The rise of Hong Kong and Tokyo as international financial centres after 1950

Schenk, C.R. (2007) The rise of Hong Kong and Tokyo as international financial centres after 1950. In: Cottrell, P.L., Lange, E. and Olsson, U. (eds.) Centres and Peripheries in Banking: The Historical Development of Financial Markets. Ashgate, pp. 81-100. ISBN 9780754661214

Abstract

One of the most striking aspects of the 1960s and 1970s was the dramatic increase in the volume of international financial activity and the acceleration of the pace of financial innovation. Accompanying these two linked developments was the geographical dispersion of financial activity and the rise of new international financial centres. This paper examines this process in Hong Kong and Tokyo. Particular emphasis is placed on how the very different regulatory frameworks of these two cities affected their prospects and the different models of their emergence as IFCs. For Tokyo, the case of the Hongkong and Shanghai Bank is used as an example of the nature of foreign bank activity. The paper concludes with some reflections on how the historical record informs our understanding of the performance of these two centres during the 1990s.

• Item Type: Book Sections
• Status: Published
• Glasgow Author(s) Enlighten ID: Schenk, Professor Catherine
• Authors: Schenk, C.R.
• Subjects: H Social Sciences > HC Economic History and Conditions; H Social Sciences > HG Finance
• College/School: College of Social Sciences > School of Social and Political Sciences > Economic and Social History
• Publisher: Ashgate
• ISBN: 9780754661214
• Copyright Holders: Copyright © 2007 Ashgate
• First Published: First published in Centres and Peripheries in Banking: The Historical Development of Financial Markets
• Publisher Policy: Reproduced in accordance with the copyright policy of the publisher.

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Project Code	Award No	Project Name	Principal Investigator	Funder's Name	Funder Ref	Lead Dept
41341	1	The experience of exchange rate regime change among developing countries 1968-78	Catherine Schenk	Economic & Social Research Council (ESRC)	ES/D001064/1	SPS - ECONOMIC & SOCIAL HISTORY