Hong Kong, China and the Handling of the Financial Crises: Monetary Management in 1983, 1987, 1997 and 1998
The main purpose of this chapter is to assess the impact of the transition to Chinese sovereignty upon the ability of the Hong Kong government to exercise effective control over its economy. It will compare the ways in which the authorities handled the currency crisis of 1983 and the stock exchange crisis of 1987, when Hong Kong was a British colony, and the financial crises of autumn 1997 and 1998, when it had become a Special Administrative Region of China.
KeywordsStock Market Stock Exchange Hedge Fund Monetary Authority Currency Board
Unable to display preview. Download preview PDF.
- Asian Wall Street Journal, various.Google Scholar
- Enright, M. J., Scott, E. E., Dodwell, D. 1997 The Hong Kong Advantage. Oxford: Oxford University Press. Far Eastern Economic Review, various. Financial Times, various.Google Scholar
- Hanke, S. H. 1997 ‘The Solution: Autopilot for Hong Kong’. Asian Wall Street Journal, 30 November, p 8.Google Scholar
- Ho, R. Y.-K. (ed.) 1991 The Hong Kong Financial System. Oxford: Oxford University Press. Hong Kong Monthly Digest of Statistics, various.Google Scholar
- Hong Kong Monetary Authority (HKMA) 1995 Money and Banking in Hong Kong. Hong Kong: HKMA.Google Scholar
- Hong Kong Monetary Authority (HKMA) Quarterly Bulletin, various.Google Scholar
- Hong Kong Monetary Authority (HKMA) 1998 Review of Currency Board Arrangements in Hong Kong. Hong Kong: HKMA.Google Scholar
- Huang Guobo 1996 ‘The Linked Exchange Rate and Macroeconomic Policy’, in Mole, D. (ed.) Managing the New Hong Kong Economy. Oxford: Oxford University Press.Google Scholar
- International Monetary Fund 1999 International Financial Statistics. Washington: IMF, April.Google Scholar
- International Herald Tribune, various.Google Scholar
- Lui, Y. H. 1991 ‘Money and Capital Markets’, in Ho, R. Y.-K. (ed.) The Hong Kong Financial System. Oxford: Oxford University Press.Google Scholar
- South China Morning Post, various.Google Scholar
- Sung Yun-wing 1998 Hong Kong and South China: the Economic Synergy. Hong Kong: City University of Hong Kong Press.Google Scholar
- Yam, J. 1998a ‘The Hong Kong Dollar Link’. Speech in Tokyo, 3 March 1998, from http://www.info.gov.hk/hkma/pub/speeches/y980303e.htm.
- Yam, J. 1998b ‘Coping with Financial Turmoil’. Speech in Sydney, 23 November 1998, from http://www.info.gov.hk/hkma/pub/speeches/y981123e.htm