The Rise of Singapore as International Financial Centre : Political Will, Industrial Policy, and Rule of Law

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review

3 Scopus Citations
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Author(s)

Detail(s)

Original languageEnglish
Title of host publicationFinance, Rule of Law and Development in Asia
Subtitle of host publicationPerspectives from Singapore, Hong Kong and Mainland China
EditorsJiaxiang Hu, Matthias Vanhullebusch, Andrew Harding
PublisherBrill Academic Publishers
Chapter1
Pages3-17
ISBN (Electronic)9789004315815
ISBN (Print)9789004315808
Publication statusPublished - 12 May 2016
Externally publishedYes

Publication series

NameSilk Road Studies in International Economic Law
PublisherBrill Academic Publishers
Volume3
ISSN (Print)2352-5681

Abstract

Singapore is now one of the leading financial centres in the world, although the citystate started as a Third World country when independence was imposed on it in 1965. Although some natural conditions such as geographic location which possessed by other international financial centres are also vivid in Singapore's case, some factors that contributed to Singapore's financial rise are probably unique. This chapter argues that three key factors underpin Singapore's success as a financial centre, which are the political will of the Singapore government, the government's skilful use of industry policy, and the uncompromised practice of the rule of law in Singapore. These factors, taken together, made a state-led development model in the formation and maintenance of an international financial centre, Singapore style. From the perspective of law and development, Singapore's path to the status of an international financial centre raises the question about the relationship between state and finance.

Research Area(s)

  • Financial industrial policy, International financial centre, Rule of law, Singapore, State and finance

Citation Format(s)

The Rise of Singapore as International Financial Centre : Political Will, Industrial Policy, and Rule of Law. / Wang, Jiangyu.

Finance, Rule of Law and Development in Asia: Perspectives from Singapore, Hong Kong and Mainland China. ed. / Jiaxiang Hu; Matthias Vanhullebusch; Andrew Harding. Brill Academic Publishers, 2016. p. 3-17 (Silk Road Studies in International Economic Law; Vol. 3).

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review