Rationing Rules and Outcomes: The Experience of Singapore's Vehicle Quota System
AbstractSince 1990, Singapore has sought to control motor vehicle ownership by means of an auction quota system, whereby prospective vehicle buyers need to obtain a quota license before they can make their purchase. This paper assesses the success of the vehicle quota system in meeting its objectives of stability in motor vehicle growth, flexibility in the motor vehicle mix, and equity among motor vehicle buyers. Two important implementation issues-quota subcategorization and license transferability-are highlighted, and policy lessons are drawn for the design of auction quotas in general.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 01/136.
Date of creation: 01 Sep 2001
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Other versions of this item:
- Ling Hui Tan, 2003. "Rationing Rules and Outcomes: The Experience of Singapore's Vehicle Quota System," IMF Staff Papers, Palgrave Macmillan, vol. 50(3), pages 5.
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- D45 - Microeconomics - - Market Structure and Pricing - - - Rationing; Licensing
- R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy
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