The Price of Virtue: 25 Years of the Currency Board in Hong Kong
Adopted in October 1983, the currency board has allowed Hong Kong to face the economic storms and to maintain the markets' confidence in one of the world's main financial centres. However, exchange rate stability has not been achieved without hitches. The adjustment costs related to this system are high, like they were during the Asian crisis of 1997, and the economic performance of Hong Kong tends to be lower than that of its neighbours. In a context of international financial instability and growing integration to an increasingly more open Chinese economy, what is the assessment of the 25 years of operation of this regime and what are the prospects?
In order to set up a list of libraries that you have access to,
you must first login
or sign up.
Then set up a personal list of libraries from your profile page by
clicking on your user name at the top right of any screen.