Department of Economics

Faculty of Arts and Social Sciences


Singapore Centre for Applied and Policy Economics

Steering Committee
Working Papers
Newspaper Articles
Econometric Studies Unit
Housing Affordability in Singapore
Living Affordability in Singapore

SCAPE Policy Research Working Paper Series

2016/02 International Transmission of Growth Shocks
and the World Business Cycle
Shen Yifan and Tilak Abeysinghe
2016/01 Old-age dependency: Is it really increasing in aging populations? Tilak Abeysinghe
2015/01 Adding A Basic Pillar to the Central Provident Fund System: An Actuarial Analysis Chia Ngee Choon
2014/02 New Estimates of Time‐Varying Currency Betas: A trivariate BEKK approach Prabhath Jayasinghe, Albert K Tsui and Zhaoyong Zhang
2014/01 Income inequality in Singapore: Do housing prices play a role? Tilak Abeysinghe and Wong Yan Hao
2013/03 Conditional Heteroscedasticity With Leverage Effect In Stock Returns: Evidence From The Chinese Stock Market Ling Long, Albert Tsui and Zhaoyang Zhang
2013/02 Adequacy of Singapore's Central Provident Fund Payouts: Income Replacement Rates of Entrant Workers Chia Ngee Choon and Albert Tsui
2013/01 Estimating bubbles and affordable housing price trends: A study based on Singapore Tilak Abeysinghe and Jiaying Gu
2012/01 Outsourcing and Labour Productivity: Case of Singapore Manufacturing Sector Aekapol Chongvilaivan and Shandre M. Thangavelu
2011/01 Emission Trading Scheme in the Maritime Industry: An experimental analysis Anthony T H Chin and Thiam Hao Chua
2010/02 Carbon Emission Trading Scheme and The Aviation Sector: An experimental analysis on allocation of allowances Anthony T H Chin and Zhang Peng
2010/01 The Cultural Revolution, Stress and Cancer Tilak Abeysinghe and Jiaying Gu
2009/05 A Gaussian Test for Cointegration Tilak Abeysinghe and Gulasekaran Rajaguru
Measuring Asymmetry and Persistence in Conditional Volatility in Real Output: Evidence from Three East Asian Tigers Using a Multivariate GARCH approach
Vu Thanh Hai,
Albert K. Tsui and Zhaoyong Zhang
2009/03 Time-Varying Currency Betas:
Evidence from Developed and Emerging Markets
Prabhath Jayasinghe and Albert K. Tsui
2009/02 Does the IV estimator establish causality? Re-examining Chinese fertility-growth relationship Tilak Abeysinghe
and Gu Jiaying
2009/01 Monetizing Housing Equity to Generate Retirement Incomes Ngee-Choon Chia and Albert K C Tsui
2008/08 Alternative Approaches to the Development of Early Childhood Education in Singapore Yong Yik Wei, Aekapol Chongvilaivan, and Chew Jing Yang
2008/07 Lifetime Income and Housing Affordability in Singapore Tilak Abeysinghe and Jiaying Gu
2008/06 Feminization of Ageing and Long Term Care Financing in Singapore Chia Ngee Choon, Shawna Lim Shi'en and Angelique Chan
2008/05 Volatility Dynamics in Foreign Exchange Rates: Further Evidence from the Malaysian Ringgit and Singapore Dollar Kin-Yip Ho and Albert K Tsui
2008/04 Learning by Exporting and High-tech Capital Deepening in Singapore Manufacturing Industries, 1974-2006 Aekapol Chongvilaivan
2008/03 Economic Openness, Disciplined Government and Ethnic Peace Nava Ravi Kumaran and Tilak Abeysinghe
2008/02 Knowledge Flow in East Asia and Beyond Albert Guangzhou Hu
2008/01 Singapore's Direct Investment in Sri Lanka: Past Experience and Future Prospects Tilak Abeysinghe and Ananda Jayawickrama
2007/12 Do Banks Respond to Capital Requirement?  Evidence from Indonesia Rasyad A. Parinduri and Yohanes E. Riyanto
2007/11 Overlapping Free Trade Agreements of Singapore-USA-Japan: A Computational Analysis Soo Yuen Chong and Jung Hur
2007/10 Exchange Rate Exposure of Sectoral Returns and Volatilities: Evidence from Japanese Industrial Sectors Prabhath Jayasinghe and
Albert K. Tsui
2007/09 The effect of Strategic Sale of Banks: Evidence from Indonesia Rasyad A. Parinduri and Yohanes E. Riyanto
2007/08 Cross-Border M&A Inflows and the Quality of Institutions: A Cross Country Panel Data Analysis Jung Hur, Rasyad A. Parinduri and Yohanes E. Riyanto
2007/07 Exchange Rate Cooperation in East Asia - Why a Basket Approach may be best Peter Wilson
2007/06 Stochastic Dominance Analysis of iShares Dominic Gasbarro, Wing-Keung Wong and J. Kenton Zumwalt
2007/05 Stochastic Dominance and Mean-Variance Measures of Profit and Loss for Business Planning and Investment Wing-Keung Wong
2007/04 Singapore's Recurrent Budget Surplus The Role of Conservative Growth Forecasts Tilak Abeysinghe and Ananda Jayawickrama
2007/03 Premium on Fields of Study: The Returns to Higher Education in Singapore Yeo Khee Yong, Toh Mun Heng, Shandre M. Thangavelu and James Wong
2007/02 The Impact of Structured Training on Workers' Employability and Productivity Ang Boon Heng, Park Cheolsung, Liu Haoming, Shandre M. Thangavelu and James Wong
2007/01 Sustainability of Fiscal Deficits: The U.S. Experience 1929-2004 Ananda Jayawickrama and Tilak Abeysinghe
2006/15 Singapore Information Sector: A Study Using Input-Output Table Toh Mun Heng and Shandre M.Thangavelu
2006/14 Lessons from "Benchmark" Countries: Korea & Ireland Shandre M. Thangavelu and Hu Guangzhou
2006/13 Aging and Economic Growth: Issues Relevant to Singapore Shandre M. Thangavelu and Yong Yik Wei
2006/12 Estimating The Impacts of Demographic and Policy Changes on Pension Deficit
A Simple Method and Application to China
Zeng Yi
2006/11 Computing General Equilibrium Models with Occupational Choice and Financial Frictions António Antunes
Tiago Cavalcanti and
Anne Villamil
2006/10 The Effect of Financial Repression & Enforcement on Entrepreneurship and Economic Development António Antunes
Tiago Cavalcanti and
Anne Villamil
2006/09 Cooperation, Stability and Self-enforcement in International Environmental Agreements: A Conceptual Discussion Parkash Chander and Henry Tulkens
2006/08 Managing Exchange Rate Volatility: A Comparative Counterfactual Analysis of Singapore 1994 to 2003 Peter Wilson and Henry Ng Shang Ren
2006/07 Multi Factor SUR in Event Study Analysis: Evidence from M&A in Singapore’s Financial Industry Enrico Tanuwidjaja
2006/06 Development in the Indonesia-Malaysia-Singapore Growth Triangle Toh Mun Heng
2006/05 Linkages and Spillovers from Foreign Ownership in the Indian Pharmaceutical Firms Shandre M. Thangavelu and
Sanja Samirana Pattnayak
2006/04 Trade Regimes, Liberalization and Macroeconomic Instability in Africa Chantal Dupasquier and Patrick N. Osakwe
2006/03 Inflation Targeting Arrangements in Asia: Exploring the Role of the Exchange Rate Tony Cavoli and Ramkishen S. Rajan

