Banking crises and the evolution of the regulatory framework in Hong Kong 1945–1970

Catherine Schenk

Australian Economic History Review, 2003, vol. 43, issue 2, 140-154

Abstract: Hong Kong initially emerged relatively unscathed from the East Asian financial crisis of 1997–1998 and was able to defend the pegged exchange rate on which its status as an international financial centre depended. The soundness and transparency of the financial system is widely credited with allowing Hong Kong to avoid the worst excesses that brought down financial systems elsewhere. This article explores the evolution of the regulatory framework in the post‐war period, revealing the reluctance with which the state tightened its control over the banking system. This resulted in the combination of poor supervision and constraints on competition that contributed to further instability.

Date: 2003
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.1111/1467-8446.t01-1-00047

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:ozechr:v:43:y:2003:i:2:p:140-154

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0004-8992

Access Statistics for this article

Australian Economic History Review is currently edited by Stephen L Morgan and Martin Shanahan

More articles in Australian Economic History Review from Economic History Society of Australia and New Zealand Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().