Profits, Politics and Panics: Hong Kong's Banks and the Making of a Miracle Economy, 1935-1985

Notes

Notes The following abbreviations are used in the notes: CO: United Kingdom Colonial Office files in the Public Records Office London H~l~R Far Eastern Economic Revieω GIS: Government Information Services (Daily press releases of the Hong Kong government) HH: Hoηg Kong Hansard (Official report of the proceedings of the Hong Kong Legislative Council) HKRS: Government files in the Public Records Office Hong Kong INTRODUCTlON 1. Y C. Jao, 'The Rise of Hong Kong as a Financial Centre', Asian Surv句， Vol. 19, No.7 叮uly 1979) , p. 687. 2. Howard Curtis Reed, ‘The Ascent of Tokyo as an International Financial Center', Joωnalo fInter間的nalBusiness Studies,Vol. 11, No. 3 (Winter 1980), 'Table 3. Rankings of Asian International Bank Centers', p. 28; E. Stuart Kirby,‘Hong Kong and the British Position in China', Annals, Vol. 277 (September 1951) , pp. 199-200. 3. Measured by comparative levels of non-performing loans and problem assets. Cliffor吐 D. Clark and Jung-Chao Liu,‘The Media, the Judiciary, the Banks and the Resilience of East Asian Economies', in Tsu-Tan Fu et al (eds) , Productivity αnd Economic Perfoγmance in the Asia-P，白α ific Region (Cheltenham: Edward Elgar, 2002) , p. 61 Table 3.3, p. 52 4. Anson Chan, Chief Secretary, GIS, 20 January 1998. 5. Y C.Jao, 7、heAsiaη Financial Crisis and the 0γdeal ofHong Kong (Westport: Quorum Books, 2001) , p. 117. 6. Joseph Bisignano, ‘Suggestions for Improvemen的'， in Gerard Caprio,Jr et al (eds) , Pγeventing Bank Cris的: Lessoηs from Recent Global Bank F'ailu附 (Washington: World Bank, 1998) , p. 295. 7. Ricardo,‘Development of Banking in Hong Kong during 1955', FEER, 2 February 1956. 8. Y c.Jao,‘Monetary System and Banking Structure', in H. C. Y Ho and L. C. Chau (eds) , The Economic Syst，仰n ofHong Kong (Hong Kong: Asian Research Service, 1988) , 224 Notes to Pages 3-5 p. 59. In 1978, deposits from customers with the 241 DTCs were equivalent to 17 per cent of the total with licensed banks. By 1982, the figure had risen to 22 per cent, only to fall to 10 per cent by 1987, by which date 94 had closed their doors. Hong Kong AnnuαlDig， 的t ofStαtist悶， 1988Edition (Hong Kong: Census and Statistics Departme肘， 1988) , pp. 125-8. 9. Gordon Redding,‘Culture and Business in Hong Kong', in Wang Gangwu and Wong Siu Lun (eds) , Dynamic Hong Kong: Business & Culture (Hong Kong: Centre of Asian Studies, 1997), p. 102. 10. M. 2. Acting Financial Secretary to Governor, 10 September 1968. Hong Kong HKRS229-1-807 ‘Financial Aid (Including Loans) Received from the United Kingdom and Other Governments Record of ...'; (10) Governor to Secretary of State for the Colonies, 28 March 1962. HKRS163-1-1007 ‘Finance Estimated Capital Investment in Hong Kong' 11. 'Report of the Industrial Bank Committee' (Hong Kong Government, january 1960, mimeo) , p. 6; M. 10. TID to SID, 3 November 1967. HKRS1056-1-194 ‘Industrial Survey 一- Policy'; Catherine R. Schenk,‘Regulatory Reform in an Emerging Stock Market: the Case of Hong Kong, 1945-86', Financial History Rev帥， 11.2 (2004) , pp. 5-7. 12. Ronald Findlay and Stanislaw Wellisz,‘Hong Kong' , in Ronald Findlay and Stanislaw Wellisz (eds) , The PoliticalEconomy ofPover泓 Equi旬" and Growth. Five Small Open Economies (New York: Oxford University Press, 1993) , p. 47; Henry Smith, John Stuart Mill's Other 1sland. A Study of the Economic Develo少ment of Hong Kong (London: Institute of Economic Mfairs, 1966) , pp. 18-21 13. Christopher Howe,‘Growth, Public Policy and Hong Kong's Economic Relationship with China', China Quaγter，秒， No. 95 (September 1983) , p. 512. 14. Frederick Ma, Secretary for Financial Services and the Treasury, HH, 3 july 2002, p. 8208. The trade data suggest that uninterrupted growth probably began in the mid-1950s. 15. Tsang Shu-ki,‘The Economy', in Donald H. McMillen and Man Si-wei (eds) , The Other Hong Kong Report 1994 (Hong Kong: Chinese University Press, 1994) , p. 132. 16. Christopher Patten, Governor, G1S, 19 November 96. 17. Henry Y Wan, jr and jason Weisman,‘Hong Kong: The Fragile Economy of Middlemen', Revieω of1: ηternatzonαl Economics， Vol. 7, No. 3 (1999) , p. 410. 18. F. C. Benham, 'The Growth ofManufacturing in Hong Kong', 1nternatio叩l Af fair吉， Vol. 32, No. 4 (October 1956) , pp. 460-1. 19. Anne O. Krueger,‘Policy Lessons from Development Experie Notes to Pages 5-9 225 early and persuasive...