What Determines the Gradient among Children in Developing Countries? Evidence from Indonesia

Cheolsung Park
2006/01 Prospects For Enhanced Exchange Rate Cooperation in East Asia: Some Preliminary Findings from Generalized PPP Theory Peter Wilson and Keen Meng Choy
2005/19 Have Exchange Rate Regimes in Asia become More Flexible Post crisis? Re-VISITING the EVIDENCE Tony Cavoli and Ramkishen S. Rajan
2005/18 The Capital Inflows Problem in Selected Asian Economies in the 1990s Revisited: The Role of Monetary Sterilization Tony Cavoli and Ramkishen S. Rajan
2005/17 Managing New-Style Currency Crises: The Swan Diagram Approach Revisited Ramkishen S. Rajan
2005/16 Does Stock Market Liberalisation
Benefit The Economy? Evidence From Industry-Level Data
Lee Chee Tong
2005/15 Determinants of Job Turnover Intentions: Evidence from Singapore Xiaolin Xing and Zhenlin Yang
2005/14 Central Bank Credibility and Monetary Policy: Evidence from Small Scale Macroeconomic Model of Indonesia Enrico Tanuwidjaja and Choy Keen Meng
2005/13 Creating First-Mover Advantages:
The Case of Samsung Electronics
Jang-Sup SHIN and Sung-Won JANG
2005/12 Do the technical indicators reward
chartists? A study on the stock markets of China, Hong Kong and Taiwan
Wing-Keung Wong, Jun Du and
Terence Tai-Leung Chong
2005/11 Assessing the Effects of Privatisation, Competition and Regulation on Economic Performance: The Case of Electricity Sector Reform Yin-Fang Zhang, David Parker and
Colin Kirkpatrick
2005/10 Choice of Monetary and Exchange Regimes in ECOWAS: An Optimum
Currency Area Analysis
Chantal Dupasquier, Patrick N. Osakwe
and Shandre M. Thangavelu
2005/09 The Location Decisions of
Foreign Logistics Firms in China:
Does Transport Network Capacity Matter?
Anthony Chin and Hong Junjie
2005/08 SINGAPORE'S BEVERIDGE CURVE: A Comparative Study of the  Unemployment and Vacancy Relationship for Selected East Asian Countries Edward Teo, Shandre M. Thangavelu, Elizabeth Quah
2005/07 A Dynamic Shift-Share Analysis of the Electronics Export Market 1988-2001: Can the NIEs Compete with China? Peter Wilson, Ting Su Chern, Tu Su Ping and Edward Robinson
2005/06 Don’t Frighten the Horses – the Political Economy of Singapore’s Foreign Exchange Rate Regime since 1981 Peter Wilson and Gavin Peebles
2005/05 Bilateral “WTO-Plus” Free Trade Agreements: The WTO Trade Policy Review of Singapore 2004 S.M. Thangavelu and Toh Mun Heng

Pursuing Green Growth: Some Conflicts and Necessary Conditions for a Pragmatic Environmental Policy

Euston Quah


Reverse Mortgages as Retirement Financing Instrument: An Option for “Asset-rich and Cash-poor” Singaporeans

Ngee-Choon Chia and Albert K C Tsui


Medical Savings Accounts in Singapore: How much is adequate?

Ngee-Choon Chia and Albert K C Tsui


Modelling Small Economy Exports:
The Case Of Singapore

Tilak Abeysinghe and Keen Meng Choy