Painful Transitions: The Impact of Economic Growth and Government Policies on Hong Kong's 'Chinese' Banks, 1945-70
AbstractHong Kong¡¦s Chinese banks survived the loss in 1949 of their traditional role in serving the trade and currency needs of Mainland clients and the restrictions imposed on the local gold market. But they allowed foreign banks to overtake them in financing the new manufacturing sector in Hong Kong. Using unpublished archival material, this paper traces how official banking policies encouraged them to cling to their traditional business model until forced to change by a collapse in the property market.
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Bibliographic InfoPaper provided by Hong Kong Institute for Monetary Research in its series Working Papers with number 162006.
Length: 26 pages
Date of creation: Nov 2006
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-08-27 (All new papers)
- NEP-BAN-2007-08-27 (Banking)
- NEP-CNA-2007-08-27 (China)
- NEP-HIS-2007-08-27 (Business, Economic & Financial History)
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- Tobin, Damian, 2011. "Austerity and Moral Compromise: Lessons from the Development of China's Banking System," World Development, Elsevier, vol. 39(5), pages 700-711, May.
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