Author: Mukul Asher, NUS

With the end of 2011, Singapore’s policy makers have ample reason to be satisfied with their economic management, and the results of the long-prevailing business location growth model.

Singapore’s macroeconomic indicators, excepting the inflation rate, exhibited encouraging trends in 2011. Read more…

Author: Mukul G. Asher, NUS

Even as demographically mature Japan was coping with the aftermath of 2008 global economic crisis, it suffered triple disasters — a powerful earthquake on 11 March 2011, measuring 9.0 on the Richter scale, followed by the tsunami and near total loss of one its nuclear energy complexes.

The quake stricken Northeastern Japan accounts for around 4 per cent of Japan’s economy. Read more…

Author: Mukul G. Asher, NUS, and Rahul Sen, AUT

As part of a broader objective of deeper economic integration with Asia, New Zealand embarked last year on negotiating a preferential trade agreement (PTA) with India, one of the rapidly growing emerging markets in Asia.

Three rounds of negotiations have now been completed, with the fourth round of negotiations scheduled in New Delhi this month. Read more…

Author: Mukul G. Asher, NUS

The visit of Indonesian President Susilo Bambang Yudhoyono, as Chief Guest for India’s 2011 Republic Day Celebrations, lent much needed substance to the strategic partnership initiated by the two regional neighbours during his previous visit in 2005.

India has signed a preferential merchandise trade agreement with ASEAN, of which Indonesia is a key member. Read more…

Author: Savita Shankar and Mukul G. Asher, NUS

The recent developments in the Indian microfinance sector, particularly in Andhra Pradesh (AP), have been disconcerting. Within a relatively short period, a sector heralded as representing a commercially viable solution to the problems of financial inclusion, poverty reduction and female empowerment is now being accused of various improprieties. Microfinance institutions (MFIs) are now being criticised as detrimental to improving the lives of low income individuals.

Recent developments involve some of the borrowers from MFIs being over-extended, resulting in repayment problems; including coercive collection methods in some cases. Read more…

Author: Mukul G. Asher, NUS, Singapore

The 2008 global crisis and its aftermath have not adversely impacted Singapore’s medium term growth performance. After only 1.4 per cent growth in 2008, and negative 2.0 per cent growth in 2009, the economy rebounded strongly in 2010, with the most recent projected growth rate of 14.8 per cent. The cyclical upturn in the global demand has been a major factor in the strong rebound in 2010 with goods producing sectors, including electronics manufacturing, being the largest contributor.

The services sector was aided by the commencement of casinos during 2010. This is reflected in the projected S$300 million in collections from levy on Singapore residents who visit casinos. The projections are that Singapore’s gambling market could exceed that of Las Vegas by end 2011. Read more…

Author: Mukul G. Asher, NUS

Asian countries have traditionally seen rapid economic growth as their most important priority. Unfortunately, this has meant that, to a large extent, they have been unable to construct adequate, accessible and robust social protection systems.

Social protection systems typically involve retirement income security (or pensions), accessible and affordable healthcare, arrangements to address work injury and related contingencies, and social assistance. Read more…