasons of political feasibility in the former. Copyright © 2000 John Wiley & Sons, Ltd.</abstract><cop>Chichester, UK</cop><pub>John Wiley & Sons, Ltd</pub><doi>10.1002/pad.136</doi><tpages>25</tpages></addata></record> |
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subjects | Comparative analysis Comparative politics Comparative studies Crossnational Analysis Development Strategies Economic Development Economic growth Economic Systems Economics Fiscal Policy GDP Government Gross Domestic Product Historical analysis History Hong Kong Intervention Laissez-faire Manufacturing Political development Politics Population growth Public Finance Retailing industry Singapore State intervention |
title | Government intervention in the economy: a comparative analysis of Singapore and Hong Kong |
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