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題名 新加坡的金融中心發展-內部與外部因素
Singapore’s Financial Cluster in Light with Internal and External Forces
作者 何杰鴻
Jerome Jean Maurice Hernad
貢獻者 姜家雄
Alex Chiang
何杰鴻
Jerome Jean Maurice Hernad
關鍵詞 Singapore
Finance
Banking
Cluster
Singapore
Finance
Banking
Cluster
日期 2013
上傳時間 14-Jul-2014 11:33:21 (UTC+8)
摘要 新加坡共和國(以下簡稱新加坡)長期以來致力推動該國金融產業的自主性發展,並強化該產業成為國家經濟動能的要角。
本論文擬深度剖析新加坡獨特的銀行與金融法規,並分析新加坡在金融業經營管理人才的教育培訓、伊斯蘭金融體系的崛起、人民幣國際化等政策面向所做的努力,以彌補現有學術領域對該國金融業研究的不足和缺口。
本文所採用的分析期間從新加坡啟動金融業自由化開始的1999年,截至2014年為止;而在分析架構方面,我們採用Michael Porter的產業鑽石模型來勾勒出新加坡金融業的產業競爭優勢。
此外,我們藉由檢驗已取得的原始資料與當地市場的條件分析,進一步評估存在於新加坡金融體系的潛在風險和成功要素。
從本文分析結果顯示,新加坡金融業仍缺乏於其競爭對手-香港所擁有的關鍵性經濟規模;此外,該國在金融業經營管理人才的培訓成效上仍然不足。
儘管新加坡政府宣稱將推動該國成為人民幣的境外金融中心,然而該政策僅著重在中華人民共和國的市場開發,並非擴展及整個東南亞區域。
The Republic of Singapore has long had a voluntary policy of developing its financial sector, and making it an essential part of its economy.
This thesis aims at filling in the gaps of the current knowledge about Singapore’s financial cluster, through an in-depth analysis of Singapore’s unique set of banking and financial regulations, and recent developments that include the education of financial managers, the rise of Islamic finance, and the internationalization of the Renminbi.
The time frame used to analyze it spans from the liberalization of Singapore’s financial and banking sector, which started in 1999, till 2014. The framework of Porter’s ‘Diamond model’ has been used to outline the strength, and weaknesses of the financial cluster.
Shortcomings and successes of Singapore’s financial cluster have been evaluated by analyzing primary sources available, and by examining the local environment.
Singapore’s financial cluster still lacks critical mass in comparison to that of its rival, Hong Kong. Furthermore, weaknesses remain in regards to the educational level of financial and banking managers.
The recent developments to set Singapore as an offshore Renminbi center can only be acclaimed, however its main focus on the People’s Republic of China, needs to be broadened, to include the overall Southeast Asian region.
