English, Article edition: The Price of Virtue: 25 Years of the Currency Board in Hong Kong David Khoudour-Casteras

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Bookmark: http://trove.nla.gov.au/version/159979
Physical Description
  • article
Language
  • English

Edition details

Title
  • The Price of Virtue: 25 Years of the Currency Board in Hong Kong
Author
  • David Khoudour-Casteras
Physical Description
  • article
Notes
  • 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?
  • Hongkong; exchange rate regime; currency board
  • RePEc:cii:cepill:2008-280
Language
  • English
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