Government Fiscal Behavior and Economic Growth in Singapore in the Twentieth Century

The following sections are included:

• Introduction

• Literature Review

  • Features of Colonial Government's Finance Behavior

    • Small Size of the Government

    • Creation of a Balanced Budget Structure

    • Weakness of the Colonial Government Macroeconomic Management

  • Previous Econometric Test on Government Expenditure and Economic Growth

• Historical Transitions of the Government's Finance Behavior of Singapore in the Twentieth Century

  • Government Revenue

    • Growth of Government Revenue

    • Changes in Revenue Structure

    • British Colonial Period (1900–39 and 1950–59)

    • Self-Government Period (1959–2000)

  • Government Expenditure

    • Growth of Government Expenditure

    • Changes in the Composition of Government Expenditure

  • Budget Surplus/Deficit and Financial Assets

  • Summary

• Econometric Test

  • Testing Methodology

  • Data

• Empirical Results

  • Unit Root Test

  • Cointegration Tests

  • Granger Causality Tests

• Concluding Remarks