The Asian financial crisis and the ordeal of Hong Kong / Y.C. Jao.

Author
Jao, Y. C. [Browse]
Format
Book
Language
English
Published/​Created
Westport, Conn. : Quorum Books, 2001.
Description
xv, 227 p. : ill. ; 25 cm.

Details

Subject(s)
Summary note
  • "Victim, not instigator of the Asian Financial Crisis, Hong Kong was the only economy that succeeded in defending its fully convertible currency, indeed its entire financial system, against speculators, but the price paid for success has been deep recession. Jao gives an account and analysis of what happened to one of the world's most open economies during that world-roiling event.
  • Without political or ideological preconsiderations, he shows how Hong Kong authorities handled their intervention in the equity market in August 1998. He explains the conventional wisdom that no fixed exchange rate regime can hold out for long against massive speculation. He goes further to show that Hong Kong contributed not only to the eventual easing of the AFC, but to economic stability throughout Asia as well."--BOOK JACKET.
Bibliographic references
Includes bibliographical references (p. [217]-222) and index.
Contents
Pt. 1. The Asian Financial Crisis. Ch. 1. The Outbreak and Consequences of the Asian Financial Crisis. Ch. 2. The Nature and Causes of the Asian Financial Crisis -- Pt. II. The Impact on Hong Kong. Ch. 3. Hong Kong on the Eve of the Asian Financial Crisis. Ch. 4. Speculation Against the Hong Kong Dollar. Ch. 5. Impact on the Asset Markets. Ch. 6. Impact on the Financial Sector. Ch. 7. Impact on the Real Economy -- Pt. III. Two Puzzles. Ch. 8. Why Was Hong Kong's Economic Downturn So Severe? Ch. 9. Why Was Hong Kong a Laggard in Economic Recovery? -- Pt. IV. The Role of China. Ch. 10. Hong Kong's Money and Finance Under Chinese Sovereignty. Ch. 11. China and the Asian Financial Crisis -- Pt. V. Epilogue. Ch. 12. Lessons and Reflections.
ISBN
1567204473 (alk. paper)
LCCN
00045849
OCLC
45102873
RCP
C - S