This presentation describes the role of governments in entrepreneurship. Some good examples are China Taipei, Red China, Malaysia, Singapore and USA. Governments are traditionally seen as very poor in business management. (I think it still is.) But Taipei and Singapore did very well in its role. To a large extent, Red China and its Central Bank are making direct investments not only in currencies, bonds and financial instruments but directly in commodities and businesses. And we should admire the Chinese officials for their courage and risk taking.
23. Examples of successful
government entrepreneurship:
• Malaysia
• Singapore
• Taiwan
• New York City EDC
• Reagan and Bob Clinton
regime in US
24. Singapore – Century 21
campaign led by Koh Bon
Wee – overseer of Singapore
Telecom, Singapore Airlines
and Development Bank of
Singapore
25. “I think that the government’s
recognition that more
entrepreneurship is needed for the
continued development of the
economy is good..” xxx … for your
development then, your relevance
depends on whether you are more
creative and more innovative” - Koh
29. “We were charged with
promoting entrepreneurship
throughout the country. But
neither I nor my senior staff
had any idea what
entrepreneurship was” -
Mustapa
30.
31.
32. Taiwan - K. T. Li (father
of Taiwan Economic
Miracle)
33.
34. “The greatest advantage I had
as economic affairs minister
was I never had a course on
economics” - Li
35. Li’s achievement for
Taiwan:
• per capita GDP of $10,000 (up
from $130)
• inflation rate of only 2.2% for
the past 50 years;
• fifth biggest foreign reserves
• highest GNP growth (9%) of any
country for the last 60 years
36. Li’s 5 Broad Principles
• The starting point is population control
• Never print money you do not have
• The government job is to make people
rich (not fight poverty alone)
• Timing is more important than
ideology
• Create and honour the entrepreneurs
49. Jack Kemp and Pres Reagan (a
football player and an actor) brought
back USA to progress
50. Important provisions of Kemp Roth
Act
Main features of the Act are:
1.Reduction of tax rates by 25% over three
years;
2.Accelerated depreciation deductions;
3.Indexed individual income tax parameters;
4.Exclusion of income of two earner married
couple by 10 %;
5.Reduction in windfall profit taxes; and
6.Expanded provisions for employees stock
ownership plans.
52. Bob Clinton and US economy:
Bill Clinton on Budget Economy
Longest Economic Expansion in US History
In February 2000, the United States entered the 107th consecutive month of
economic expansion -- the longest economic expansion in history.
22.2 million new jobs have been created since 1993, the most jobs ever created
under a single Administration -- and more new jobs than Presidents Reagan and
Bush created during their three terms. 91 percent (19.9 million) of the new jobs
have been created in the private sector, the highest percentage in 50 years.
Unemployment is down from 7.5 percent in 1992 to 4.0 percent in June 2000, and
in April the unemployment rate was the lowest in over 30 years. The
unemployment rate has fallen for seven years in a row, and has remained below
5 percent for 34 months in a row.
The poverty rate has fallen from 15.1 percent in 1993 to 12.7 percent in 1998.
That’s the lowest poverty rate since 1979 and the largest five-year drop in poverty
in nearly 30 years.