Jump to ContentJump to Main Navigation
Hong Kong's Link to the US DollarOrigins and Evolution$
Users without a subscription are not able to see the full content.

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

Show Summary Details
Page of

PRINTED FROM HONG KONG SCHOLARSHIP ONLINE (www.hongkong.universitypressscholarship.com). (c) Copyright Hong Kong University Press, 2019. An individual user may print out a PDF of a single chapter of a monograph in HKSO for personal use.date: 21 October 2019

Adjusting to the Link

Adjusting to the Link

July–August 1985

Chapter:
(p.203) Chapter 9 Adjusting to the Link
Source:
Hong Kong's Link to the US Dollar
Author(s):

John Greenwood

Publisher:
Hong Kong University Press
DOI:10.5790/hongkong/9789622098909.003.0010

This chapter provides an overview of how Hong Kong's economy was adjusting to the linked rate system. First, it addresses the adjustment of prices in Hong Kong relative to prices in the US and the Organisation for Economic Co-operation and Development (OECD) as a whole. It then discusses how Hong Kong's balance of payments was adjusting, and argues that larger current account surpluses in the wake of the currency stabilization were almost certainly accompanied by greater capital outflows. It also discusses changes in the money markets, specifically how and to what degree interest rates in Hong Kong and the US were converging. Finally, it discusses the increases in the money multipliers as a result of the increase in confidence following the stabilisation of the currency in October 1983.

Keywords:   linked rate system, prices, OECD, currency stabilization, capital outflows, money markets, interest rates

Hong Kong Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .