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The Analysis Of The Linked Exchange Rate System In Hong Kong And Its Comparison With The Currency Board Monetary System
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Book Synopsis Hong Kong’s Link to the US Dollar by : John Greenwood
Download or read book Hong Kong’s Link to the US Dollar written by John Greenwood and published by Hong Kong University Press. This book was released on 2022-03-07 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hong Kong’s Link to the US Dollar covers the origins of the city’s currency crisis in 1983, the initial resolution of the crisis by creation of a traditional currency board, the subsequent problems leading to the Asian financial crisis of 1997–98, and the later reforms. A new final chapter traces monetary developments in Hong Kong between 2005 and 2020. This valuable compendium of articles, originally written in the bimonthly journal Asian Monetary Monitor between 1981 and 1989, includes the key article that formed the basis for the Hong Kong government’s decision in 1983 to peg the currency to the US dollar, as well as other important documents of historical record. The main contribution of the book is its detailed monetary analysis of Hong Kong’s unique financial system before and after the currency crisis of 1983. The book explains the collapse of the floating Hong Kong dollar under the pressure of capital outflows during the Sino-British negotiations (1982–84) over the future of Hong Kong, the fascinating story of the introduction of the linked rate system pegging the Hong Kong dollar to the US dollar, and the subsequent gradual process of reform and refinement of the currency board mechanism (1988–2020). Hong Kong’s Link to the US Dollar will enable readers to obtain a comprehensive picture of why the linked rate system was put in place, how it works, and how it has been strengthened over the years. The second edition extends the discussion to 2020. Hong Kong’s Link to the US Dollar covers the origins of the city’s currency crisis in 1983, the initial resolution of the crisis by creation of a traditional currency board, the subsequent problems leading to the Asian financial crisis of 1997–98, and the later reforms. A new final chapter traces monetary developments in Hong Kong between 2005 and 2020. This valuable compendium of articles, originally written in the bimonthly journal Asian Monetary Monitor between 1981 and 1989, includes the key article that formed the basis for the Hong Kong government’s decision in 1983 to peg the currency to the US dollar, as well as other important documents of historical record. The main contribution of the book is its detailed monetary analysis of Hong Kong’s unique financial system before and after the currency crisis of 1983. The book explains the collapse of the floating Hong Kong dollar under the pressure of capital outflows during the Sino-British negotiations (1982–84) over the future of Hong Kong, the fascinating story of the introduction of the linked rate system pegging the Hong Kong dollar to the US dollar, and the subsequent gradual process of reform and refinement of the currency board mechanism (1988–2020). Hong Kong’s Link to the US Dollar will enable readers to obtain a comprehensive picture of why the linked rate system was put in place, how it works, and how it has been strengthened over the years. The second edition extends the discussion to 2020.
Book Synopsis Hong Kong SAR Monetary and Exchange Rate Challenges by : C. Schenk
Download or read book Hong Kong SAR Monetary and Exchange Rate Challenges written by C. Schenk and published by Springer. This book was released on 2008-11-28 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hong Kong SAR is now highly unusual as a large economy running a currency board system that pegs the Hong Kong Dollar to the US Dollar. This volume explores the origins and persistence of this system, presenting the viewpoint of several of the main protagonists in the operation of the currency board since 1983 as well as new research by academics.
Author :Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico Publisher : ISBN 13 :9789291319626 Total Pages :0 pages Book Rating :4.3/5 (196 download)
Book Synopsis Market Volatility and Foreign Exchange Intervention in EMEs by : Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico
Download or read book Market Volatility and Foreign Exchange Intervention in EMEs written by Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The New International Monetary System by : Charles Wyplosz
Download or read book The New International Monetary System written by Charles Wyplosz and published by Routledge. This book was released on 2010-02-25 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New International Monetary System brings together twelve original contributions by leading scholars and practitioners to a conference convened in May 2008 on the occasion of the retirement of Alexander Swoboda. The contributions are arranged in three main parts. Part I deals with the international financial architecture, Part II examines the ever-controversial role of exchange rate regimes and Part III takes stock of the conduct of monetary policy and the challenges posed by the inflation-targeting strategy. The chapters provide considered assessments of virtually all the hotly debated issues that concern monetary policies seen from an international perspective. Edited by and with an introduction from Charles Wyplosz, the collection includes contributions from some of the key international figures in the field of monetary policy, central banking and exchange rate regimes to discuss contemporary international monetary issues. Contributors include Michael Bordo, Barry Eichengreen, Ronald McKinnon and Charles Goodhart. The volume also contains tributes from Paul Volcker and Jean-Pierre Roth.
Book Synopsis Money And Finance In Hong Kong: Retrospect And Prospect by : East Asian Institute
Download or read book Money And Finance In Hong Kong: Retrospect And Prospect written by East Asian Institute and published by World Scientific. This book was released on 1998-05-13 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hong Kong's reunification with China on July 1, 1997 after 156 years of British rule was a historic event of worldwide significance. While the transition to Chinese sovereignty has so far been smoother than expected, there are lingering doubts concerning three interrelated issues: whether the Hong Kong dollar can continue to exist, whether the linked exchange rate can survive and whether Hong Kong can retain its role as an international financial centre. These issues are analyzed and discussed objectively in the first article of this book.The second article confines itself to the workings of the currency board. In addition, the future of the system after Hong Kong's historic reunification with China is briefly discussed.
