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Rationing Rules and Outcomes: The Experience of Singapore’s Vehicle Quota System
Author:
Ms. Ling H Tan
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Series:
IMF Working Papers
Volume/Issue:
Volume 2001: Issue 136
Language:
English
Publication Date:
01 Sep 2001
DOI:
https://doi.org/10.5089/9781451855814.001
ISBN:
9781451855814
ISSN:
1018-5941
Pages:
30
Keywords:
WP; quota license; quota premium; rate of growth; Quotas; auctions; licenses; transferability; subcategorization; license price; supply and demand factor; pollution permit; quota implementation; license category; category license; car buyer; auction quota; price variable; quota growth; Population growth; Transaction tax; Arbitrage; Tax incidence
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Since 1990, Singapore has sought to control motor vehicle ownership by means of an auction quota system, whereby prospective vehicle buyers need to obtain a quota license before they can make their purchase. This paper assesses the success of the vehicle quota system in meeting its objectives of stability in motor vehicle growth, flexibility in the motor vehicle mix, and equity among motor vehicle buyers. Two important implementation issues-quota subcategorization and license transferability-are highlighted, and policy lessons are drawn for the design of auction quotas in general.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2001: Issue 136