All these points are dealt with close contrast between Australian and Singaporean financial system.
The main aim of the paper is to deal with some important points that make a well-structured financial system by comparing the Australian system with that of Singaporean one. It brings sharp contrast of the western financial system with that of Asian. The paper stresses the importance of institutional structure in the design of strong financial regulatory system.
After thorough study of sources like International Monetary Fund's report on Australia's and Singapore's financial system, the report of Monetary Authority of Singapore (2006), Perkins, J.N.O., book , The Dergulation of the Australian Financial System: The Experience of the 1980, Ng Nam Sin's speech in 2004, Ginnie Teo's articles on Singapore. There are other sources of information that help to make this paper worthwhile.
The main findings of the paper is the structure and functions of the financial regulatory system in Australia and Singapore and the related changes that both the nations have brought in to stand as the ultimate destination the financial sector.
The paper concludes with the point that how both the nations are trying to become the regional financial services hub. For this the two countries are ready to bring certain changes in each other system to show their prowess in the financial sector. ...Show more