Pegged Exchange Rate Systems in Macau and Hong Kong

Robert Haney Scott
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Robert Haney Scott: University of Macau, Macau

Multinational Finance Journal, 1997, vol. 1, issue 2, 153-168

Abstract: Macau pegs its currency, the pataca, to the Hong Kong dollar, which in turn is pegged to the U.S. dollar. This type of pegging order is unique in the annals of international financial arrangements. This article analyzes the structure of the pegged exchange rate systems in Macau and Hong Kong and discusses the financial and economic implications of these systems for the two territories.

Keywords: currency board system; currency substitution; pegged exchange rates; seigniorage (search for similar items in EconPapers)
JEL-codes: F33 G15 (search for similar items in EconPapers)
Date: 1997
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:mfj:journl:v:1:y:1997:i:2:p:153-168

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