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Singapore Inc. versus the private sector: are government-linked companies different?

IMF Staff Papers,  September, 2004  by Tan, Ling Hui

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As part of its postindependence industrialization plan, the Singapore government assumed a proactive entrepreneurial role by establishing state enterprises (called government-linked companies, or GLCs) in key sectors such as manufacturing, finance, trading, transportation, shipbuilding, and services.

In this respect, Singapore was different from Hong Kong SAR, whose economic growth was driven by private enterprises, and other East Asian economies like Japan, Taiwan Province of China, and the Republic of Korea, where active industrial policy did not involve widespread government ...

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