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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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PRINTED FROM HONG KONG SCHOLARSHIP ONLINE (www.hongkong.universitypressscholarship.com). (c) Copyright Hong Kong University Press, 2021. An individual user may print out a PDF of a single chapter of a monograph in HKSO for personal use.date: 17 January 2022

How to Rescue the Hong Kong Dollar Three Practical Proposals

How to Rescue the Hong Kong Dollar Three Practical Proposals

September–October 1983

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

John Greenwood

Hong Kong University Press

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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