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Singapore has developed rapidly since independence, largely due to good governance and policies. However, there is recognition among policymakers of the increasing importance of markets and competition in national economic development. This gave rise to the focus on market liberalisation and competition promotion in regulatory agencies in Singapore.
This volume documents the proceedings of the Economics Symposium on "Regulation and the Limits of Competition". The Symposium focused on the two topics of Market Liberalisation and Regulation, and Promoting Competition.
For the topic on Market Liberalisation and Regulation, the Energy Market Authority (EMA) and Infocomm Development Authority of Singapore (IDA) described their different approaches to market liberalisation in the electricity and telecommunications sectors in Singapore. Both agencies also explained their regulatory philosophies and challenges. Phang Sock Yong, Professor of Economics at the Singapore Management University, also provided a commentary comparing Singapore's liberalisation experiences with other countries.
On the topic of Promoting Competition, the Monetary Authority of Singapore (MAS) explained the objectives and principles of financial supervision which ensures that the financial system in Singapore is safe and stable with a competitive financial market. On the same topic, the Competition Commission of Singapore (CCS) described the Competition Act, CCS' approach to promoting competition and the challenges it faced. Tan Kim Song, Practice Associate Professor of Economics at the Singapore Management University, highlighted the constraints on competition in Singapore in his commentary.
In addition to the proceedings of the Symposium, this volume includes a conclusion summarising the key theme~ in the regulatory approaches, the commentaries and the discussion session of the Symposium.
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