'Parasitic invasions' or sources of good governance: constraining foreign competition in Hong Kong banking, 1956-81

Schenk, C.R. (2009) 'Parasitic invasions' or sources of good governance: constraining foreign competition in Hong Kong banking, 1956-81. Business History, 51(2), pp. 157-180. (doi:10.1080/00076790902726517)

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Abstract

This paper investigates the operation and impact of the moratorium on new banking licences imposed in Hong Kong in 1965 and the claims that foreign banks destabilised the banking system and drained resources from the colony. First it examines foreign banks' attempts to circumvent the moratorium through claims of special circumstances and buying interests in local banks, and secondly it examines the efforts of incumbents to extend barriers to non-bank financial institutions and to branches of foreign banks. The general conclusions are that while the moratorium was aimed at increasing the stability of the banking system, it had the effect of decreasing the regulatory breadth of the government, and reducing incentives for mergers and acquisitions that might have improved governance.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Schenk, Professor Catherine
Authors: Schenk, C.R.
Subjects:H Social Sciences > HC Economic History and Conditions
H Social Sciences > HF Commerce
College/School:College of Social Sciences > School of Social and Political Sciences > Economic and Social History
Journal Name:Business History
Publisher:Routledge (Taylor and Francis)
ISSN:0007-6791
Copyright Holders:Copyright © 2009 Routledge
First Published:First published in Business History 51(2):157-179
Publisher Policy:Reproduced in accordance with the copyright policy of the publisher.

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Project CodeAward NoProject NamePrincipal InvestigatorFunder's NameFunder RefLead Dept
413411The experience of exchange rate regime change among developing countries 1968-78Catherine SchenkEconomic & Social Research Council (ESRC)ES/D001064/1Economic and Social History