Suchergebnisse

This paper analyzes Singapore's multi-pronged approach to managing prolonged low fertility which has led to population aging, labor force shortages, increasing elderly dependency ratios, and feminization of the elderly population. This approach has emphasized high growth, and has given priority to becoming an attractive business location over providing adequate and equitable retirement and health financing; and has pursued policies designed to generate high levels of net immigration. The chosen policy priorities have created a dilemma centering on ensuring Singapore's business competitiveness on the one hand, and meeting its residents' needs and expectations on the other. In spite of many measures to boost fertility levels (official Total Fertility Rate was 1.29 in 2007, a rate at which population is reduced by 50% in 45 years), as well as high net immigration, population aging is expected to accelerate after 2010. This, along with high income inequalities (Gini coefficient was 0.52 in 2005), will make continuation of current policy priorities even more challenging for the policymakers. While future policy developments are difficult to predict, greater political contestability is likely to hasten the path toward policy priorities which give greater weight to the needs and expectations of the current Singapore residents, even if that leads to lower (but more sustainable and socially cohesive) growth.

Extracto  Singapur es un interesante caso de estudio en cuanto a la respuesta a un rápido envejecimiento, a las crecientes desigualdades y a una importante pobreza relativa. Por oposición a otros países asiáticos de altos ingresos, Singapur se basó en un régimen de ahorros obligatorio de un solo pilar para financiar la jubilación, la vivienda, y en menor medida, los cuidados de salud. Para responder a las bajas tasas de fertilidad, se ha permitido que la parte representada por la población extranjera se triplique entre 1990 y 2005, hasta alcanzar casi un 30 por ciento. Esto está alterando sutilmente la dinámica sociopolítica de Singapur, ayudando al mismo tiempo a mantener el crecimiento y la competitividad. En este documento sostenemos que Singapur tiene las capacidades fiscales, institucionales y de organización necesarias para tener un régimen de seguridad social moderno compuesto por múltiples pilares. Singapur está, sin embargo, determinado a continuar con el régimen actual, inadecuado e injusto, y que exige que los individuos y sus familias corran con parte exagerada del riesgo en la financiación de la jubilación, de los cuidados de salud y del mantenimiento del ingreso a corto plazo. Esto es el reflejo de decisiones políticas deliberadas producto de una visión Darwinista de la sociedad, así como de la necesidad de mantener un control sociopolítico.

Auszug  Singapur liefert ein aufschlussreiches Beispiel für Reaktionen auf rasche Alterung, zunehmende Ungleichheiten und beträchtliche relative Armut. Im Gegensatz zu anderen asiatischen Ländern mit hohem Einkommen hat sich der Staat zur Finanzierung von Alterssicherung, Wohnraum und — in geringerem Maß— Gesundheitsversorgung auf ein einsäuliges Pflichtsparsystem beschränkt. Um der niedrigen Fertilität Rechnung zu tragen, hat er zugelassen, dass sich der Ausländeranteil zwischen 1990 und 2005 verdreifacht hat und jetzt fast 30 Prozent beträgt. Diese Entwicklung führt zu einer subtilen Veränderung der soziopolitischen Dynamik in Singapur, trägt jedoch dazu bei, Wachstum und Wettbewerbsfähigkeit aufrechtzuerhalten. Wir vertreten hier den Standpunkt, dass Singapur über die fiskalischen, institutionellen und organisatorischen Kapazitäten für ein modernes mehrsäuliges System der sozialen Sicherheit verfügt. Singapur ist jedoch entschlossen, die derzeitigen unzureichenden und ungerechten Organisationsformen beizubehalten, die Erwerbspersonen und ihre Familien zwingen, unverhältnismäßig hohe Risiken bei der Finanzierung von Alterssicherung, Gesundheitsversorgung und kurzfristiger Einkommensunterstützung zu schultern. Dies ist eine Folge bewusster politischer Entscheidungen, denen eine darwinistische Vorstellung von der Gesellschaft und das Bedürfnis nach soziopolitischer Kontrolle zugrunde liegt.

