Download or read book The Asian Financial Crisis and the Ordeal of Hong Kong written by Y. C. Jao and published by Praeger. This book was released on 2001-06-30 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studies of Hong Kong's experiences during the Asian Financial Crisis and how it successfully defended its currency and financial markets against speculation, the only country with a fully convertible currency to do so--but also the price Hong Kong paid for her success.
Download or read book The Asian Financial Crisis and the Ordeal of Hong Kong written by Y. C. Jao and published by Bloomsbury Publishing USA. This book was released on 2001-06-30 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: Victim, not instigator of the Asian Financial Crisis, Hong Kong was the only economy that succeeded in defending its fully convertible currency, indeed its entire financial system, against speculators, but the price it paid for success has been deep recession. Jao gives an objective, even-handed account and analysis. Without political or ideological preconsiderations he shows how Hong Kong authorities handled their intervention in the equity market in August 1998. Explaining the conventional wisdom that no fixed exchange rate regime can hold out for long against massive speculation. He goes further to show that Hong Kong contributed not only to the eventual easing of the AFC, but to economic stability throughout Asia as well. Jao opens with a discussion of the nature, causes, and consequences of the AFC. After an overview of Hong Kong's economic and financial fundamentals on the eve of the crisis, he examines the impact it had up close. He examines the massive speculation against the Hong Kong dollar, explaining why speculators were defeated. The AFC's impact on the assets market are also explored. He also analyzes the impact on the financial sector and the real economy. Jao studies and answers two hard questions: why was the economic downturn so severe and why was the territory initially a laggard in economic recovery? He then takes up China's role, and presents an objective, balanced view of Hong Kong's money and finance under Chinese sovereignty, followed by a discussion of how China herself coped with the AFC. The book concludes with an in-depth discussion of the lessons the AFC has taught us and the author's reflections on post-AFC issues.
Download or read book Why Hong Kong mitigated the worst impact of the 1997 Asian financial crisis written by Ruoxi Zhang and published by Scientific Research Publishing, Inc. USA. This book was released on 2019-03-20 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: The three main research questions posed in this thesis are: (i) What were Hong Kong’s strategies in mitigating the worst impact of the crisis? (ii) Why did Hong Kong commit to the resilience of its currency? (iii) Was the recovery due to luck or deliberate interventions? These questions are answered by a combination of statistical, qualitative, and economic indicator methods. Specifically, the Structural Vector AutoRegressive (SVAR) model is imposed to study the contemporaneous relationships between the real and the financial sectors. This study then draws on data collected from 20 semi-structured interviews with informed commentators to investigate reasons for the resilience of the Hong Kong dollar. Before conclusion, the Kaminsky-Lizondo-Reinhart (KLR) signal approach is employed to forecast future currency crises. The analysis shows that: (i) Hong Kong mitigated the negative effects of the crisis through timely and appropriate interventions; (ii) committing to its position as an international financial centre, Hong Kong defended its currency persistence; (iii) mainland China contributed in underwriting pronouncements to enhance regional confidence given the reunification. Enlightened by Hong Kong’s experience, exposure to currency crises can be reduced with prudent policy interventions, trans-regional co-operation, and the backing of a large and cash-strapped partner.
Download or read book Reluctant Regulators written by Leo F. Goodstadt and published by Hong Kong University Press. This book was released on 2011-04-01 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2007-2009 global financial crisis was predictable and avoidable, but American and British regulators chose not to intervene. They failed to implement their own policies because of an Anglo-American "regulatory culture" of non-intervention that dominated financial regulation worldwide. Hong Kong--the international financial center of an increasingly prosperous China--defied world opinion and made stability its priority. This policy ensured Hong Kong's robust performance during the last 15 years, and it made possible Hong Kong's impressive contributions to financing China's economic take-off and to the modernization of its financial institutions.Reluctant Regulatorsis a scathing indictment of regulatory inertia in the West. It provides original insights into the causes of financial crises and pays special attention to China's attempts at reform and Hong Kong's place in China's financial modernization. Leo F. Goodstadtwas chief policy adviser to the Hong Kong Government as head of its Central Policy Unit (1989-1997) and has had an extensive consultancy practice in Asian banking. He has written widely on the global financial crisis and on China's economic development.
