This book is an annual effort by the economists from the Nanyang Technological University to provide analysis, interpretations and insights on contemporary economic issues affecting Singapore.In 2010, Singapore's economy was just recovering from the sharp economic downturn in 2008/09 caused by the Global Financial Crisis. The global economic outlook in the short and medium term remained uncertain and the risk of another economic or financial crisis remains high. Thus, one of the key themes of this book is to study economic crises and financial crises, and the policy measures that are available to manage them.Looking ahead, in order to ensure long term growth and prosperity for Singapore's economy, microeconomic policy adjustments and fine-tuning is still needed to build a competitive and resilient nation. Therefore, the second key theme of the book is to review several public policies in Singapore, such as competition, healthcare, training, free trade agreements, state capitalism and inequality.
Economic Crisis Management: The National Wages Council (NWC) and Macroeconomic Management in Singapore (C Y Lim); Unpreparedness in the Great Recession (C Y Lim & H Y Sng); Why are Financial Crises so Costly? (K H Tan); A Case for Selective Capital Control (C Y Lim & S Chan); Public Policies and Other Economic Issues: Competition Policy and Law in Singapore (C L Lam); Healthcare: Containing Cost without Comprising Quality (H M L Tan & S B Chew); Economics of Training: Market Failure and Government Intervention (R Chew); A Review of the US-Singapore Free Trade Agreement (Y H Chee & W M Chia); State Capitalism in Singapore (H Y Sng); Growth, Opportunity, and Inequality: Some Empirics from Singapore (K W Ho); A Fine City without the Fines? Beyond Rational Self-Interest in the Pursuit of Public Policy (W E Theseira).