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描述 碩士
國立政治大學
亞太研究英語碩士學位學程(IMAS)
101926037
102
資料來源 http://thesis.lib.nccu.edu.tw/record/#G1019260372
資料類型 thesis
dc.contributor.advisor 姜家雄zh_TW
dc.contributor.advisor Alex Chiangen_US
dc.contributor.author (Authors) 何杰鴻zh_TW
dc.contributor.author (Authors) Jerome Jean Maurice Hernaden_US
dc.creator (作者) 何杰鴻zh_TW
dc.creator (作者) Jerome Jean Maurice Hernaden_US
dc.date (日期) 2013en_US
dc.date.accessioned 14-Jul-2014 11:33:21 (UTC+8)-
dc.date.available 14-Jul-2014 11:33:21 (UTC+8)-
dc.date.issued (上傳時間) 14-Jul-2014 11:33:21 (UTC+8)-
dc.identifier (Other Identifiers) G1019260372en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/67489-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 亞太研究英語碩士學位學程(IMAS)zh_TW
dc.description (描述) 101926037zh_TW
dc.description (描述) 102zh_TW
dc.description.abstract (摘要) 新加坡共和國(以下簡稱新加坡)長期以來致力推動該國金融產業的自主性發展,並強化該產業成為國家經濟動能的要角。
本論文擬深度剖析新加坡獨特的銀行與金融法規,並分析新加坡在金融業經營管理人才的教育培訓、伊斯蘭金融體系的崛起、人民幣國際化等政策面向所做的努力,以彌補現有學術領域對該國金融業研究的不足和缺口。
本文所採用的分析期間從新加坡啟動金融業自由化開始的1999年,截至2014年為止;而在分析架構方面,我們採用Michael Porter的產業鑽石模型來勾勒出新加坡金融業的產業競爭優勢。
此外,我們藉由檢驗已取得的原始資料與當地市場的條件分析,進一步評估存在於新加坡金融體系的潛在風險和成功要素。
從本文分析結果顯示,新加坡金融業仍缺乏於其競爭對手-香港所擁有的關鍵性經濟規模;此外,該國在金融業經營管理人才的培訓成效上仍然不足。
儘管新加坡政府宣稱將推動該國成為人民幣的境外金融中心,然而該政策僅著重在中華人民共和國的市場開發,並非擴展及整個東南亞區域。
zh_TW
dc.description.abstract (摘要) The Republic of Singapore has long had a voluntary policy of developing its financial sector, and making it an essential part of its economy.
This thesis aims at filling in the gaps of the current knowledge about Singapore’s financial cluster, through an in-depth analysis of Singapore’s unique set of banking and financial regulations, and recent developments that include the education of financial managers, the rise of Islamic finance, and the internationalization of the Renminbi.
The time frame used to analyze it spans from the liberalization of Singapore’s financial and banking sector, which started in 1999, till 2014. The framework of Porter’s ‘Diamond model’ has been used to outline the strength, and weaknesses of the financial cluster.
Shortcomings and successes of Singapore’s financial cluster have been evaluated by analyzing primary sources available, and by examining the local environment.
Singapore’s financial cluster still lacks critical mass in comparison to that of its rival, Hong Kong. Furthermore, weaknesses remain in regards to the educational level of financial and banking managers.
The recent developments to set Singapore as an offshore Renminbi center can only be acclaimed, however its main focus on the People’s Republic of China, needs to be broadened, to include the overall Southeast Asian region.
en_US
dc.description.tableofcontents Chapter 1. Introduction 1
1.1 Overview 1
1.2 Purpose of the research 2
1.3 Theoretical framework 3
1.3.1 Cluster theory 3
1.3.2 Porter’s diamond model 4
1.3.2.1 Overview 4
1.3.2.2 Demand conditions 5
1.3.2.3 Factor conditions 5
1.3.2.4 Related and supporting industries 6
1.3.2.5 Firm strategy, structure and rivalry 6
1.3.2.6 Limitations of Porter’s diamond model 6
1.3.3 Summary 7
1.4 Literature review 7
1.5 Background information 9
1.5.1 Development stages of the Republic of Singapore 9
1.5.1.1 The path to self-governance and independence 9
1.5.1.2 The Republic of Singapore’s first industrial revolution and the following turmoil 11
1.5.1.3 The second industrial revolution: A hazardous journey 12
1.5.1.4 The 1991 Strategic Economic Plan: a turning point 14
1.6 Chapters layout 16
Chapter 2. Emergence of Singapore as a Full-bodied Financial and Banking Cluster, and Performance from 1997 to 2013 17
