全球化前瞻策略：新加坡淡馬錫經驗

Anticipatory Strategy in the Age of Globalization: The Experience of Temasek Holdings of Singapore

10.7039/TJSAST.200810.0035

吳鯤魯(Kun-Lu Wu)

前瞻策略 ； 國營企業 ； 政府關聯企業 ； 主權財富基金 ； 淡馬錫控股 ； Anticipatory Strategy ； State-Owned Enterprises ； Government Linked Enterprises ； sovereign wealth funds ； Temasek Holdings

台灣東南亞學刊

5卷2期（2008 / 10 / 01）

35 - 64

繁體中文

淡馬錫控股及其旗下企業在全球化階段，歷經不同時期的國際經濟危機，不盲目遵從新自由主義要求，服膺於整體新加坡國家機關的因應策略，逐步改革，從傳統的國營企業調整爲政聯企業，再轉型成兼具主權財富基金功能的組織。尤其越到晚近，淡聯企業不再僅僅被動回應外在環境變化，反而依存於既有制度路徑，預先掌握未來內外可能趨勢，先期規畫轉型，從而走出自己獨特的道路。當前挑戰主要還在於如何化解對外投資的阻力，特別是國際競爭與國內獨大的矛盾。

In spite of the ideology of Neoliberalism, Temasek Holdings and Temasek-Linked Enterprises following responsive strategy of the State of Singapore, weathering episodic international economic crises in the age of globalization, reformed itself from State-Owned Enterprises to Government Linked Enterprises, and then acquired a sovereign wealth fund status. In recent times, not only reactive to the changes of the environment, on the contrary, dependent on the existing path, Temasek successfully anticipate the tendency, plan transition in advance, and walk out its own way. The challenge ahead resides in the contradiction between international competition and domestic monopoly, which hinders further outward investment.

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