This paper reviews the concept that a blockchain is simply a database without a central authority. This concept means that a blockchain-based application is inherently a database application that leverages on the strength blockchain has over a traditional database with central authority. Two...

This is a workshop paper for the Asia Productivity Organization workshop entitled "Effects of Advances in ICT on Total Factor Productivity: Analyzing Productivity Gains and Future Trends" on 3-6 September 2013 in Seoul, South Korea. This paper answers three questions in the context of Singapore:...

There is yet any official guidance on the financial reporting of Bitcoin transaction from the standard setters as the crypto-currency become increasingly popular and tax accounting guidance begin to appear in 2014. Designed as a decentralized currency, Bitcoin will not become a reporting...

We estimate the wealth elasticity of longevity in Singapore and discuss its implication for the CPF Life policy in Singapore. Using data from 220 obituaries in 1989 and controlling for the trend of improved longevity over the century, we found a statistically significant wealth elasticity of...

Using the framework of the Porter's Diamond, we examine the Committee to Develop the Accountancy Sector (CDAS) report, which outlines the vision for Singapore to be a leading accountancy hub. The application of the Porter's framework provides clarity on the connectivity of the strategic thrusts...

Commercial cost of living indexes, which are nominal Laspeyres price indexes derived from expatriate price surveys, are increasingly used in policy debate. However, these indexes contain two systematic errors – (1) using nominal exchange rate, instead of the purchasing power parity equivalent,...

The purpose of audit market reforms since 2001 is to restore public confidence in the institution of auditing based on two considerations: (1) ensuring audit quality, and (2) controlling the “adverse effect of competition” in audit supply. Market reforms for audit quality are delivered...