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Government Fiscal Behavior And Economic Growth Of Singapore In The Twentieth Century

Author

Listed:
  • ICHIRO SUGIMOTO

    (Faculty of Economics, Soka University, Tokyo, Japan)

  • EU CHYE TAN

    (Faculty of Economics and Administration, University of Malaya, Kuala Lumpur, Malaysia)

Abstract

This paper reviews the trends in the government fiscal structure and explores the possible relationships between government fiscal expenditure and economic growth in Singapore over the 20th century. It is a reasonable conjecture that the government fiscal behavior and in particularvis-à-viseconomic growth had undergone a significant shift as Singapore switched from British colonial rule to self-government. The paper first traces out the characteristics of the colonial government fiscal behavior and compares them with those during the period of self-government in terms of sources and uses of revenue and fiscal balance. This is then followed by econometric exercises to ascertain whether the government fiscal expenditure responds to income movements broadly in the spirit of Wagner's law in 1900–1939 and 1966–2000. Generally, attention is focused upon inter-temporal similarities and differences.

Suggested Citation

  • Ichiro Sugimoto & Eu Chye Tan, 2011. "Government Fiscal Behavior And Economic Growth Of Singapore In The Twentieth Century," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 56(01), pages 19-40.
    • Handle: RePEc:wsi:serxxx:v:56:y:2011:i:01:n:s0217590811004079
    DOI: 10.1142/S0217590811004079
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    References listed on IDEAS

    as
    1. Pesaran, M.H. & Shin, Y., 1995. "An Autoregressive Distributed Lag Modelling Approach to Cointegration Analysis," Cambridge Working Papers in Economics 9514, Faculty of Economics, University of Cambridge.
    2. Pesaran, M. H. & Shin, Y. & Smith, R. J., 1996. "Testing for the 'Existence of a Long-run Relationship'," Cambridge Working Papers in Economics 9622, Faculty of Economics, University of Cambridge.
    3. Tanzi,Vito & Schuknecht,Ludger, 2000. "Public Spending in the 20th Century," Cambridge Books, Cambridge University Press, number 9780521662918.
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    Cited by:

    1. Soo Ann Lee, 2015. "Governance And Economic Change In Singapore," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 60(03), pages 1-15.

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    More about this item

    Keywords

    Budget growth; Wagner's law; E62; E69; H60;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E69 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Other
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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