Rising to the Challenge in Asia: A Study of Financial Markets: Volume 3 - Sound Practices
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Books, Periodicals, Studies, and Reports
On-line edition: Free of Charge
Hardcopy price: $25.00 ISBN: 971-561-242-3
Paperback
(Publication Date: August 2000)
In stock
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Third in a series of 12 volumes, this report covers
- corporate governance, and the currency board arrangement in Hong Kong, China
- the Central Provident Fund, and the dichotomized financial system of Singapore
- Taipei,China's banking environment and reform measures
About 165 pages.
To read,
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Acrobat.
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Foreword, Preface, Contents, and Acrononyms and Abbreviations [ PDF: 32kb | 12 pages ]
Corporate Governance in Hong Kong, China: Rising to the
Challenge of Globalization[ PDF: 318kb | 20 pages ]
INTRODUCTION
STATE OF CORPORATE GOVERNANCE
Characteristics of Firms
Regulatory Framework
PROBLEMS ENCOUNTERED AND MEASURES UNDERTAKEN
Ensuring Independence of Management
Disclosure and Transparency
Financial Disclosure of People’s Republic of China Companies Listed on the Stock Exchange
of Hong Kong, China
MAJOR CASES OF POOR CORPORATE GOVERNANCE
The Peregrine Case
The CA Pacific Securities Case
POLICY RECOMMENDATIONS
PROSPECTS FOR THE ENHANCEMENT OF CORPORATE GOVERNANCE
APPENDIX
NOTES
REFERENCES
The Currency Board Arrangement in Hong Kong, China:
Viability and Optimality Through the Crisis[ PDF: 431kb | 34 pages ]
SUMMARY
Overview
The Currency Board Arrangement in Hong Kong, China
Technical Assessment
Economic Optimality
Relevance of Hong Kong, China’s Experience for Asia
TECHNICAL FEASIBILITY AND OPTIMALITY: AN OVERVIEW
Currency Board Arrangements: Three Anchors for Fixing the Exchange Rate
Economic Optimality of Fixing the Exchange Rate Through a Currency Board Arrangement
THE CURRENCY BOARD ARRANGEMENT IN HONG KONG, CHINA
How the System Began
Initial Operations of the Link
Toward the Establishment of a Central Bank
The Strengthening of the Market Exchange Rate in the 1990s
The Real-Time Gross Settlement System
The Monetary Base and the Currency Board Arrangement
Autopilot(?) Developments after the October 1997 Attack
TECHNICAL ASSESSMENT
Vulnerability, Strength, and Uniqueness of the Currency Board Arrangement
Cash Arbitrage as a Nonstarter
The Argentina, Estonia, Lithuania Model of a Convertible Monetary Base
Reservations about the Argentina, Estonia, Lithuania Model
Overall Comments on Technical Feasibility
ECONOMIC OPTIMALITY
Williamson’s “Four Virtues and Seven Vices” of Currency Board Arrangement
The Economics of Small Open Economies: Fixed versus Floating Exchange Rate
Growth and Inflation in Hong Kong, China
Inflation and Asset Price Bubbles
Overall Comments on Optimality
RELEVANCE OF HONG KONG, CHINA’S EXPERIENCE FOR ASIA
Hong Kong, China’s System as an Idiosyncratic Currency Board Arrangement
Can Hong Kong, China’s System or the Argentina, Estonia, Lithuania Model Be Imitated?
Indonesia as an Example
NOTES
REFERENCES
Central Provident Fund in Singapore: A Capital Market Boost or a Drag?[ PDF: 387kb | 26 pages ]
A BRIEF HISTORY
Central Provident Fund as a Financing Tool
CHANGES IN THE CENTRAL PROVIDENT FUND SCHEME
THE CENTRAL PROVIDENT FUND SCHEME AND THE DEVELOPMENT OF THE GOVERNMENT BOND MARKET
ISSUANCE OF GOVERNMENT SECURITIES
The Secondary Market and Trading System
Holdings of Singapore Government Securities
Turnover of Singapore Government Securities
THE CENTRAL PROVIDENT FUND SCHEME AND THE DEVELOPMENT OF THE COUNTRY MARKET
Government Philosophy on Risky Investments with Central Provident Fund Savings
Central Provident Fund-Approved Investment Schemes
Impact of Central Provident Fund-Approved Investments on Trading Volume and Prices
MACROECONOMIC POLICY IMPLICATIONS OF THE CENTRAL PROVIDENT FUND'S ROLE
CONCLUSION
APPENDIXES
NOTES
REFERENCES
All rights reserved
First published August 2000
The views and interpretations in this Report do not necessarily reflect those of the Asian Development Bank.
ISBN 971-561-242-3
Publication Stock No. 061299
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