Chapter 9

Singapore’s Financial Market: Challenges and Future Prospects

David Lee Kuo Chuen and Kok Fai Phoon,    Singapore Management University, Lee Kong Chian School of Business, 50 Stamford Road, Singapore 178899, Singapore    E-mail:


Singapore has successfully developed into one of the leading international financial centers in a short span of less than half a century. The factors of success can be attributed to time, space, and people. Given the complexity and connectivity of today’s markets, there are many challenges in a fast changing environment marked by huge global capital flows and punctuated by crisis after crisis. This chapter will explain the success of Singapore’s financial market and provide the author’s ...

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