A4

Factors for economic development in Hong Kong and capital of capital of SingaporeSock-Yong Phang s (2000 ) study arrange the followingMajority of bring in Hong Kong and Singapore is state owned and it is rent to the underground parties . Thus Government makes huge amounts of revenueTherefore the judicature levies precise little tax on businesses . It has a liberal reservence and the politics follows the policy of least interventionGovernment invested / encouraged investment in infrastructureBoth Hong Kong and Singapore enjoy a relatively corruption open and honest governanceThese cistrons (Low tax rates , high business exemption , unassailable infrastructure and a corruption free government ) attracted and subdued continue to a large number of foreign investorsLow revenue enhancement on trade was a boosting factor fo r trading and memory activitiesGovernment policies towards education and training resulted in the creative activity of good gracious resourceLet us now consider the lesson of a impertinently industrialized economy .

Unlike Hong Kong and Singapore many of these impudently industrialized economies would mainly be agrarian economies prior to industrialisation . Hence the state ownership of solid ground in much(prenominal) economies where a large proportion of population depends on agriculture would not be a good ideaHowever the government could phthisis the following methods to attain economic growthReduce cor ruption and provide shelter and transparent! governanceImprove infrastructural facilities in the country either by extend in government s capital expenditure or by encouraging private players to invest in the infrastructural sectorImpose lesser regulations on business activities and provide more business liberty . This is...If you deprivation to get a full essay, order it on our website: OrderCustomPaper.com

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