IMF Staff Country Reports

Singapore: Selected Issues

Publication Date:

August 13, 2008

Electronic Access:

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Summary:

This Selected Issues paper assesses the stability of Singapore’s banking system in a regional context. It proposes a novel methodology for gauging domestic financial stability. The paper assesses the impact of fiscal measures on macroeconomic activity, and analyzes the effects of monetary policy using structural vector autoregressions. Estimates show that the Monetary Authority of Singapore’s exchange rate-centered framework is well suited to shape monetary decision making, given the large impact that changes in the nominal exchange rate have on activity and prices.

Series:

Country Report No. 2008/281

Subject:

Bank soundness Banking Commercial banks Consumer price indexes Financial institutions Financial sector policy and analysis Fiscal policy Inflation Prices