A STUDY ON THE HONG KONG MONETARY SYSTEM BEFORE THE RESTORATION TO CHINA

光复前香港货币体系研究

基本信息

  • 批准号:
    07630089
  • 负责人:
  • 金额:
    $ 0.77万
  • 依托单位:
  • 依托单位国家:
    日本
  • 项目类别:
    Grant-in-Aid for Scientific Research (C)
  • 财政年份:
    1995
  • 资助国家:
    日本
  • 起止时间:
    1995 至 1996
  • 项目状态:
    已结题

项目摘要

The first purpose of this study is to examine the development of the Hong Kong monetary system before the restoration to China in July 1997, and next to forecast the condition after 1997. Three findings came out in this study.First, though exchange rate system in Hong Kong is a fixed exchange rate system called the "linked rate system", not a flexible exchange rate system advanced countries now adapting, the operation of this system is very sound from the function of" arbitrage and competition". In recent years, central banking functions, for example open market operation procedures, have been added to the Hong Kong Monetary Authority which manage the exchange rate system.Second, Hong Kong banking system is called three-tier system consisted of Licensed Banks, Restricted License Banks, and Deposit-taking companies. In the money market, especially interbank market, the activity of Japanese banks is very remarkable. Japanese banks, however, devote outward business with Japan and their share of internal business within Hong Kong is unimportant. Because of the banking regulation in Japan, the Hong Kong branches of Japanese banks borrow fund from Japan and place this to Japan. This is a roundabout transaction taking advantage of Hong Kong's free money market.Third, there is a very close cooperation between the Hong Kong Monetary Authority and the People's Bank of China for the stability of the Hong Kong monetary system and Hong Kong Dollar. This is because of the defense on the restoration shock to monetary affairs. The harmony of both monetary authorities is starting before the restoration.Next problem is so to make an analysis of this cooperation in the context of "one country, two currencies" which is an analogy of the idea of Basic Law, that is "one country, two systems". It is necessary for this great experiment that the both monetary authorities cooperete with each other.
本研究的第一个目的,是探讨香港金融体系在1997年7月回归中国前的发展情况,然后预测1997年后的情况。本研究发现三点:第一,虽然香港的汇率制度是一种被称为“联系汇率制度”的固定汇率制度,而非先进国家所采用的弹性汇率制度,但从“套利与竞争”的功能来看,香港的汇率制度运作良好。近年来,香港金融管理局增加了中央银行的职能,例如公开市场操作程序,负责管理汇率制度。第二,香港银行体系被称为三级体系,包括持牌银行、有限制牌照银行和接受存款公司。在货币市场,特别是银行间市场,日本银行的活跃度非常显著。不过,日本银行主要经营与日本的对外业务,而它们在香港的内部业务所占的份额并不重要。由于日本的银行监管,日本银行的香港分行从日本借入资金并将其存放在日本。第三,香港金融管理局与中国人民银行之间有非常紧密的合作,以维持香港金融体系及港元的稳定。这是因为对货币事务恢复冲击的辩护。两个金融当局的协调是在恢复之前开始的,下一个问题是在“一国两币”的背景下分析这种合作,这是对基本法思想的类比,即“一国两制”。对于这一伟大的实验来说,两国货币当局相互合作是必要的。

项目成果

期刊论文数量(3)
专著数量(0)
科研奖励数量(0)
会议论文数量(0)
专利数量(0)
横内正雄: "アジアNIEsの為替調整" 河村哲二他編『現代世界経済システム』(東洋経済新報社). 367-381 (1995)
Masao Yokouchi:“亚洲新兴工业化国家的汇率调整”Tetsuji Kawamura 等人,编辑。Toyo Keizai Inc.,367-381 (1995)。
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    0
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Yokouchi, Masao: "Asia NIEs no Kawse Chousei (Exchange Adjustments of Asian NIEs in the 1980s)" Kawamura Tetuji hoka (hen), Gendai Sekai Keizai System Toyo Keizai Shinpo Sha. October. 367-381 (1995)
横内正夫:“亚洲NIEs no Kawse Chousei(1980年代亚洲NIE的汇率调整)”川村哲治法华(母),现代世界经济系统东洋经济新报社。
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    0
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横内正雄: "河村哲二他編『現代世界経済システム』" アジアNIEsの為替調整, 367-381 (1995)
Masao Yokouchi:“现代世界经济体系”,Tetsuji Kawamura 等编辑,亚洲新兴经济体的汇率调整,367-381 (1995)
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YOKOUCHI Masao其他文献

YOKOUCHI Masao的其他文献

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{{ truncateString('YOKOUCHI Masao', 18)}}的其他基金

THE STUDY ON THE MONETARY SYSTEM OF HONG KONG AFTER THE RESTORATION TO CHINA
光复后香港货币体系研究
  • 批准号:
    10630092
  • 财政年份:
    1998
  • 资助金额:
    $ 0.77万
  • 项目类别:
    Grant-in-Aid for Scientific Research (C)

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