Government in Business
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The experience of the East Asian Tiger economies in the second half of the 20th century, as well as China’s rapid development in the last thirty years, suggests that active government intervention and involvement are often prerequisites for successful economic development. While classic economic theory prescribes that governments maintain an arms-length relationship with businesses, in most developing economies where financial markets are not sufficiently mature and private sector capacity is often weak, the government may be the only actor that can mobilise resources for long-term, sustainable national development.
Still, when it comes to the practice of government's involvement in the private sector, some questions remain:
What form should government involvement take? What role should the government play? A regulator, purchaser, promoter, partner, or shareholder? How should governments be involved without crowding out private sector initiatives? Can governments keep up with innovations by the private sector? When should governments exit? Government in Business is a two-day programme that takes a pragmatic approach to understanding the role of government in business. Helmed by Mrs. Lim Hwee Hua, former Minister in the Prime Minister’s Office and Second Minister for Finance and for Transport in Singapore, the programme is structured around the four main roles of the government in business: Fiscal manager, regulator, promoter and provider of capital. Interactive classroom sessions will be complemented by a site visit and fireside chat to explore the differing relationships between government and business. You will deepen your understanding of the complex relationship between government and business, especially in the context of emerging markets, and reflect on the context of your own organisation and country.
- Appreciate the various roles government plays in business and the contexts in which each of these roles are important
- Understand the considerations and constraints of government being in business, and identify clearly the arguments for entry or exit
- Develop practical, empirically-grounded insights into the risks and pitfalls of government in business
- Analyse Singapore’s experience in managing government-business relations, and appreciate its strengths and limitations
Who should attend
- Director-level policymakers and regulators in government, particularly those from the ministries of finance, infrastructure, the economy, and planning
- Senior managers and executives from sovereign wealth funds, state-owned enterprises, banks, and private investment entities