Another tale of two cities: A note on institutions in Hong Kong and Singapore

This note focuses on one of the factors common to Singapore's and Hong Kong's successful development: They both have an exceptionally good institutional framework for doing business. Data from a world-wide private enterprise survey are presented showing that local businessmen almost uniformly awarded both Singapore and Hong Kong top marks in important institutional dimensions such as: the predictability of rule making, political stability, property rights security, judicial enforcement, and freedom from corruption in the bureaucracy.