by Catherine R. Schenk (2009)
Hong Kong SAR is now highly unusual as a large economy running a currency board system that pegs the Hong Kong Dollar to the US Dollar. This volume explores the origins and persistence of this system, presenting the viewpoint of several of the main protagonists in the operation of the currency board since 1983 as well as new research by academics.
Wensheng Peng, Chang Shu
"This is the first book to collect academic studies examining issues related to the potential internationalization of the remninbi. It considers polisy implications, documents the rising regional importance of the renminbi and discusses key issues in the increasing use of the renminbi in international trade and finance"--Provided by publisher.
Paul de Grauwe
This expositive textbook on monetary integration looks at the costs and benefits of monetary union in Europe. The author examines such topical issues as whether there is a good economic case for countries to have separate currencies, and whether a nation increases its welfare when it abolishes its national currency and adopts the currency of a wider area. This leads naturally to questions concerning the size of an optimal monetary area - should this include the EC, the whole of Europe, or the whole world? The first part of the book focuses on complete monetary unions in which a common currency is substituted for national currencies. The second part looks at incomplete monetary unions and analyzes the operation of monetary systems in which national monetary authorities maintain their national currencies but agree to fix their exchange rates. This leads to an analysis of the European Monetary System and also examines the issues relating to the transition to a full monetary system. The book combines comprehensive exposition with discussion of recent historical events and theory and will prove invaluable to students.
Morgan Ricks
Years have passed since the world experienced one of the worst financial crises in history, and while countless experts have analyzed it, many central questions remain unanswered. Should money creation be considered a 'public' or 'private' activity - or both? What do we mean by, and want from, financial stability? What role should regulation play? How would we design our monetary institutions if we could start from scratch? In 'The Money Problem', Morgan Ricks addresses all of these questions and more, offering a practical yet elegant blueprint for a modernized system of money and banking.
Yangseon Kim, Chang Jae Lee
Proceedings from an international conference: Structural Reforms and Economic Development: Experience of the Trial and Errors of the Northeast Asia, held September 26, 2003. The conference compared, analysed, and discussed the trial and errors of Japan, China and Korea's reforms in the long-run developmental perspectives.