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This dissertation, "Hong Kong Government Budget: a Policy Perspective" by Chiu-ming, Chik Lau, 戚劉昭明, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. DOI: 10.5353/th_b3197472 Subjects: Budget - China - Hong Kong Program budgeting - China - Hong Kong Budget Economic policy
This book is a comprehensive, scholarly account of Hong Kong Public Budgeting, spanning from the pre-1997 British rule to the post-1997 Chinese rule. Transcending the existing comparative budgeting studies which are either central-government focused or symmetric local-government focused, this book presents Hong Kong Public Budgeting as a distinctive case of territorial autonomy. It offers historical and comparative analyses of Hong Kong Public Budgeting, tracing the evolution of budgetary institutions and budgetary decision-making and examining the critical issues of budget openness, budget oversight, and budget allocation. This book will be of key interest to scholars and students of comparative budgeting studies. It will also be an excellent text for public budgeting instructors and students in East Asia and Hong Kong.
The huge amount of land premium which the Hong Kong Government receives over the years from land sale and lease modifications is legendary. It gives rise to claims that the Hong Kong Government accumulates its fiscal reserve from the sale of land, and it should be able to fund a much higher level of recurrent expenditure in much needed services. This paper points out that within the structure of government budget, land premium revenue is credited to the Capital Works Reserve Fund, from which capital works expenditure is funded. The legend that the Hong Kong Government's fiscal reserve owes much to the contribution of the land premium is true before 1997 but has turned into a myth since the changeover of sovereignty. Since 1997, the land premium revenue is just sufficient to pay for the capital works expenditure, with a slight surplus. The reality seems to be that since 1997, the land premium enables Hong Kong to build a first-rate transportation infrastructure, schools, hospitals and other public facilities.
Fully covering the political and administrative structures of Hong Kong's system of government, this text--now in its fifth edition--is regarded by many as the definitive work on the subject. As readable and accessible as it is thorough and detailed, the book's most recent edition features an additional chapter on the political and governmental developments that Hong Kong has encountered since it returned to Chinese rule in July 1997 under the "one country, two systems" policy.
Is Hong Kong's approach to economic policy really as 'hands off' as we are led to believe? How are economic policies determined within Hong Kong's unique governance structure? Tony Latter draws on his deep knowledge of Hong Kong drawn from years in senior positions in the Hong Kong Monetary Authority and Government Secretariat to answer these two central questions about Hong Kong's economic management. He provides both general and specialist readers with an original and wide-ranging exploration of the workings of Hong Kong's economy and the way its economic policies are determined. Challenging Hong Kong's 'hands off' image, the author finds and critiques copious instances of government intervention over the years. He also examines how the government's much vaunted budgetary discipline is less 'laissez faire' than the numbers suggest. Overall, policy formation seems to lack a rigorous, consistent analytical framework. Officials often do not appreciate the distinction between violations of the 'hands off' principle that desirably improve the 'supply side', and violations which foster particular sectors and special interests, frequently influenced by business heavyweights with direct access to the territory's leadership. This book should be read by anyone interested in Hong Kong's economic policy and the processes that underlie it. It will appeal not only to general readers, but to business and professional people who have to function within this unique system of economic management, as well as to academics and researchers in the fields of economics, business or politics.
Reference book on economic growth, economic policy and social policy trends from 1960 to 1980 in Hong Kong - covers economic structure, industrial policy, exports, land and housing policy, social development, national budget surpluses, public finance and issues relating to laissez-faire policies. Diagrams, graphs, photographs and references.