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China: Hong Kong Special Administrative Region Recent Economic Developments

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  • International Monetary Fund

Abstract

This paper reviews economic developments in Hong Kong Special Administrative Region during 1997–98. The paper highlights that beginning in mid-1997, the regional crisis began to erode confidence in Hong Kong’s exchange rate and prompted a series of speculative attacks. Pressures on the exchange rate led to sharply higher interest rates, weakened domestic demand, and clouded growth prospects for 1998. The paper provides an update on the transition issues since the transfer of sovereignty on July 1, 1997. Cyclical developments and trends in domestic and external demand and the property market are also analyzed.

Suggested Citation

  • International Monetary Fund, 1998. "China: Hong Kong Special Administrative Region Recent Economic Developments," IMF Staff Country Reports 1998/041, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:1998/041
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    Cited by:

    1. Jane W. Moy & Vivienne W.M. Luk, 2003. "The Life Cycle Model as a Framework for Understanding Barriers to SME Growth in Hong Kong," Asia Pacific Business Review, Taylor & Francis Journals, vol. 10(2), pages 199-220, December.
    2. Sin-Yu Ho & Nicholas M Odhiambo, 2015. "Stock market performance in Hong Kong: an exploratory review," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 29(1), pages 47-61, May.

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