Singapore's exchange rate management system
Traditionally, in an era of limited capital mobility, where the domestic financial markets were still relatively undeveloped, the Monetary Authority of Singapore (MAS) relied on direct control measures as main instruments of monetary policy. From 1965 to the early 1970s, monetary control policies...
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| Format: | Case Study |
| Language: | English |
| Published: |
2013
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| Online Access: | https://hdl.handle.net/10356/100073 http://hdl.handle.net/10220/13570 http://www.asiacase.com/case/ntuAbcc/sgExchange.html |
| _version_ | 1826111569345380352 |
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| author | Maysami, Ramin Cooper Tan, Shirley |
| author2 | Nanyang Business School |
| author_facet | Nanyang Business School Maysami, Ramin Cooper Tan, Shirley |
| author_sort | Maysami, Ramin Cooper |
| collection | NTU |
| description | Traditionally, in an era of limited capital mobility, where the domestic financial markets were still relatively undeveloped, the Monetary Authority of Singapore (MAS) relied on direct control measures as main instruments of monetary policy.
From 1965 to the early 1970s, monetary control policies were mainly targeted to reduce growth in bank deposits and limit the availability of foreign assets in domestic banks. In the late 1970s, the traditional instruments of monetary policies - interest rate regulations and direct capital controls - were found to be incompatible with the overall economic thrust of developing a global and sophisticated financial centre in Singapore. Since 1981, MAS had formulated a unique exchange rate policy to achieve the ultimate target of low inflation. This case documents the evolution of Singapore's monetary policy over the last three decades and allows students to explore the reasons and possible consequences of this monetary policy.
Period covered 1965 – 2003 |
| first_indexed | 2024-10-01T02:52:34Z |
| format | Case Study |
| id | ntu-10356/100073 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T02:52:34Z |
| publishDate | 2013 |
| record_format | dspace |
| spelling | ntu-10356/1000732023-05-19T06:44:43Z Singapore's exchange rate management system Maysami, Ramin Cooper Tan, Shirley Nanyang Business School Monetary Authority of Singapore Asian Business Case Centre DRNTU::Business::Finance::Monetary policy Traditionally, in an era of limited capital mobility, where the domestic financial markets were still relatively undeveloped, the Monetary Authority of Singapore (MAS) relied on direct control measures as main instruments of monetary policy. From 1965 to the early 1970s, monetary control policies were mainly targeted to reduce growth in bank deposits and limit the availability of foreign assets in domestic banks. In the late 1970s, the traditional instruments of monetary policies - interest rate regulations and direct capital controls - were found to be incompatible with the overall economic thrust of developing a global and sophisticated financial centre in Singapore. Since 1981, MAS had formulated a unique exchange rate policy to achieve the ultimate target of low inflation. This case documents the evolution of Singapore's monetary policy over the last three decades and allows students to explore the reasons and possible consequences of this monetary policy. Period covered 1965 – 2003 2013-09-20T03:19:26Z 2019-12-06T20:16:13Z 2013-09-20T03:19:26Z 2019-12-06T20:16:13Z 2003 2003 Case Study Maysami, R. C., & Tan, S. (2003). Singapore's Exchange Rate Management System. Singapore: The Asian Business Case Centre, Nanyang Technological University. https://hdl.handle.net/10356/100073 http://hdl.handle.net/10220/13570 http://www.asiacase.com/case/ntuAbcc/sgExchange.html en © 2003 Nanyang Technological University, Singapore. 11 p. application/pdf |
| spellingShingle | DRNTU::Business::Finance::Monetary policy Maysami, Ramin Cooper Tan, Shirley Singapore's exchange rate management system |
| title | Singapore's exchange rate management system |
| title_full | Singapore's exchange rate management system |
| title_fullStr | Singapore's exchange rate management system |
| title_full_unstemmed | Singapore's exchange rate management system |
| title_short | Singapore's exchange rate management system |
| title_sort | singapore s exchange rate management system |
| topic | DRNTU::Business::Finance::Monetary policy |
| url | https://hdl.handle.net/10356/100073 http://hdl.handle.net/10220/13570 http://www.asiacase.com/case/ntuAbcc/sgExchange.html |
| work_keys_str_mv | AT maysamiramincooper singaporesexchangeratemanagementsystem AT tanshirley singaporesexchangeratemanagementsystem |