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 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.
Download or read book China s Exchange Rate System Reform Lessons For Macroeconomic Policy Management written by Paul Sau Leung Yip and published by World Scientific. This book was released on 2011-05-26 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author of this book is the original proponent of China's exchange rate system reform announced in 2005. This book discusses:Through these discussions, the author hopes to share his knowledge on macroeconomic policy management accumulated over the past thirty five years. In particular, he would like to share his insights on macroeconomic policy management before, during and after an asset inflation era or a crisis period. He would also like to warn policy makers and financial investors on the likelihood of an asset bubble and then a crisis in economies outside the US. The author hopes this book could eventually stimulate the emergence of “macroeconomic policy management” as a new and important discipline in economics.While the focus of the book is on macroeconomic policy management, it also offers important lessons and strategies on share and property investments. Thus, economists, policy makers, central bank officials, economics students, business and finance professionals, individual investors and academia in other disciplines will find the book useful.
Download or read book FROM NON INTERVENTION TO RELUC written by Keung Vigor Fung and published by Open Dissertation Press. This book was released on 2017-01-26 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "From Non-intervention to Reluctant Interference: the Hong Kong Government Policy Toward the Stock Market" by Keung, Vigor, Fung, 馮強, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. DOI: 10.5353/th_b3197357 Subjects: Stock exchanges - China - Hong Kong Economic policy Stock exchanges
Download or read book Financial Markets in Hong Kong written by Berry Fong-Chung Hsu and published by Oxford University Press, USA. This book was released on 2006 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an essential text for anyone working in the financial markets in Hong Kong. The book, written by a team of market professionals and academics associated with the Asian Institute of International Financial Law of the University of Hong Kong, provides a comprehensive review of the regulation of Hong Kong's financial markets
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.
Download or read book The Allied Intervention in Russia 1918 1920 written by I. Moffat and published by Springer. This book was released on 2015-02-26 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work explores the reasons for the Allied intervention into Russia at the end of the Great War and examines the military, diplomatic and political chaos that resulted in the failure of the Allies and White Russians to defeat the Bolshevik Revolution.
Download or read book Routledge Library Editions Business and Economics in Asia written by Various and published by Routledge. This book was released on 2021-07-14 with total page 10422 pages. Available in PDF, EPUB and Kindle. Book excerpt: This set examines a vast range of topics covering all experiences of business and economics from across Asia. Dealing with early banking systems in China; the industrialisation of Korea and Taiwan; the evolution of Japanese business practices; economic development; protectionist policies; industrial investment; trade; tourism; and a host of other topics, the books collected here form a vital reference resource across a wide subject area.
Download or read book Banks Exchanges and Regulators written by Ranald C. Michie and published by Oxford University Press, USA. This book was released on 2021-01-26 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt: Never have financial markets been subjected to a period of change as rapid and extensive as took place from the 1970s onwards. Ranald C. Michie provides an authoritative account of this upheaval based on a careful reading of the Financial Times over the last four decades.
Download or read book The Effect of Intervention by the Hong Kong Government in the Stock Market written by Rickie W. Wong and published by . This book was released on 1999 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Defence and Decolonisation in South East Asia written by Karl Hack and published by Routledge. This book was released on 2013-12-16 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains why British defence policy and practice emerged as it did in the period 1941-67, by looking at the overlapping of colonial, military, economic and Cold War factors in the area. Its main focus is on the 1950s and the decolonisation era, but it argues that the plans and conditions of this period can only be understood by tracing them back to their origins in the fall of Singapore. Also, it shows how decolonisation was shaped not just by British aims, but by the way communism, communalism and nationalism facilitated and frustrated these.
Download or read book Defence and Decolonisation in Southeast Asia written by Karl Hack and published by Psychology Press. This book was released on 2001 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text explains British defence policy by examining the overlapping of colonial, military, economic and Cold War factors in Southeast Asia.
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 China s Influence and the Center periphery Tug of War in Hong Kong Taiwan and Indo Pacific written by Brian C. H. Fong and published by Routledge. This book was released on 2020-12-30 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bringing together a team of cutting-edge researchers based in Hong Kong, Taiwan and Indo-Pacific countries, this book focuses on the tug of war between China’s influence and forces of resistance in Hong Kong, Taiwan and selected countries in its surrounding jurisdictions. China’s influence has met growing defiance from citizens in Hong Kong and Taiwan who fear the extinction of their valued local identities. However, the book shows that resistance to China’s influence is a global phenomenon, varying in motivation and intensity from region to region and country to country depending on the forms of China’s influence and the balances of forces in each society. The book also advances a concentric center-periphery framework for comparing different forms of extra-jurisdictional Chinese influence mechanisms, ranging from economic, military and diplomatic influences to united front operations. This book will be of key interest to scholars and students of comparative politics, international relations, geopolitics, Chinese politics, Hong Kong-China relations, Taiwan and Asian politics.
Download or read book Historical Dictionary of the Hong Kong SAR and the Macao SAR written by Ming K. Chan and published by Historical Dictionaries of Asia, Oceania, and the Middle East. This book was released on 2006 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Historical Dictionary of the Hong Kong SAR and the Macao SAR is divided into two parts, one for each region. Introductory information, such as the list of acronyms and maps, precedes both parts, but then separate chronologies, introductions, dictionaries, appendixes, and bibliographies are provided for both Hong Kong and Macao - providing an in-depth examination of both SARs. A photospread completes the volume."--Back Cover.
Download or read book Foreign Relations of the United States written by United States. Department of State and published by . This book was released on 1952 with total page 1446 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book From Asian to Global Financial Crisis written by Andrew Sheng and published by Cambridge University Press. This book was released on 2009-09-28 with total page 505 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a unique insider account of the new world of unfettered finance. The author, an Asian regulator, examines how old mindsets, market fundamentalism, loose monetary policy, carry trade, lax supervision, greed, cronyism, and financial engineering caused both the Asian crisis of the late 1990s and the current global crisis of 2008-2009. This book shows how the Japanese zero interest rate policy to fight deflation helped create the carry trade that generated bubbles in Asia whose effects brought Asian economies down. The study's main purpose is to demonstrate that global finance is so interlinked and interactive that our current tools and institutional structure to deal with critical episodes are completely outdated. The book explains how current financial policies and regulation failed to deal with a global bubble and makes recommendations on what must change.