Résumé  Le cas de Singapour est instructif s'agissant des mesures prises face au vieillissement rapide de la population, aux inégalités croissantes et à la pauvreté relativement substantielle. Contrairement à d'autres pays asiatiques à revenu élevé, Singapour s'est appuyée sur une épargne obligatoire à un seul niveau pour financer les retraites, le logement et dans une moindre mesure les soins de santé. Pour faire face à la faiblesse du taux de fécondité, elle a fait en sorte que la population de non‐ressortissants triple entre 1990 et 2005 pour avoisiner 30 pour cent, ce qui modifie de façon subtile la dynamique sociopolitique tout en favorisant la croissance et la compétitivité. Le présent document montre que Singapour dispose des moyens budgétaires, institutionnels et structurels nécessaires à un système de sécurité sociale moderne à plusieurs paliers. Singapour est toutefois déterminée à conserver les dispositifs actuels qui sont insuffisants et inéquitables. En effet, ils font porter aux individus et aussi à leur famille les risques disproportionnés du financement des retraites, des soins de santé et du soutien des revenus à court terme. Cette situation reflète des choix politiques conscients découlant d'une vision darwiniste de la société et la nécessité d'un contrôle sociopolitique.

This paper examines the nature and structure of property tax in Singapore, an affluent and rapidly ageing city state in Southeast Asia. While the property tax based on annual rental value has a long history and is a well accepted tax in Singapore, it is only about two decades ago that the process of modernizing the tax began. The paper highlights three characteristics of Singapore's property tax. The first concerns the activist and aggressive use of the property tax as an industrial policy and macroeconomic stabilization tool. The second is the close relationship between public housing, property tax, and mandatory savings scheme. As a result, this scheme has essentially substituted for the mortgage finance market in Singapore. Third, there exist large disparities in property tax treatment of public housing which is very lightly taxed, and the treatment of non-residential properties, which are relatively more heavily taxed. The paper suggests a need for more transparent assessment procedures, particularly in the current scenario of deflationary pressures in the property sector. The paper also suggests that the future revenue potential of Singapore's property tax is limited.

This paper examines the nature and structure of property tax in Singapore, an affluent and rapidly ageing city state in Southeast Asia. While the property tax based on annual rental value has a long history and is a well accepted tax in Singapore, it is only about two decades ago that the process of modernizing the tax began. The paper highlights three characteristics of Singapore's property tax. The first concerns the activist and aggressive use of the property tax as an industrial policy and macroeconomic stabilization tool. The second is the close relationship between public housing, property tax, and mandatory savings scheme. As a result, this scheme has essentially substituted for the mortgage finance market in Singapore. Third, there exist large disparities in property tax treatment of public housing which is very lightly taxed, and the treatment of non-residential properties, which are relatively more heavily taxed. The paper suggests a need for more transparent assessment procedures, particularly in the current scenario of deflationary pressures in the property sector. The paper also suggests that the future revenue potential of Singapores property tax is limited.

Purpose
The COVID-19 pandemic educed extraordinary policy responses globally, including in India, to flatten the infection-growth curve. The trajectories of infections, recovery, and deaths vastly differed across Indian states. The purpose of this study is to investigate whether persistent investments by states in critical social sectors, such as health and education, explain their preparedness and hence better management of the pandemic.


Design/methodology/approach
This study uses secondary data on the number of infected, recovered and deceased due to COVID-19, along with data on population and income across 302 districts in 11 major states in India. Data on health and education indices are collected at the state-level. Linear regression models that also control for heteroskedasticity are applied.


Findings
This study finds that higher investments in health care and education reduce the propensity of the infection spread. Further, states with persistent investments in health care and education exhibit a higher rate of recovery. This study also finds that death rates are significantly lower in states with higher investments in education.


Research limitations/implications
The findings support the conjecture that states that have consistently invested in social sectors benefited from the associated positive externalities during the crisis that helped them manage the pandemic better.


Originality/value
This study will help policymakers understand the underlying social forces critical to the success in the fight against pandemics. Apart from improving preparedness for future pandemics, the evidence provided in the paper may help give better direction and purpose to tax-financed public spending in states where social sector development has hitherto received low priority.