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Factors for economic development in Hong Kong and capital of capital of SingaporeSock-Yong Phang s (2000 ) study show the followingMajority of bring in Hong Kong and Singapore is state owned and it is lease to the underground parties . Thus Government makes huge amounts of revenueTherefore the governing levies precise little tax on businesses . It has a liberal sparing and the judicature follows the policy of least interventionGovernment invested / encouraged investment in infrastructureBoth Hong Kong and Singapore enjoy a relatively corruption unacquainted(p) and honest governanceThese factors (Low tax rates , high business granting immunity , unassailable infrastructure and a corruption free government ) attracted and subdued continue to a large number of remote investorsLow revenue enhancement on trade was a boost ing factor for trading and memory activitiesGovernment policies towards education and training resulted in the trigger of good gracious resourceLet us now consider the nerve of a impertinently industrialized economy .

Unlike Hong Kong and Singapore many of these impudently industrialized economies would mainly be agricultural economies prior to industrialisation . Hence the state ownership of reach 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 stick out shelter and transpar! ent 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 exemption . This is...If you deprivation to get a full essay, order it on our website: OrderCustomPaper.com

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