Profits, Politics and Panics

Profits, Politics and Panics

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Goodstadt brilliantly weaves a tapestry that resolves major puzzles about Hong Kong's growth as an international financial centre during this pivotal fifty-year period. This is a devastating expose of the consequences of the British colonial government's failure to effectively regulate banking and manage monetary policy.q--David Meyer, Washington University. St. LouisLeo F. Goodstadt is adjunct professor in the School of Business Studies at Trinity Colletge, University of Dublin. He was formerly deputy editor of the Far Eastern Economic Review.The more advanced an economy becomes, the more it will rely on cheques and other transfers through the banking system rather than cash. The bigger a firm a€” or the more international its business a€” the less cash it will use as a proportion of its total ... The colonial administration made it clear that that the aim of this new statutory requirement was partly monetary. ... had two significant advantages over HSBC and local Chinese-owned banks in managing liquidity which lowered their anbsp;...

Title:Profits, Politics and Panics
Author:Leo Goodstadt
Publisher:Hong Kong University Press - 2007-10-01


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