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The enormous increase in the United Kingdom's national debt during the two world wars of the 20th century meant that government debt management, which had hitherto been regarded as a matter of ‘budgetary convenience', acquired great macroeconomic significance. The paper examines and compares...
Persistent link: https://www.econbiz.de/10013090856
Driven largely by unique economic and political factors, Hong Kong SAR was a globalised economy long before the advent of global value chains in the 1990s. In particular, Hong Kong's role as a link between Mainland China and the rest of the world strengthened over time, as did its status as an...
Persistent link: https://www.econbiz.de/10012893181
This note reviews the recent experience of the Hong Kong Monetary Authority's foreign exchange market operations and illustrates why such operations are a passive and mechanical process under the currency board arrangement. This note also discusses whether Hong Kong is well prepared for capital...
Persistent link: https://www.econbiz.de/10012857993