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An Alternative Tale of Two Cities

Tang, Yih P. and Lovell, Knox (1999) An Alternative Tale of Two Cities. In: Economic Efficiency and Productivity Growth in the Asia Pacific Region. Edward Elgar , U.K, pp. 23-41. ISBN 978-1858988573

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This article briefly reviews various competing interpretations of the recent economic performances of Hong Kong and Singapore. We conduct a backward-looking evaluation of the quality of macroeconomic management these two city-states have enjoyed. We find evidence that the Singapore interventionist approach has been just as effective as the Hong Kong hands-off approach, although we also find that neither approach has been as effective as that of Taiwan. Additionally, we conduct a forward-looking evaluation of the quality of macroeconomic management in the two city-states as they position themselves for the 21st century. The results of this evaluation indicate that despite certain shortcomings, Hong Kong appears much better prepared than Singapore for continued rapid economic growth in the near future.

Item Type: Book Chapter
Uncontrolled Keywords: Productivity growth, Sources of productivity growth, Efficiency change, Technical Change, Scale effect, Stochastic frontier analysis, Economic growth
Subjects: H Social Sciences > HA Statistics
H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Business and Economics (FBE) > School of Accounting and Finance
Depositing User: Yih Tang
Date Deposited: 07 May 2015 05:12
Last Modified: 21 May 2015 22:43

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