Singapore has a highly developed and successful market economy. It has an open, pro-business environment, relatively corruption-free and transparent,stable prices, low tax rates (14.2% of GDP) compared to other developed economies, and one of the highest per-capita gross domestic products (GDP) in the world. Its innovative yet steadfast form of economics that combines economic planning of Singapore Economic Development Board with free-market[13] has given it the nickname the Singapore Model. Singapore's sovereign wealth fund Temasek Holdings is a large investor in the economy, holding majority stakes in several of the nation's largest companies, such as Singapore Airlines, SingTel, ST Engineering and MediaCorp.