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dc.contributor.authorLiew, Leongen_US
dc.contributor.authorX. Wu, Harryen_US
dc.date.accessioned2017-05-03T12:15:00Z
dc.date.available2017-05-03T12:15:00Z
dc.date.issued2002en_US
dc.date.modified2007-03-27T02:48:57Z
dc.identifier.issn03057410en_US
dc.identifier.doi10.1017/S0009443902000268en_AU
dc.identifier.urihttp://hdl.handle.net/10072/7159
dc.description.abstractExpectations and beliefs are important forces that can influence financial markets. Using results from a survey, this article examines the beliefs of currency traders in Hong Kong's financial institutions regarding the RMB and HK$/US$ pegs. In particular, it examines the attitudes of these currency traders towards the intervention by the Hong Kong Monetary Authority (HKMA) in Hong Kong's stock and futures markets to defend the HK$/US$ peg during the Asian crisis in 1998. Contrary to expectation, not all currency traders in Hong Kong were diehard devotees of the free market and more were in support of the intervention than against. Degree of identification with Hong Kong was found to be important, influencing attitudes towards government intervention. An inference from the survey is that the intervention was popular with Hong Kong residents and that future intervention by the HKMA is likely if faced with similar speculative attacks on the HK$.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_AU
dc.format.extent100889 bytes
dc.format.extent45695 bytes
dc.format.mimetypeapplication/pdf
dc.format.mimetypetext/plain
dc.languageEnglishen_US
dc.language.isoen_AU
dc.publisherCambridge University Pressen_US
dc.publisher.placeUnited Kingdomen_US
dc.publisher.urihttp://journals.cambridge.org/action/displayJournal?jid=CQY&bVolume=yen_AU
dc.relation.ispartofpagefrom441en_US
dc.relation.ispartofpageto458en_US
dc.relation.ispartofjournalThe China Quarterlyen_US
dc.relation.ispartofvolume170en_US
dc.subject.fieldofresearchcode349901en_US
dc.titleNot all currency traders believe in unfettered free markets: currency speculation and market intervention in Hong Kongen_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.facultyGriffith Business School, Department of International Business and Asian Studiesen_US
gro.rights.copyrightCopyright 2002 Cambridge University Press : Reproduced in accordance with the copyright policy of the publisher : This journal is available online - use hypertext links.en_AU
gro.date.issued2002
gro.hasfulltextFull Text


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