This working paper contains the following:
A. Serving the Public Interest
B. The Legal Framework:
- Legal Tender
- Issue of Hong Kong Currency
- Convertibility
- Power of Control over the Monetary Base
- Monetary Policy Objective
- Central Banking Law
C. The Monetary Considerations:
- Domestic Money
- International Money
- Financial Infrastructure
- Monetary Freedom
D. The Technical Considerations:
- Monetary Control
- Form of Control
- To Be or Not To Be
- Control Mechanism
- Loose End
E. The Political Considerations:
- Decision Making
- Fiscal and Monetary Discipline
- Independence for the HKMA
- Psychology of “One Country, Two Currencies”
Please follow the link below to access the working paper.