Download or read book Hong Kong written by Stephen Chiu and published by Routledge. This book was released on 2009-06-09 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hong Kong is a small city with a big reputation. As mainland China has become an 'economic powerhouse' Hong Kong has taken a route of development of its own, flourishing as an entrepot and a centre of commerce and finance for Chinese business, then as an industrial city and subsequently a regional and international financial centre. This volume examines the developmental history of Hong Kong, focusing on its rise to the status of a Chinese global city in the world economy. Chiu and Lui's analysis is distinct in its perspective of the development as an integrated process involving economic, political and social dimensions, and as such this insightful and original book will be a core text on Hong Kong society for students.
Download or read book The Public Sector in Hong Kong Second Edition written by Ian Scott and published by Hong Kong University Press. This book was released on 2022-09-21 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes and analyses the role of the public sector in the often-charged political atmosphere of post-1997 Hong Kong. In this second edition, Ian Scott explores public sector accountability in terms of Hong Kong’s constitutional framework and the structure, functions, and personnel policies of its civil service system. He examines critical issues facing the administration of the public sector and the formulation and implementation of public policy with particular attention to the political challenges confronting the Hong Kong government over the past decade. A concluding chapter assesses how contested values in a changing political environment have affected the public sector in recent years. This edition has been fully updated to incorporate the latest statistics and research, including Scott’s work in such areas as integrity management, corruption prevention, and policing. This book is an essential resource for scholars and students of public administration and public policy in Hong Kong and more broadly for those who are interested in how a particular jurisdiction deals with common administrative problems such as centralisation, the role of statutory bodies, corruption prevention, and the redress of citizens’ grievances. ‘Professor Ian Scott’s book, The Public Sector in Hong Kong, now in a second much-expanded and up-to-date edition, offers a thorough and rigorous analysis of contemporary governance in Hong Kong, focusing on all the key stakeholders. The book is essential reading for government officials, politicians, journalists, academics, students, and the general public.’ —John P. Burns, The University of Hong Kong ‘The second edition not only updates the development in the public sector of Hong Kong, but also provides an important perspective to help readers understand the contexts that navigate its latest developments. This edition, along with Ian Scott’s earlier work, will be judged by many in the field to be among the best books on Hong Kong politics.’ —Hon S. Chan, City University of Hong Kong
Download or read book Public Administration in Hong Kong written by Wei Li and published by Taylor & Francis. This book was released on 2023-06-30 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the case of Hong Kong Special Administrative Region (SAR) of People’s Republic of China, mapping the changing patterns of political-administrative relations affected by the sovereignty change and structural reforms. It identifies the conditions that account for the varied political-administrative relations resulting from these changes, and develops an analytical framework that integrates and adapts theories and models from Western contexts to explain varied political-administrative relations in Hong Kong policymaking. The book tests its hypotheses through a qualitative comparative analysis of 18 cases occurring during the period of 1997–2012. It also conducts a comparative case analysis, which identified alternative causal conditions that were missing in the original framework. The book concludes that civil servants no longer dominate policymaking in Hong Kong after the regime change and structural reforms. While senior civil servants have sustained influence over policymaking processes through codified rules and political appointment, some of them have adapted to the changes in political environment that require more proactive policy styles and more hierarchical loyalty to the Central People’s Government of China than before. The first-hand interview materials presented in the book provide insights about internal political-administrative dynamics rarely accessible from the public domain. These insights provide inside knowledge of the actors, structure and processes of local policymaking in a context of post-colonial transition, and will be of interest to public administration scholars.
Download or read book Intervention to Save Hong Kong written by Charles Albert Eric Goodhart and published by Oxford University Press, USA. This book was released on 2003 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: By August 1998, the Hong Kong economy had become threatened not only by the natural consequences of the Asian crisis (1997-98), but also by waves of speculation, betting that the authorities would be forced to abandon the linked exchange rate (to the US dollar). When facing previous speculative attacks (starting October 1997), the authorities had followed traditional policies of raising interest rates. But by August 1998, such policies had helped to batter asset markets; property prices and output were falling, and confidence was low. Moreover, the speculators had developed an ingenious 'double play', simultaneously selling both the foreign exchange market and the Hang Seng equity market short; whether the authorities used an interest rate defense, or abandoned the 'link', the speculators would gain either way. So, the authorities decided on a bold, unexpected and unconventional response to reports of a further attack. They would undertake counter-intervention, again both in the equity and foreign exchange markets. This book provides a fascinating story in itself, and insights into what lessons academics and practitioners can learn from the turbulent events of the time.