2.1 The 1997 Asian Financial Crisis: a wake up call for Singapore’s financial center 17
2.1.1 Impact on Asia 17
2.1.2 Impact on Singapore 19
2.1.3 Impact on the Singapore Dollar 20
2.1.4 Impact on Singaporean banks 22
2.1.5 Impact on the Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange Limited (Simex) 22
2.2 Liberalization of Singapore’s Financial and Banking Market: Singapore’s answer to the 1997 Asian Financial Crisis 23
2.2.1 First phase of the reform 24
2.2.1.1 Qualifying Full Banks 24
2.2.1.2 Restricted banks 25
2.2.1.3 Offshore banks 25
2.2.2 Second phase of the reform 25
2.2.2.1 Outcome for local banks 26
2.2.2.2 New license scheme for foreign banks 26
2.2.2.3 Outcome for foreign banks 27
2.3 Specificities of Singapore’s financial cluster 28
2.3.1 Asian Dollar Market 28
2.3.1.1 Asian Currency Units 28
2.3.1.2 Asian Dollar Bond Market 31
2.3.2 The Banking Act and the Trust Companies Act: guarantors of Singapore’s status as a “tax heaven” 33
2.3.2.1 Singapore’s Banking Act 33
2.3.2.1.1 Impact of the 2008 financial crisis on the Banking Act 34
2.3.2.2 Singapore’s Trust Companies Act 35
2.3.3 Summary 36
2.4 Case study of the impact of the liberalization on three banks operating in Singapore 36
2.4.1 Recent performance of Singapore’s domestic banks 37
2.4.2 Singapore’s “Big Three” from 1997 to 2013 38
2.4.2.1 DBS 38
2.4.2.2 OCBC 39
2.4.2.3 UOB 40
2.4.2.4 Summary 40
2.5 Evaluation of the evolution of Singapore’s banking and financial market 43
2.5.1 Singapore’s foreign exchange market 43
2.5.2 Singapore’s stock market 44
2.5.2.1 Attractiveness of SGX for foreign companies 45
2.5.2.2 The ASEAN Trading Link 46
2.5.3 Private banking and wealth management in Singapore 47
2.5.3.1 Private banking 47
2.5.3.1.1 The importance of HNWIs 48
2.5.3.2 Wealth management 50
2.5.3.2.1 Influence of CPF on Singapore’s wealth management industry 52
Chapter 3. Factor Conditions and Global Linkages at Play in Singapore’s Financial Cluster 53
3.1 Introductory remarks 53
3.2 Education and capacity building: a crucial factor condition 53
3.2.1 Educational offer aimed at the banking and financial sector 54
3.2.1.1 Impact of the Institute of Banking and Finance, of the Financial Industry Competency Standards, and of the Wealth Management Institute 55
3.2.2 Scholarships programs 56
3.2.3 The issue of skilled labor immigration in light with the performance of the local workforce in the banking and financial sector 56
3.3 Islamic Finance 58
3.4 The Renminbi factor 60
3.4.1 The internationalization of the RMB: historical development 60
3.4.2 Where does Singapore stand in the race to become a major RMB offshore center? 62
3.4.3 As China develops its internal financial market, is it too late for Singapore to enter the competition? 63
Chapter 4. Conclusion 64
4.1 Concluding remarks 64
4.1.1 Evaluation of Singapore’s financial cluster: strengths and weaknesses 65
4.2 Policy recommendations 66
References 67
Appendix 85
MAS statement on measures to liberalise commercial banking and upgrade local banks 17 May 1999 (Monetary Authority of Singapore, 1999) 85
zh_TW
dc.format.extent 1613833 bytes-
dc.format.mimetype application/pdf-
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G1019260372en_US
dc.subject (關鍵詞) Singaporezh_TW
dc.subject (關鍵詞) Financezh_TW
dc.subject (關鍵詞) Bankingzh_TW
dc.subject (關鍵詞) Clusterzh_TW
dc.subject (關鍵詞) Singaporeen_US
dc.subject (關鍵詞) Financeen_US
dc.subject (關鍵詞) Bankingen_US
dc.subject (關鍵詞) Clusteren_US
dc.title (題名) 新加坡的金融中心發展-內部與外部因素zh_TW
dc.title (題名) Singapore’s Financial Cluster in Light with Internal and External Forcesen_US
dc.type (資料類型) thesisen
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