Credibility of Hong Kong’s Currency Board: The Role of Institutional Arrangements

Yum K. KWAN; Francis T LUI; Leonard K. CHENG

Credibility of Hong Kong’s Currency Board: The Role of Institutional Arrangements

Yum K. KWAN, Francis T LUI, Leonard K. CHENG

Research output: Book Chapters | Papers in Conference Proceedings › Book Chapter › Research › peer-review

Abstract

Since its introduction in Mauritius in 1849, the currency board as a form of monetary institution has generally been neglected in the economics literature. This is probably due to the fact that currency boards were mainly adopted in relatively small and unimportant economies. In recent years, the situation has changed. Argentina’s readoption of the currency board in 1991 and its subsequent impressive economic growth record has
contributed to its credibility as a useful monetary system. Its subsequent adoption in Estonia, Lithuania, and Bulgaria further indicates its increasing popularity. Indeed, during the recent global financial turmoil, the currency board had been prescribed for the battered economies of Russia and Indonesia

Original language	English
Title of host publication	Regional and Global Capital Flows: Macroeconomic Causes and Consequences
Editors	Takatoshi ITO, Anne O. KRUEGER
Publisher	University of Chicago Press
Chapter	7
Pages	233-259
Number of pages	27
ISBN (Print)	0226386767
Publication status	Published - Jan 2001
Externally published	Yes

Publication series

Name	NBER-East Asia Seminar on Economics
Publisher	NBER
Volume	10

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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Cite this

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title = "Credibility of Hong Kong{\textquoteright}s Currency Board: The Role of Institutional Arrangements",

abstract = "Since its introduction in Mauritius in 1849, the currency board as a form of monetary institution has generally been neglected in the economics literature. This is probably due to the fact that currency boards were mainly adopted in relatively small and unimportant economies. In recent years, the situation has changed. Argentina{\textquoteright}s readoption of the currency board in 1991 and its subsequent impressive economic growth record hascontributed to its credibility as a useful monetary system. Its subsequent adoption in Estonia, Lithuania, and Bulgaria further indicates its increasing popularity. Indeed, during the recent global financial turmoil, the currency board had been prescribed for the battered economies of Russia and Indonesia",

author = "KWAN, {Yum K.} and LUI, {Francis T} and CHENG, {Leonard K.}",

year = "2001",

month = jan,

language = "English",

isbn = "0226386767",

series = "NBER-East Asia Seminar on Economics",

publisher = "University of Chicago Press",

pages = "233--259",

editor = "Takatoshi ITO and KRUEGER, {Anne O.}",

booktitle = "Regional and Global Capital Flows: Macroeconomic Causes and Consequences",

address = "United States",

}

Credibility of Hong Kong’s Currency Board: The Role of Institutional Arrangements. / KWAN, Yum K.; LUI, Francis T; CHENG, Leonard K.

Regional and Global Capital Flows: Macroeconomic Causes and Consequences. ed. / Takatoshi ITO; Anne O. KRUEGER. University of Chicago Press, 2001. p. 233-259 (NBER-East Asia Seminar on Economics; Vol. 10).

Research output: Book Chapters | Papers in Conference Proceedings › Book Chapter › Research › peer-review

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N2 - Since its introduction in Mauritius in 1849, the currency board as a form of monetary institution has generally been neglected in the economics literature. This is probably due to the fact that currency boards were mainly adopted in relatively small and unimportant economies. In recent years, the situation has changed. Argentina’s readoption of the currency board in 1991 and its subsequent impressive economic growth record hascontributed to its credibility as a useful monetary system. Its subsequent adoption in Estonia, Lithuania, and Bulgaria further indicates its increasing popularity. Indeed, during the recent global financial turmoil, the currency board had been prescribed for the battered economies of Russia and Indonesia

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BT - Regional and Global Capital Flows: Macroeconomic Causes and Consequences

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PB - University of Chicago Press

ER -

Credibility of Hong Kong’s Currency Board: The Role of Institutional Arrangements

Abstract

Publication series

UN SDGs

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