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|a0230594743
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|a10.1057/9780230594746|2doi
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|aUKPGM|beng|cUKPGM|dNOU
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|aAPTA
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|aHG3981|b.H66 2009eb
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|a332.4/56095125|222
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|aHong Kong SAR's monetary and exchange rate challenges|h[electronic resource] :|bhistorical perspectives /|cedited by Catherine R. Schenk.
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|aBasingstoke [England] ;|aNew York :|bHKIMR/Palgrave Macmillan,|c2009.
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|axiii, 201 p. :|bill. ;|c23 cm.
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|aPalgrave Macmillan studies in banking and financial institutions
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|aIncludes bibliographical references (p. 189-196) and index.
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|aPART I: HISTORICAL PERSPECTIVES -- Hong Kong's Monetary Challenges in Historical Perspective / C. R. Schenk -- Historical Dimensions of theHong Kong-Guangdong Financial & Monetary Links:Three Cases in Politico-Economic Interactive Dynamics, 1912-1935 / M. K. Chan -- Banking and Exchange Rate Relations Between Hong Kong and Mainland China 1965-1975 /C. R. Schenk -- PART II: THE CURRENCY BOARD -- Laissez-faire's Limitations: The Evolution of Monetary Policy in Hong Kong, 1935-80 / L. Goodstadt -- Rules Versus Discretion in Managing the Hong Kong Dollar, 1983-2007 / T. Latter -- The Originand the Evolution of Hong Kong's Currency Board I / J. Greenwood -- The Origin and Evolution of Hong Kong's Currency Board II / J. Yam -- PART III: THE FUTURE OF THE INTERNATIONAL FINANCIAL CENTRE --Hong Kong's Transformation as a Financial Centre / D.R. Meyer.
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|aHong 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 theRenminbi 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 withmainland China and presents the viewpoint of several of those involvedin 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.
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|aElectronic reproduction.|bBasingstoke, England :|cPalgrave Macmillan,|d2009.|nMode of access:World Wide Web.|nSystem requirements: Web browser.|nTitle from title screen (viewed on Mar. 3, 2009).|nAccess may berestricted to users at subscribing institutions.
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|aFinance|zChina|zHong Kong.
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|aForeign exchange|zChina|zHong Kong.
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|aMonetary policy|zChina|zHong Kong.
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|aElectronic books.|2local
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|aSchenk, Catherine R.|q(Catherine Ruth),|d1964-
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|aPalgrave Connect (Online service)
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|cOriginal|z9780230209466|z0230209467|w(DLC) 2008030097|w(OCoLC)232981151
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|pEB|dHG3981|eH772|y2009
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|3Palgrave Connect
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|uhttp://www.palgraveconnect.com/doifinder/10.1057/9780230594746|zaccess to fulltext (Palgrave)|3Palgrave Connect
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