Title

Why Did Singapore Take the Gamble? To What Extent Did Legalizing Casino Gambling Lead to Economic Growth in Singapore?

Class Year

2015

Access Type

Archival Only

Degree Name

Bachelor of Arts

Department or Program

Economics Department

First Advisor

Paul A. Johnson

Abstract

This paper explores the economic and social effects of the casino industry in Singapore and aims to tell whether the casinos had a positive or negative impact on total Singapore welfare. It uses data collected from Singapore Department of Statistics (DOS), Federal Reserve Bank of St. Louis (FRED), and the World Bank to assess the impact of Singapore casinos on total GDP, the employment to population ratio, and crimes per capita. The results show an ambiguous conclusion. While the introduction of casinos had a positive association with GDP, it had a negative association with the employment to population ratio, and a positive association with crimes per capita. However, the implementation of government safeguard measures on Singapore citizens and Permanent Residents effectively hindered the casino’s popularity amongst locals, which minimized the expected social costs of problem gambling.

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