Swee Liang Tan

An Empirical Analysis of Stock Market Integration: Comparison Study of Singapore and Malaysia

Using a GARCH (1,1) model, this paper compares the extent to which financial sector liberalization in Singapore and Malaysia each has led to integration of its domestic equity market with external markets. The results show that the level of integration of the domestic markets with the external markets is higher when MSCI regional and global data are used, as compared to when individual country data are used to proxy regional and global markets. Inferences are made about the preferred pace of liberalization in Singapore, as well as, the impact of the Asian financial crisis and capital control measures imposed in Malaysia on financial integration, in the respective countries under study.

What has luck got to do with economic development? An interpretation of resurgent Asia's growth experience

Abstract This paper critically reexamines the belief, currently gathering strength in the literature, that economic development depends on good luck rather than on good policy, and that Prometheus is “unchained by chance”. While it is impossible to disprove the role of luck in growth, we argue that luck is endogenous, and good luck is a function of good policy. Luck favours those who strive. Again contrary to common belief, we show that resurgent Asian economies have endured more, not less, than their fair share of economic volatility. They learned their lessons by success and failures, and luck is endogenous through learning-by-investing.

Knowledge for games, games for knowledge: designing a digital roll-and-move board game for a law of torts class

Game-based constructivist learning has gained considerable attention as educational institutions aim to move from traditional instructional teaching to interactive and collaborative methods. The question is less asked of whether games should be used in teaching but rather how games should be used to create deep learning in students. In light of this movement, the Grade Inflation Game, or GIGAME, was developed. This case study tackles the research question of how games may be designed to harness the benefits of constructivist learning. It first documents the conceptualization of GIGAME and next proposes theoretical frameworks that can be used to guide the development and evaluation of constructivist learning games. Through trial runs on two undergraduate law of torts classes, feedback was gathered from students and the instructor of these classes regarding their perceptions of GIGAME, including learning effectiveness and satisfaction. The feedback suggests that GIGAME can serve as a form of game-based constructivist learning as most students indicated that the game helped consolidate their course knowledge while having fun. These qualitative findings are useful for guiding the development of other games that similarly aim to promote socially interactive and constructivist learning environments. This case study recommends the use of GIGAME in classes, although refinements can still be made to its gameplay.