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Financial, Exchange Rate, and Wage Policies in Singapore, 1979-86

Author

Listed:
  • Ichiro Otani

    (International Monetary Fund)

  • Cyrus Sassanpour

    (International Monetary Fund)

Abstract

The unique aspects of Singapore's financial, exchange rate, and wage policies during the period 1979-86 are discussed. A simple short-term model is formulated and estimated, and various policy simulations conducted, to quantify the impact of alternative policies on major macroeconomic variables. It is found that the wage policy pursued by the authorities in the early 1980s played a significant role in influencing output and prices and that an appropriate wage policy is complementary to exchange rate policy in maintaining external competitiveness in Singapore.

Suggested Citation

  • Ichiro Otani & Cyrus Sassanpour, 1988. "Financial, Exchange Rate, and Wage Policies in Singapore, 1979-86," IMF Staff Papers, Palgrave Macmillan, vol. 35(3), pages 474-495, September.
    • Handle: RePEc:pal:imfstp:v:35:y:1988:i:3:p:474-495
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    Cited by:

    1. Ahmed, Sadiq & Ranjan, Priya, 1995. "Promoting growth in Sri Lanka : lessons from East Asia," Policy Research Working Paper Series 1478, The World Bank.
    2. Ping Wang & Tsz-Nga Wong & Chong K. Yip, 2018. "Institutional Barriers and World Income Disparities," Review, Federal Reserve Bank of St. Louis, vol. 100(3), pages 259-279.
    3. Bernhard Ozofere Ishioro, 2015. "The Long-Run Relationship between Foreign Reserves Inflows and Domestic Credit: Evidence from a Small Open Economy," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 11(2), pages 18-38, April.
    4. G. K. Randolph Tan, 2014. "The Relationship Between Employment And Earnings In Singapore: 1991–2012," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 59(03), pages 1-22.

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