Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 86
... HK has not provided a useful case study on the smooth transition from a currency board system to alternative exchange rate regimes . The currency board system still stands as the most appropriate exchange rate arrangement for Hong Kong ...
... HK has not provided a useful case study on the smooth transition from a currency board system to alternative exchange rate regimes . The currency board system still stands as the most appropriate exchange rate arrangement for Hong Kong ...
Page 87
... Hong Kong , US $ at the fixed rate of HK $ 7.80 to US $ 1 before additional HK $ currency notes can be issued . The same fixed exchange rate also applies to the redemption of bank notes . Thus , the full backing and convertibility rules ...
... Hong Kong , US $ at the fixed rate of HK $ 7.80 to US $ 1 before additional HK $ currency notes can be issued . The same fixed exchange rate also applies to the redemption of bank notes . Thus , the full backing and convertibility rules ...
Page 89
... Hong Kong foster supply side flexibility . In the event of external shocks or occasional misalignment of the economic cycles between Hong Kong and US , the link demands price and structural changes in the real sector to maintain or ...
... Hong Kong foster supply side flexibility . In the event of external shocks or occasional misalignment of the economic cycles between Hong Kong and US , the link demands price and structural changes in the real sector to maintain or ...
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accession countries adjustment adopt the euro anchor currency assets average Bank of Estonia Bank of Lithuania banking sector banking system budget Bulgaria candidate countries capital movements cent central bank commercial banks competitiveness credibility currency board arrangement currency board system Currency Commission current account deficit debt Directorate domestic Economic and Financial Economic and Monetary economic policy EMU acquis ERMII Estonian kroon Estonian monetary euro area European Commission European Union exchange rate policy exchange rate regime exports Financial Affairs financial markets financial sector fiscal policy fixed exchange rate flexibility foreign exchange framework growth Hong Kong Honohan implementation important increase inflation integration interbank interest rates investment Irish pound joining the euro liquidity litas macroeconomic Member monetary policy monetary system Monetary Union money market nominal participation payments percent period real exchange rate reserve requirement Russian crisis seigniorage stabilisation trade transition economies wages