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“This book tells how public authorities in Singapore designed and adapted policies for allocating land, capital, and labor in order to create good places for Singapore citizens and residents to live and work, setting the infrastructure for people in Singapore to create a poster-child East Asia economic miracle of the late 20th century…..The book is among other things a fascinating analytical economic history about how Singapore purposefully deployed a suite of interrelated public policies about land use, life cycle savings, taxation, regulation, and ethnic toleration.” — THOMAS J. SARGENT, Nobel Laureate in Economics “Rich in facts, data, and scholarly analyses, this book tells a fascinating story of Singapore’s affordable housing policy. It eloquently demonstrates that the objective of affordable housing is achievable. Global cities around the world struggling from declining housing affordability could learn a lot from Singapore’s success.” — ZHI LIU, Lincoln Institute of Land Policy, USA “Which country gets the housing market right? This is a question that experts very often get at conferences, gatherings, and during interviews. And usually “Singapore” comes up as one of the answers. Sock-Yong Phang does an excellent job in sharing her knowledge on Singapore’s housing market, and on what has and has not worked.” — HITES AHIR, International Monetary Fund Global cities today are facing fundamental challenges in relation to unaffordable housing and growing economic inequality. Singapore’s success in making homeownership possible for 90% of its population has attracted much attention internationally. This book represents a culmination of research by the author on key housing policy innovations for affordable housing. Housing policy changes were effected in the 1960s through reforms of colonial legislation and institutions dealing with state land acquisition, public housing, and provident fund savings. The comprehensive housing framework that was established enabled the massive resettlement of households from shophouses, slums and villages to high-rise government-built flats. In the 1980s and 1990s, housing market and land use regulations were amended in response to the changing needs of a growing economy. Housing policies have also been utilised to curb housing speculation, build racially inclusive communities, and reduce wealth inequality. More recently, an ageing population of homeowners has necessitated focus on policies for housing equity extraction. This landmark title is of relevance to all developing economies exploring alternative systems of affordable housing. Sock-Yong Phang is Celia Moh Chair Professor of Economics at the Singapore Management University, Singapore. She is the author of Housing Finance Systems: Market Failures and Government Failures (Palgrave Macmillan, 2013), as well as numerous publications on housing, urban transportation and public-private partnerships in scholarly journals.

Housing --- Industrial organization. --- Public finance. --- Development economics. --- Economic policy. --- Asia --- Urban economics. --- Economics. --- Urban Economics. --- Public Economics. --- Asian Economics. --- Industrial Organization. --- Development Economics. --- R & D/Technology Policy. --- Economic conditions. --- Affordable housing --- Homes --- Houses --- Housing needs --- Residences --- Slum clearance --- Urban housing --- City planning --- Dwellings --- Human settlements --- Social aspects --- Asia-Economic conditions. --- Economic nationalism --- Economic planning --- National planning --- State planning --- Economics --- Planning --- National security --- Social policy --- Economic development --- Industries --- Organization --- Industrial concentration --- Industrial management --- Industrial sociology --- Cameralistics --- Public finance --- Currency question --- Cities and towns --- City economics --- Economics of cities --- Economic aspects --- Public finances --- Asia—Economic conditions.

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Housing --- Transportation --- Economic aspects --- Singapore --- Singapore --- Economic conditions --- Econometric models. --- Economic policy.

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"This paper looks at Singapore's efforts to transform the economic growth base from one that is predominantly efficiency-driven to one that is more innovation-driven. To accelerate the transition process, the government is aggressively investing in "innovation infrastructure"-systems and institutions that make the city a more conducive environment for innovations. The modus operandi, with a distinctive "winner-picking" flavor, mirrors that of its earlier strategic industrial policy in building up the manufacturing sector. It is also in sync with the new urban growth literature which argues that the success of any innovation-driven growth strategy depends on a city's ability to attract a large community of creative individuals in different fields. Innovation infrastructure building requires more than putting in the right systems. It also requires a mindset change at various levels of society. This paper looks at how the government's policy philosophy and practices have evolved over time, and discusses the effectiveness of the government-led, strategic supply-push approach in propelling Singapore onto an innovation-driven growth path. It takes into consideration the city-state's underlying comparative advantages (or disadvantages) and asks how Singapore's existing strength in efficiency infrastructure may give it a first mover advantage in attracting creative talent, how its success may be affected by the small size of the economy, and the various political and social constraints that a small sovereign city-state faces. These issues are explored against the backdrop of the keen competition among the major cities in the region to become an innovation hub. "--World Bank web site.

Creative ability in business --- Industrial efficiency --- Technological innovations --- Economic aspects --- Singapore --- Economic conditions.