01797cas a2200253 a 4500 AALejournalIMF000271 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451950472 1018-5941 BD-DhAAL BD-DhAAL Chan, Kenneth. Currency Speculation and the Optimum Control of Bank Lending in Singapore Dollar : A Case for Partial Liberalization / Kenneth Chan, Kee Ngiam. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (34 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The Monetary Authority of Singapore (MAS) has a long-standing policy of controlling bank lending in Singapore dollars to nonresidents and to residents who use the funds outside Singapore. While the control may prevent the internationalization of the Singapore dollar and contain exchange rate volatility, it can hinder the deepening and widening of the financial markets in Singapore. This paper suggests three policy options that would allow traders and investors to borrow Singapore dollars without any restrictions, while making it costly for speculators since their activities can cause exchange rate volatility which arguably imposes external costs to society. Mode of access: Internet Ngiam, Kee. IMF Working Papers; Working Paper ; No. 1996/095 Full text available on IMF http://elibrary.imf.org/view/journals/001/1996/095/001.1996.issue-095-en.xml IMF e-Library