The Third

Singapore Economic Roundtable

edited by Manu Bhaskaran

The Third Singapore Economic Roundtable includes:

• Recent macroeconomic developments in Singapore, by Tan Min-Ching, Lead Economist, Economic Policy Department, Monetary Authority of Singapore

• Singapore’s monetary and exchange rate policy, by Adam Le Mesurier, Vice-President, Asia-Pacific Economic Research, Goldman Sachs, Singapore

• Singapore’s labour market: trends and challenges, by Elizabeth Quah, Divisional Director, Manpower Planning & Policy Division, Ministry of Manpower, Singapore

The Third Singapore Economic Roundtable focuses on themes relating to Singapore’s economic policy and labour market, such as

• increasing concern over Singapore’s economic outlook for 2005 and 2006, and the structural changes the economy has seen;

• the necessity for a more flexible monetary policy framework from the Monetary Authority of Singapore;

• the effectiveness of other policy measures that complement monetary policy, in particular, supply-side and cost measures; and

• challenges in the labour market, and the impact of incoming foreign workers on Singapore citizens

The Roundtable engages participants in forthright discussion. Among the considerations is the question of whether Singaporeans are adequately skilled and capable of taking on new jobs that have been created. We trust that this third Roundtable report will inspire positive changes in the economy and labour market.

Contents:

1. Foreword

       Mr Arun Mahizhnan

      Deputy Director, Institute of Policy Studies, Singapore

      Mr Patrick Daniel

      Managing Editor, English/Malay Newspapers Division

      Singapore Press Holdings

2. Recent Macroeconomic Developments in Singapore

     Ms Tan Min-Ching

    Lead Economist, Economic Policy Department

    Monetary Authority of Singapore

3. Singapore’s Monetary and Exchange Rate Policy

     Mr Adam Le Mesurier

    Vice-President, Asia-Pacific Economic Research

    Goldman Sachs, Singapore

4. Comments on Singapore’s Monetary and Exchange
 Rate Policy

     Mr Jimmy Koh

    Head of Economics – Treasury Research

    Global Treasury

    United Overseas Bank Group

5. Discussion on Singapore’s Monetary and Exchange
Rate Policy

6. Singapore’s Labour Market: Trends and Challenges 53

     Ms Elizabeth Quah

    Divisional Director, Manpower Planning & Policy Division

    Ministry of Manpower

7. Comments on Singapore’s Labour Market: Trends and
Challenges

    Mr Lian Chia-Liang

    Vice-President, Asian Economics & Sovereign Credit
    Research

    PMorgan Chase Bank

8.  Discussion on Singapore’s Labour Market: Trends and Challenges

9. Conclusion

The Participants: Presenters, Commentators, Discussants and Observers

Curricula Vitae  

Abbreviations

Bhaskaran, Manu, ed. 2004. The Third Singapore Economic Roundtable. Singapore: SNP Reference.

(80 pages, ISBN 981 248 033 1)