Dangerous Business Models: Bankers, Bureaucrats & Hong Kong¡¦s Economic Transformation, 1948-86

Leo F. Goodstadt
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Leo F. Goodstadt: University of Dublin

No 82006, Working Papers from Hong Kong Institute for Monetary Research

Abstract: This paper reviews the banking response to Hong Kong¡¦s industrial take-off in the 1950s and the transition to a service economy and regional financial centre in the 1970s. Adjustments to bank business models were frequently flawed, and bankers were prone to self-destructive behaviour. The paper examines how the Government contributed to this mismanagement and misconduct. It failed to match its regulatory policies to the changing economic environment, and it also misunderstood the monetary system. The analysis makes extensive use of previously unpublished data and government archives.

Keywords: Hong Kong; banking regulation; bureaucrats; rules; self-destructive (search for similar items in EconPapers)
Pages: 29 pages
Date: 2006-06
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