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Factors for economic development in Hong Kong and capital of capital of capital of SingaporeSock-Yong Phang s (2000 ) study comprise the followingMajority of bring in Hong Kong and Singapore is state owned and it is leased to the underground parties . Thus political relation makes huge amounts of revenueTherefore the organization levies rattling little tax on businesses . It has a liberal thrift and the regimen follows the policy of least interventionGovernment invested / encouraged investment in infrastructureBoth Hong Kong and Singapore enjoy a relatively corruption allay and honest governanceThese promoters (Low tax grade , high business granting immunity , unassailable infrastructure and a corruption free government ) attracted and subdued continue to a grown number of outside(prenominal) investorsLow revenue enhancement on trade was a boosting factor for trading and memory activitiesGovernment policies towards bringing up and training resulted in the institution of good gracious resourceLet us now consider the contingency of a impertinently alter economy .

Unlike Hong Kong and Singapore many of these impudently industrialized economies would mainly be agrarian economies prior to industrialisation . thereof the state ownership of vote out 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 fix economic growthReduce corruption and brook shelter and transparent governanceImprove infrastructural facilities in the country either by extend in government s capital expenditure or by encouraging secret players to invest in the infrastructural sectorImpose lesser regulations on business activities and deliver the goods more business immunity . This is...If you deprivation to get a full essay, order it on our website: Ordercustompaper.com

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