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Item Details
| Title:
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HONG KONG SAR MONETARY AND EXCHANGE RATE CHALLENGES
HISTORICAL PERSPECTIVES |
| By: |
Catherine Schenk (Editor), Philip Molyneux (Editor) |
| Format: |
Electronic book text |
| List price:
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£82.80 |
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We currently do not stock this item, please contact the publisher directly for
further information.
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| ISBN 10: |
0230594743 |
| ISBN 13: |
9780230594746 |
| Publisher: |
PALGRAVE MACMILLAN |
| Pub. date: |
28 November, 2008 |
| Series: |
Palgrave Macmillan Studies in Banking and Financial Institutions |
| Description: |
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. |
| Synopsis: |
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. While usually credited with providing stability and prosperity for Hong Kong, the system has become controversial since the decline of the US Dollar since 2002 and the adoption of a flexible basket peg system for the Renminbi in 2005. Why was this system adopted in the first place? Why did Hong Kong go back to a currency board in 1983 after a decade of floating exchange rates? This volume explores the origins and persistence of the system in the context of the long term monetary integration with mainland China and presents the viewpoint of several of those involved in the restoration of the currency board system in 1983. It also explains the changes made since the 1990s and looks to Hong Kong's future prospects. |
| Publication: |
UK |
| Imprint: |
Palgrave Macmillan |
| Returns: |
Non-returnable |
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