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Factors for economic development in Hong Kong and capital of capital of SingaporeSock-Yong Phang s (2000 ) study bring the followingMajority of bring in Hong Kong and Singapore is state owned and it is hired to the underground parties . Thus Government makes huge amounts of revenueTherefore the organisation levies really little tax on businesses . It has a liberal leave alonence and the organisation follows the policy of least interventionGovernment invested / encouraged investment in infrastructureBoth Hong Kong and Singapore enjoy a relatively corruption forgive and honest governanceThese doers (Low tax rates , high business independence , unassailable infrastructure and a corruption free government ) attracted and subdued continue to a large number of outside investorsLow revenue enhancement on trade was a boostin g factor for trading and memory activitiesGovernment policies towards education and training resulted in the knowledgeability of good gracious resourceLet us now consider the geek of a impertinently industrialized economy .

Unlike Hong Kong and Singapore many of these impudently industrialized economies would mainly be agricultural economies prior to industrialisation . Hence the state ownership of bring down 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 attain economic growt hReduce corruption and provide shelter and ! transparent governanceImprove infrastructural facilities in the country either by extend in government s capital expenditure or by encouraging private players to invest in the infrastructural sectorImpose lesser regulations on business activities and provide more business independence . This is...If you deprivation to get a full essay, order it on our website: OrderCustomPaper.com

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