Hong Kong and Singapore

American Journal of Economics and Sociology

Volumn 59, Issue SUPPL. 5, 2000, Pages 337-352

  Phang, Sock Yong ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0034355432     PISSN: 00029246     EISSN: None     Source Type: Journal    
DOI: 10.1111/1536-7150.00102     Document Type: Article

References (22)

1. Alain Bertaud and Bertrand Renaud. "Cities Without Land Markets: Location and Land Use in die Socialist City" (World Bank Policy Research Working Paper 1477, 1995). See also Yu-Hung Hong, "Myths and Realities of Public Land Leasing: Canberra and Hong Kong," Landlines, newsletter of the Lincoln Institute of Land Policy (March 1999); and Sock-Yong Phang, "Urban Transportation and Land Regulations in Singapore," a paper prepared for the World Bank's World Development Report 1999/2000 workshop, February, 1999.
2. Alain Bertaud and Bertrand Renaud. "Cities Without Land Markets: Location and Land Use in die Socialist City" (World Bank Policy Research Working Paper 1477, 1995). See also Yu-Hung Hong, "Myths and Realities of Public Land Leasing: Canberra and Hong Kong," Landlines, newsletter of the Lincoln Institute of Land Policy (March 1999); and Sock-Yong Phang, "Urban Transportation and Land Regulations in Singapore," a paper prepared for the World Bank's World Development Report 1999/2000 workshop, February, 1999.
3. Alain Bertaud and Bertrand Renaud. "Cities Without Land Markets: Location and Land Use in die Socialist City" (World Bank Policy Research Working Paper 1477, 1995). See also Yu-Hung Hong, "Myths and Realities of Public Land Leasing: Canberra and Hong Kong," Landlines, newsletter of the Lincoln Institute of Land Policy (March 1999); and Sock-Yong Phang, "Urban Transportation and Land Regulations in Singapore," a paper prepared for the World Bank's World Development Report 1999/2000 workshop, February, 1999.
4. Gordon N. Cruden, Land Compensation and Valuation Law in Hong Kong (Singapore: Butterworths, 1986), chapter 1 for details.
5. Hong Kong Government, Hong Kong-A New Era (Hong Kong: Government Printer, 1998), pp. 62.
6. Cruden, chapter 18 on Town Planning.
7. Cruden, chapter 21 for details of the provisions for land leases under the Joint Declaration.
8. See Yu-Hung Hong, op. cit., and "Can Leasing Public Land be an Alternative Source of Local Public Finance?" Working paper issued by the Lincoln Institute of Land Policy, Cambridge, MA, 1996.
9. Tax rates are for 1997 and further details may be found in Hong Kong Government, op. cit., pp. 61-63.
10. Ibid, p. 181-190.
11. P. Sai-wing Ho, "A Ricardian interpretation of the provision of public housing services in Hong Kong", Cambridge Journal of Economics (June 1996), pp. 207-225; and M. Castells, L. Goh, and R. Y. W. Kwok, The Shek Kip Mei Syndrome: Economic Development and Public Housing in Hong Kong and Singapore (London, UK: Pion Limited, 1990)
12. P. Sai-wing Ho, "A Ricardian interpretation of the provision of public housing services in Hong Kong", Cambridge Journal of Economics (June 1996), pp. 207-225; and M. Castells, L. Goh, and R. Y. W. Kwok, The Shek Kip Mei Syndrome: Economic Development and Public Housing in Hong Kong and Singapore (London, UK: Pion Limited, 1990)
13. F. T. Hodgkiss, "Raffles of Singapore," The Freeman, March, 1942; A. R. Hutchinson, "Sir Stamford Raffles in Indonesia," Progress (Melbourne), February, 1968; Robert V. Andelson and James M. Dawsey, From Wasteland to Promised Land (Maryknoll, NY.: Orbis Books/London: Shepheard-Walwyn, 1992), p. 95.
14. F. T. Hodgkiss, "Raffles of Singapore," The Freeman, March, 1942; A. R. Hutchinson, "Sir Stamford Raffles in Indonesia," Progress (Melbourne), February, 1968; Robert V. Andelson and James M. Dawsey, From Wasteland to Promised Land (Maryknoll, NY.: Orbis Books/London: Shepheard-Walwyn, 1992), p. 95.
15. F. T. Hodgkiss, "Raffles of Singapore," The Freeman, March, 1942; A. R. Hutchinson, "Sir Stamford Raffles in Indonesia," Progress (Melbourne), February, 1968; Robert V. Andelson and James M. Dawsey, From Wasteland to Promised Land (Maryknoll, NY.: Orbis Books/London: Shepheard-Walwyn, 1992), p. 95.
16. nd ed.; Singapore: Butterworths, 1995), p. 6 and 11.
17. RS. J. Braddell, The Law of the Straits Settlements (Kuala Lumpur: Oxford University Press, 1982), p. 53.
18. Ibid., p. 18.
19. There is a capital gains tax for certain transactions involving the sale of subsidized housing built by the public sector. From May 15, 1996, capital gains from all properties sold within three years after they were purchased are subject to income tax. Additional stamp duty is also levied on the seller of such properties.
20. Taxes and charges associated with car ownership include an import tax, registration fees, annual road taxes, and a Certificate Of Entitlement (COE) which is required for the registration of any new vehicle. A COE may be obtained in a public tender for a predetermined quota which is held each month. The COE is valid for a period of ten years. In 1998, an electronic road pricing system comprising electronic gantries, vehicle transponders and pre-paid cash cards replaced the previous manually enforced paper license (on windscreen) system.
21. Chong-Yah Lim et. al., Policy Options for the Singapore Economy (Singapore: McGraw Hill, 1988), p. 258.
22. Since 1988, Singapore's gross national saving has exceeded gross capital formation. This is partly a result of persistent and large budget surpluses as well as a high rate of compulsory savings. In 1995, gross national saving was 50.8 percent of GNP and gross fixed capital formation was 33.4 percent of GNP. Since Singapore has become a net lender to the rest of the world, the government has adopted an industrial strategy of providing tax incentives for firms to invest overseas. For details on the various tax incentives, see Ministry of Trade and Industry, Singapore, Economic Survey of Singapore, 1993 (Singapore: SNP Publishers, 1994), pp. 44-45.