People’s Republic of China: Hong Kong Special Administrative Region: Selected Issues

International Monetary Fund

No 2008/042, IMF Staff Country Reports from International Monetary Fund

Abstract: Hong Kong, like other city financial centers, has a high private saving rate. This paper seeks to understand what the principal drivers of saving and investment in financial centers are. Cyclical frequency changes affecting international financial and trade linkages are key drivers of saving and investment fluctuations in Hong Kong. Hong Kong has a long-established track-record as Asia’s premier center for cross-border financial transactions. Its preeminence derives from its special link with Mainland China, with respect to foreign direct investment flows.

Keywords: ISCR; CR; Hong Kong SAR; investment; Sar; portfolio investment; FDI flow; investment rate; investment efficiency; saving-investment relationship; world share; investment error-correction parameter; Foreign direct investment; Portfolio investment; Import prices; Capital flows; Private savings; Asia and Pacific; Global (search for similar items in EconPapers)
Pages: 33
Date: 2008-02-04
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