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Hong Kong's Link to the US DollarOrigins and Evolution$
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John Greenwood

Print publication date: 2007

Print ISBN-13: 9789622098909

Published to Hong Kong Scholarship Online: September 2011

DOI: 10.5790/hongkong/9789622098909.001.0001

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How to Rescue the Hong Kong Dollar Three Practical Proposals

How to Rescue the Hong Kong Dollar Three Practical Proposals

September–October 1983

Chapter:
(p.100) (p.101) Chapter 5 How to Rescue the Hong Kong Dollar Three Practical Proposals
Source:
Hong Kong's Link to the US Dollar
Author(s):

John Greenwood

Publisher:
Hong Kong University Press
DOI:10.5790/hongkong/9789622098909.003.0006

This chapter is concerned with the proposal for a currency board arrangement. It argues that the adoption of a central bank was not acceptable for institutional or other reasons, and the exchange rate could in effect be controlled by the re-introduction of a currency board system without far-reaching institutional changes. It also discusses issues such as stability of the monetary determinant ratios, and explains how cash arbitrage would work under the restored currency board.

Keywords:   currency board arrangement, central bank, exchange rate, currency board system, monetary determinant ratios, cash arbitrage

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