Download or read book Health Insurance Reforms in Asia written by Sabrina Ching Yuen Luk and published by Routledge. This book was released on 2014-03-26 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book empirically examines health care financing reforms and popular responses in three major cities in East Asia: Shanghai, Singapore, and Hong Kong. It adopts a new revised version of the theory of historical institutionalism to compare and explain the divergent reform paths in these three places over the past three decades. It also examines forces that propel institutional change. The book provides three detailed case studies on the development of health care financing reforms and the politics of implementing them. It shows that health care systems in Shanghai, Singapore, and Hong Kong were the products of Western presence in the nineteenth century. It illustrates how greater attention is paid to the roles played by ideas, actors, and environmental triggers without abandoning the core assumptions that political institutions and policy feedback remain central to impact health care financing reforms. It shows that health care financing reform is shaped by a complex interplay of forces over time. It also provides the most updated material about health care financing reforms in Shanghai, Singapore, and Hong Kong. The central argument of this book is that health care financing reform is both an evolving process responding to changing circumstances and a political process revealing an intricate interplay of power relationships and diverse interests. It shows that institutional changes in health care financing system can be incremental but transformative in nature. It argues that social policies will continue to develop and welfare states will continue to adapt and evolve in order to cope with new risks and needs. This book sheds new lights on understanding the politics of health care financing reform and sources and modes of institutional change.
Download or read book The Construction Sector in the Asian Economies written by Y. H. Chiang and published by Taylor & Francis. This book was released on 2004 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive and up-to-date collection of data on the Asian construction sector presents a unique guide to construction economics in the following countries: Australia, China Mainland, China Hong Kong, India, Indonesia, Japan, Korea, Malaysia,
Download or read book Centres and Peripheries in Banking written by Even Lange and published by Routledge. This book was released on 2016-12-05 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents a broad investigation into the relationship between the centre and the periphery in banking. Focusing on the historical development of financial markets, from their emergence in the early modern period to today's global financial and capital markets, the chapters investigate how local, national and international relationships have affected and helped shape the banking industry over three-hundred years. This wide-ranging discussion in time and place is provided by a group of international experts, encompassing bankers, economists, economic historians and historians, and will be of interest to all those with a scholarly or professional interest in the development of financial institutions.
Download or read book Profits Politics and Panics written by Leo Goodstadt and published by Hong Kong University Press. This book was released on 2007-10-01 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Goodstadt brilliantly weaves a tapestry that resolves major puzzles about Hong Kong's growth as an international financial centre during this pivotal fifty-year period. This is a devastating expose of the consequences of the British colonial government's failure to effectively regulate banking and manage monetary policy."--David Meyer, Washington University. St. LouisLeo F. Goodstadt is adjunct professor in the School of Business Studies at Trinity Colletge, University of Dublin. He was formerly deputy editor of the Far Eastern Economic Review.
Download or read book The First Tung Chee hwa Administration written by Zhaojia Liu and published by Chinese University Press. This book was released on 2002 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a study of the administration of Hong Kong's government under the leadership of Tung Chee-hwa during a time when Hong Kong was changing politically and economically. The contributors address the following questions: To what extent are government policies consistent with those of colonial rule? What does "one country two systems" mean, and to what extent has the Tung regime been successful in safeguarding this principle? How responsible are external economic forces for the apparent deterioration of the Hong Kong economy? Who are affected most by the restructuring of the economy, and what are some of the long-term implications for Hong Kong as an important world financial center? How do people in general perceive these changes? What are some of the most effective economic and social policy measures that the Tung government has initiated? Finally, how successful has the Chief Executive been during his five years in office?
