Hong Kong SAR Monetary and Exchange Rate Challenges

1. Front Matter

   Pages i-xiii

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2. Historical Perspectives

   1. Front Matter

      Pages 1-1

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   2. Hong Kong’s Monetary Challenges in Historical Perspective

      • Catherine R. Schenk

      Pages 3-14

   3. Historical Dimensions of the Hong Kong-Guangdong Financial & Monetary Links: Three Cases in Politico-Economic Interactive Dynamics, 1912–1935

      • Ming K. Chan

      Pages 15-44

   4. Banking and Exchange Rate Relations between Hong Kong and Mainland China in Historical Perspective: 1965–75

      • Catherine R. Schenk

      Pages 45-72

3. The Currency Board

   1. Front Matter

      Pages 73-73

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   2. Laissez-faire’s Limitations: The Evolution of Monetary Policy in Hong Kong, 1935–80

      • Leo Goodstadt

      Pages 75-94

   3. Rules Versus Discretion in Managing the Hong Kong Dollar, 1983–2007

      • Tony Latter

      Pages 95-124

   4. The Origin and the Evolution of Hong Kong’s Currency Board I

      • John Greenwood

      Pages 125-144

   5. The Origin and Evolution of Hong Kong’s Currency Board II

      • Joseph Yam

      Pages 145-157

4. The Future of the International Financial Centre

   1. Front Matter

      Pages 159-159

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   2. Hong Kong’s Transformation as Financial Centre

      • David R. Meyer

      Pages 161-188

5. Back Matter

   Pages 189-201

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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.

• banking
• economy
• monetary policy

'...invaluable...highly recommended.' - The Journal of Financial History Review

• University of Glasgow, UK

  Catherine R. Schenk

CATHERINE R. SCHENK FRHS, AcSS is Professor of International Economic History at the University of Glasgow, UK. She has published widely on Hong Kong's banking and monetary history and is the author of Hong Kong as an International Financial Centre (Routledge, 2001). She was Research Fellow at the HKIMR in 2005 and 2008.

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