Showing 4746 Documents for "recognised market operator"
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- MAS Occasional Paper No. 3 December 1997 - By External Economies Division, Economics Department Part I: Is the Renminbi Fairly Valued? Motivation 1 Is the renminbi undervalued or overvalued? This question has perplexed analysts because of conflicting signals from the economy. Since the exchange reform of Jan 94, the renminbi has appreciated in real terms against the dollar reflecting the high inflation. This gave rise to concerns that the renminbi was becoming overvalued, thereby eroding
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- Notices
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- Rules for banks when granting residential property loans to individuals and non-individuals. This notice applies to all banks in Singapore. It sets out the rules for banks to comply with when granting residential property loans, including limits on loan amount, conditions for loans, and tenure of credit and refinancing facilities. See also: Press release: Raising Additional Buyer's Stamp Duty Rates and Tightening Loan-to-Value Limits to Promote a Stable and Sustainable Property Market Rules for New
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- MAS Occasional Paper No. 14 June 1999 - By Domestic Economy Division, Economics Department Executive Summary 1 Petrochemicals play an important role in the modern world: they are essential for the production of a diverse set of products, such as synthetic fibres and rubbers, plastics and resins, solvents and paints, explosives, and many more. In Singapore, the petrochemical industry is one of the fastest growing industries, fuelled by rapid economic development in the East Asia. It has strong
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- MAS Occasional Paper No. 20 May 2000 - By Financial Market Integration in Singapore Executive Summary 1 As an integral part of its development strategy, Singapore has maintained an open capital (as well as current) account, in which there is virtually no restriction on movements of portfolio capital and direct investment. The paper is concerned with evaluating the extent to which the liberal exchange control regime has led to, from an economic stand point, a perfect integration of the Singapore financial
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- MAS Occasional Paper No. 13 May 1999 - By Financial and Special Studies Division, Economics Department Executive Summary 1 This paper evaluates the relative proportions of the bias in exchange rate forecasts attributed to expectation error and a time-varying risk premium, using monthly survey data for the Malaysian Ringgit, the Indonesian Rupiah, the Philippine Peso and the Thai Baht over the period December 1996 to December 1998 as a direct measure of exchange rate expectations. 2
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- MAS Occasional Paper No. 1 May 1997 - By External Economies Division, Economics Department 1 Strong economic growth in the ASEAN-3 countries since the late 1980s has led to rising inflation and widening current account deficits as excess domestic demand spills over into imports. Malaysia, Thailand, and Indonesia experienced a worsening of their current accounts in the 1990s, culminating in a marked deterioration in 1995. Malaysia's and Thailand's current account deficits reached 8% of GDP
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- MAS Occasional Paper No. 6 May 1998 - By Domestic Economy Division, Economics Department Executive Summary 1 This paper provides an empirical examination of the behaviour of exchange rates in Singapore. The analysis is in two main parts. 2 First, Section 2 of the paper reviews the alternative measures of the real effective exchange rate (REER). Three measures of the REER are evaluated, based on different deflators, namely relative consumer price indices (CPI's), wholesale price
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- MAS Occasional Paper No. 21 December 2000 - By Financial & Special Studies Division, Economics Department Executive Summary 1 The paper investigates the impact of the switch in the exchange rate regimes after the East Asian financial crisis on the conduct of monetary policy in Korea, Indonesia, Malaysia, and Thailand. Korea, Indonesia, and Thailand, which came under the IMF-supported programmes during the crisis, have adopted a more flexible post-crisis exchange rate regime and a monetary policy
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- MAS Occasional Paper No. 7 August 1998 - By Domestic Economy Division, Economics Department 1 Singapore's international trade has experienced rapid growth over the last three decades, averaging 14% p.a. during 1965-1997. Despite the vital role played by external trade in Singapore's economic development, there has been relatively little analysis on the dynamics of its trade linkages with major trading partners. Using the technique of trade intensity analysis, this paper examines Singapore's
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- MAS Occasional Paper No. 8 October 1998 - By External Economies Division, Economics Department Main Conclusions Since the Asian currency crisis erupted in Jul 97, there has been incessant speculation that China would be forced to devalue the renminbi, because China's exports would become less price- competitive compared to exports of the regional countries. However, this "price effect" is only one aspect of the Asian crisis on China. There is also an "income effect" on China if the devaluation leads