| Journal Call no. | HG1302.Q37 |
|---|---|
| Author | Sheng, Andrew. |
| Article Title | The linked exchange rate system : review and prospects / Andrew Sheng. |
| Is Part Of | Quarterly bulletin / Hong Kong Monetary Authority ; no.3, May 1995, p.54-61, illus. |
| Abstract | Critics of the exchange rate link often assert that fixed exchange rates, by removing monetary autonomy, cause asset price bubbles. However, over the past decade asset price inflation has been as least as much a problem in economies with flexible rates. Hong Kong will maintain the linked system, given its high reserves, fiscal and trade surpluses, strong banking system, flexible economy and appropriate monetary armoury. |