Book Synopsis Finance & Development, September 1997 by : International Monetary Fund. External Relations Dept.
Download or read book Finance & Development, September 1997 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 1997-01-01 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
Book Synopsis The Evolution of Central Banking and Monetary Policy in the Asia-Pacific by : Akhand Akhtar Hossain
Download or read book The Evolution of Central Banking and Monetary Policy in the Asia-Pacific written by Akhand Akhtar Hossain and published by Edward Elgar Publishing. This book was released on 2015-08-28 with total page 654 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book of case studies is a significant contribution to monetary macroeconomics in which country-specific experience and issues in inflation and monetary policy are reviewed and analysed in an historical context. In doing so, the key ideas and views
Book Synopsis China’s Evolving Exchange Rate Regime by : Mr.Sonali Das
Download or read book China’s Evolving Exchange Rate Regime written by Mr.Sonali Das and published by International Monetary Fund. This book was released on 2019-03-07 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de jure floating currencies. Allowing a greater role for market forces within the existing regime, and greater two-way flexibility of the exchange rate, are important steps to build on the progress already made. This should be complemented by further steps to develop the FX market, improve FX risk management, and modernize the monetary policy framework.
Book Synopsis Making a Currency Board Operational by : Charles Enoch
Download or read book Making a Currency Board Operational written by Charles Enoch and published by . This book was released on 1997 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Hong Kong's Currency Board and Changing Monetary Regimes by : Yum K. Kwan
Download or read book Hong Kong's Currency Board and Changing Monetary Regimes written by Yum K. Kwan and published by . This book was released on 1996 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper discusses the historical background and institutional details of Hong Kong's currency board. We argue that its experience provides a good opportunity to test the macroeconomic implications of the currency board regime. Using the method of Blanchard and Quah (1989), we show that the parameters of the structural equations and the characteristics of supply and demand shocks have significantly changed since adopting the regime. Variance decomposition and impulse response analyses indicate Hong Kong's currency board is less susceptible to supply shocks, but demand shocks can cause greater short-term volatility under the system. The decent performance of Hong Kong's currency board is due mainly to the stable fiscal policy of its government. Counter-factual exercises also show that three-fourths of the reduction in observed output volatility and two-thirds of that in observed inflation volatility are explained by the adoption of the currency board, while the remainder is explained by changes in the external environment. The improvement in stability does not rule out the possibility of monetary collapse, however.
Book Synopsis Currency Strategy by : Callum Henderson
Download or read book Currency Strategy written by Callum Henderson and published by John Wiley & Sons. This book was released on 2003-04-11 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Expert advice and timely techniques for surviving and thrivingwithin currency markets Rapid movements in currency markets have been a common occurrencein recent years, often to the detriment of traders and investors.The ability to manage these fluctuations is essential for safe andsuccessful investment in these markets. Currency Strategy developsnew techniques and explains classic tools available for predicting,managing, and optimizing fluctuations in the currency markets.Author Callum Henderson shows readers how traditional macroeconomictheory has repeatedly failed in the face of practical experience inthese markets and develops a new approach based on experience. Hedraws on the technical expertise of his bank to developmathematical models to assist in the prediction of crises and givespractical advice on how to use these and other tools successfully.
Book Synopsis People’s Republic of China—Hong Kong Special Administrative Region: Financial System Stability Assessment-Press Release and Statement by the Executive Director for the People’s Republic of China—Hong Kong Special Administrative Region by : International Monetary
Download or read book People’s Republic of China—Hong Kong Special Administrative Region: Financial System Stability Assessment-Press Release and Statement by the Executive Director for the People’s Republic of China—Hong Kong Special Administrative Region written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-08 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main macro-financial risks relate to extensive linkages to Mainland China, stretched real estate valuations, and exposure to shifts in global market and domestic risk sentiment, compounded by escalating U.S.-China tensions. Stress tests show that the financial system is resilient to severe macro-financial shocks, but there are pockets of vulnerabilities in foreign bank branches, investment funds, households, and nonfinancial corporates. Hong Kong SAR’s financial sector is also exposed to physical and transition risks from climate change.
Book Synopsis Financial Crises, Contagion, and the Lender of Last Resort : A Reader by : Charles Goodhart
Download or read book Financial Crises, Contagion, and the Lender of Last Resort : A Reader written by Charles Goodhart and published by OUP Oxford. This book was released on 2002-01-17 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The ... Budget by : Hong Kong. Financial Secretary
Download or read book The ... Budget written by Hong Kong. Financial Secretary and published by . This book was released on 1998 with total page 970 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Riding Out the Storm by : Donald Tsang
Download or read book Riding Out the Storm written by Donald Tsang and published by . This book was released on 1998 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asia Pacific Journal of Finance by :
Download or read book Asia Pacific Journal of Finance written by and published by . This book was released on 1999 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reform and Recovery in East Asia by : Peter Drysdale
Download or read book Reform and Recovery in East Asia written by Peter Drysdale and published by Routledge. This book was released on 2003-09-02 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: This exciting sequel to East Asia in Crisis offers a completely up-to-date assessment of the progress of East Asian recovery and provides a detailed review of the experience of the region's economies.