Download or read book The Changing Academic Profession in Hong Kong written by Gerard A. Postiglione and published by Springer. This book was released on 2017-05-05 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hong Kong's universities have been transformed by the move from elite to mass higher education, from government support to market driven finance, from academic management to professional management, from local to cross border and international outreach, from China's education bridge to China's education window, and from a colonial model of curricular specialization to a postcolonial model emphasizing broader intellectual development and service. As the landscape of Hong Kong higher education has undergone change, so have the backgrounds, specializations, expectations and work roles of academic staff. The academic profession is ageing, increasingly insecure, more accountable, more international, at the same time, more Mainland-focused and less likely to be organized only along disciplinary lines. The academic profession today is expected to be more innovative in teaching, more productive in research and more entrepreneurial in fundraising. New approaches to governance have evolved and blurred the boundaries between academic and managerial roles within the university. The power to appoint members to university councils has become an area of contention. It has come increasing differentiation and changing expectations about knowledge creation and application. This has expanded the role of the academy and challenged the coherence and viability of the traditional academic role and loyalties to original disciplines. Based on the multitude of challenges in Hong Kong higher education, this book explores the future direction of Hong Kong academic profession. "Hong Kong has arguably one of the best higher education systems in the world. At the heart of this system, and indeed of any system, is the academic profession. The Changing Academic in Hong Kong provides a convincing and multifaceted analysis of the professoriate. This book is essential for understanding Hong Kong's success--and it has lessons for a broader understanding of the academic profession." Philip G. Altbach, Research Professor, Boston College, USA "The one book that has presented a complete portrait of recent changes and challenges to Hong Kong’s academic profession –the book should be recognized as a classic." Futao Huang, Professor of Higher Education, Hiroshima University, Japan "Gerard Postiglione and Jisun Jung have successfully pulled together a strong team of researchers making significant contributions to the debates of changing academic profession, especially as universities in Hong Kong are developing new performance indicators in response to the University Governance Review by Sir Howard Newby. This volume is timely and highly relevant to researchers, academics and policy makers in higher education with critical reflections on academic profession in Hong Kong." Ka-ho Mok, Vice President, Lingnan University, Hong Kong“/b> "A very thorough analysis of the situation of the academic profession and its environment in Hong Kong! A setting which calls for and provides opportunities for internationality of higher education in a unique way, but concurrently is tempted to make it itself a victim of the world-wide inclination of over-emphasizing visible research productivity. Thus, the case of Hong Kong is presented as both exceptional and as prototypical for the search of the balance across the functions of higher education." Ulrich Teichler, Professor, International Centre for Higher Education Research, Kassel University, Germany "Hong Kong's higher education sector is a microcosm of many of the world's other systems: intensely urban, experiencing significant transformation, attuned to rankings and peer comparison, watchful toward government intervention, anxious about funding, and always on the lookout for new performance indicators for faculty. Anyone interested in Hong Kong will find "The Changing Academic Profession in Hong Kong" a good read, but so will those of us concerned about trends, challenges, and possibilities at university systems in the rest of the world, particularly Asia." William G. Tierney, Professor, University of Southern California, USA
Download or read book Global Economic Elites and the New Spirit of Capitalism written by Markus Pohlmann and published by Springer Nature. This book was released on with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Lion Wakes written by David Kynaston and published by Profile Books. This book was released on 2015-03-05 with total page 771 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Lion Wakes tells the modern story of HSBC, starting in the late 1970s, when the bank first broke out of the Asia-Pacific region with its purchase of Marine Midland Bank in the US. It follows HSBC's battle to purchase Midland Bank in 1992, the subsequent move of head office from Hong Kong to London, and the string of acquisitions that brought the bank to its pre-eminent place in global finance today. Acclaimed historians Richard Roberts and David Kynaston chronicle the bank's struggles as well as its successes: the last part of the book deals with the ill-fated move into consumer finance in the US, as well as the financial crisis of 2008 and its effect on HSBC. Impeccably researched and generously illustrated from the HSBC archives, this is a valuable addition to global financial history.
Download or read book International Faculty in Higher Education written by Maria Yudkevich and published by Taylor & Francis. This book was released on 2016-11-25 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: In an interconnected and globally competitive environment, faculty mobility across countries has become widespread, yet is little understood. Grounded in qualitative methodology, this volume offers a cutting-edge examination of internationally mobile academics today and explores the approaches and strategies that institutions pursue to recruit and integrate international teachers and scholars into local universities. Providing a range of research-based insights from case studies in key countries, this resource offers higher education scholars and administrators a comparative perspective, helping to explain the impact that international faculty have on the local university, as well as issues of retention, promotion, salaries, and the challenges faced by these internationally mobile academics.
