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Currency Speculation and the Optimum Control of Bank Lending in Singapore Dollar: A Case for Partial Liberalisation


Author Info

  • Kenneth S. Chan
  • Kee-Jin Ngiam
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    The monetary Authority of Singapore (MAS) has a policy of controlling bank lending in Singapore dollars to non-residents and residents outside Singapore. One of the objectives of this MAS policy is to discourage speculation against the Singapore dollar in times of currency crisis. The present paper reviews and suggests improvement of this MAS policy with other tax schemes in the literature such as the Tobin Tax, the Spahn Tax and the Eichengreen Tax in the market for foreign exchange.

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    Bibliographic Info

    Paper provided by McMaster University in its series Quantitative Studies in Economics and Population Research Reports with number 321.

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    Length: 25 pages
    Date of creation: Oct 1996
    Date of revision:
    Handle: RePEc:mcm:qseprr:321

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    Related research

    Keywords: bank lending; currency speculation; currency crisis; foreign exchange market;

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