The World Bank Is Currently Advising Newly Industrialized Countries On How To Encourage Growth And They Have Asked For Your Help.

NameCourseUniversityTutorDateFactors behind cover Growth in Hong Kong and SingaporeThere be galore(postnominal) similarities between Hong Kong and Singapore . Both countries enjoy gamy scotch growth rates for the past three decades they be sleep with as East Asian Tigers because they do a lurch from poverty to Newly Industrialized Economies (NIE s ) in a authentically short period of time . Both Hong Kong and Singapore were British colonies with two legal and administrative organizations of their former colonial powers They ar the busiest ports in the world in terms of by dint ofputs . They find climbed the industrial ladder and be now important international pecuniary centers because of their reliance on distribute since 1960 s (Kim .et al 1994In plus two cities are densely populated since soil is incompa rable and shoot down together with berth prices is truly high . These two cities are known for being fee traders with hardly a(prenominal) restrictions on trade and capital flows which many a measure are unrefined Domestic Product (GDP . In Hong Kong the resign owns all the lend whereas in Singapore the put up owns quaternity fifths of the primarily by nationalizing undercoat and leasing it out . While the state owns much of the land in Singapore and the sole property owner in Hong Kong , the inefficiencies that could takings from state ownership are interpreted care of through the creation of markets for state , land and property leasesMeanwhile the frequent leasehold system where the state is the major role doer in land use , planning and resource apportionment works very well in both cities since the public sector institutions of both are efficient and non-corrupt .

These institutions in both countries benefit from fair to middling checks and balances , merit-based recruitment and pay scales which are high enough to issue the temptation to corruptionIn conclusion , there economies are widely believed to be the closely economical unloose in the world are these economic freedom emanates from the governments hands-off policy which allows for flexibility and inspection and repair of any given(p) industry in a very short time . Both countries also have very little in stock(predicate) land and very few infixed resources therefore importing most of their food and raw materials as most of their exports consists of re-exports which are products made outside their territoriesReferenceKim , Jong-II and Lawrence J . Lau The Sources of Economic Growth of the East Asian Newly Industrialized Co untries ledger of the Japanese and International Economies , Vol .8 1994 , pp . 235-71PAGEPAGE 1...If you unavoidableness to get a honest essay, order it on our website: OrderEssay.net

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