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The Future of the Monetary System of Hong Kong

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.

Details
Published year: 
2012
Authors: 
Professor the Honourable Joseph Yam
Credits: 
Institute of Global Economics and Finance, The Chinese University of Hong Kong
Document Type: 
Case study
Source Language: 
English
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