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International Relations: Politics, Economics, Law

Article Title

Macroeconomic Policy and Competitiveness of Economy: Singapore’s Experience

Abstract

The paper investigates the relationship between macroeconomic policy and the competitiveness of the economy. The paper describes the impact of monetary and fiscal policies on the national competitiveness and provides a comparative analysis of the positions of countries in the Global Competitiveness Index and The Index of Economic Freedom using certain macroeconomic indicators. The paper describes the features of the monetary and fiscal policy of Singapore and analyses their impact on the competitiveness of the economy. Author concludes that the international competitiveness of Singapore is determined by the high quality of human capital, developed infrastructure, the quality of institutions, and a high degree of connectivity with the world's leading economies.

First Page

22

Last Page

38

References

1. Указ Президента Республики Узбекистан «О Стратегии действий по дальнейшему развитию Республики Узбекистан» от 7 февраля 2017 года № УП-4947. https://lex.uz/docs/3107042 2. Porter M., Delgado M., Ketels Ch., Stern S. Moving to a New Global Competitiveness Index. The Global Competitiveness Report 2008-2009, World Economic Forum. P. 44. 3. Портер М., Кетелс К., Дельгадо М., Брайден Р. Конкурентоспособность на распутье: направления развития российской экономики. С. 6. 4. Porter M., Delgado M., Ketels Ch., Stern S. Moving to a New Global Competitiveness Index // The Global Competitiveness Report 2008-2009, World Economic Forum. P. 46. 5. Liu C. (2017). International Competitiveness and the Fourth Industrial Revolution. Entrepreneurial Business and Economics Review, 5(4), 111-133. Р. 119. http://doi.org/10.15678/EBER.2017.050405 6. Porter M., Delgado M., Ketels Ch., Stern S. Moving to a New Global Competitiveness Index. The Global Competitiveness Report 2008-2009, World Economic Forum. P. 46. 7. Vietor R., & Weinzier, M.C. (2012). Macroeconomic policy and U.S. competitiveness. Harvard Business Review, 90(3). Р. 2. 8. Claus Schwab, The global Competitiveness Report, 2019, World Economic Forum, p. 13. 9. Schwab Claus. The global Competitiveness Report, 2019, World Economic Forum. 10. Указ. раб. 11. Miller T., Kim A.B., Roberts J.M. 2019 Index of Economic Freedom, 25th Anniversary Edition, Heritage Foundation, 2019. – Washington D.C., USA. Р. 459. 12. Там же, с. 17. 13. Miller T., Kim A.B., Roberts J.M. 2019 Index of Economic Freedom, 25th Anniversary Edition, Heritage Foundation, 2019. – Washington D.C., USA. Р. 18. 14. Miller T., Kim A.B., Roberts J.M. Cit. op. 15. Miller T., Kim A.B., Roberts J.M. Cit. op. 16. FAQs on Singapore’s Monetary Policy Framework. Monetary Authority of Singapore, Economic Policy Group. P. 9. 17. Singapore’s Exchange Rate-Based Monetary Policy. Monetary Authority of Singapore. https://www.mas.gov.sg/-/media/MAS/Monetary-Policy-and-Economics/Monetary-Policy/MP-Framework/Singapores-Exchange-Ratebased-Monetary-Policy.pdf 18. FAQs on Singapore’s Monetary Policy Framework. Monetary Authority of Singapore, Economic Policy Group. P. 12. 19. FAQs on Singapore’s Monetary Policy Framework. Monetary Authority of Singapore, Economic Policy Group. P. 14. 20. FAQs on Singapore’s Monetary Policy Framework. Monetary Authority of Singapore, Economic Policy Group. P. 6. 21. https://www.mas.gov.sg/bonds-and-bills/investing-in-singapore-government-securities/Singapores-Economy/Singapores-Fiscal-Policy 22. Donald Low. Fiscal management in Singapore https://lkyspp.nus.edu.sg/docs/default-source/gia-documents/fiscal-management-in-singapore_with-graphics-july.pdf?sfvrsn=1f4b6c0a_2

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