This book is an annual effort by the economists at the Nanyang Technological University to provide analysis, interpretations and insights of contemporary economic issues affecting Singapore and Asia. It covers two key themes: (1) Global Financial Tsunami and (2) other economic issues affecting Singapore and Asia.The Global Financial Tsunami is currently ravaging the world financial systems and the world economy. The authors brilliantly tackle pertinent issues such as fiscal and monetary management of the current crisis, impacts of the crisis on the Singapore and Asian economies, policy measures implemented by Singapore and other countries to combat the crisis, and regional efforts to mitigate the adverse impacts of the crisis.A wide range of important economic issues affecting Singapore and Asia, including inflation, exchange rate, workfare, environmental economics, population and worth of human life in Singapore are addressed competently. The chapters build on economic and analytical frameworks to help readers better understand the economic and policy issues discussed.
Monetary and Fiscal Management and the Current Global Financial Crisis; The Surprising Resurgence of Fiscal Policy; Global Financial Tsunami: Can the Old Tool Still Work for Singapore?; The Global Financial Tsunami: Implications for the Asian Economies; The On-going Global Financial Crisis and Asian Regionalism; Crisis Identification, Remedies and Management in Singapore; Inflation, Exchange Rate and the Singapore Economy: A Policy Simulation; Workfare, Not Welfare: An Exploration on International Experiences and Policy Implications for Singapore; What's Human Life Worth?; Singapore's Future Population: Some implications of Scenarios to 2050; Oil, Economy and the Environment; Is the Environment a Game? Game Theoretical Analysis of the Kyoto Protocol.