Economic Policy
Chapter in an edited book (author)


摘要Economic policy can be understood broadly as how government manages the overall economy through defining the role, size and scope of the public sector and structuring its fiscal system, and relatively narrowly as industrial policy, the incentives and strategies targeting at specific industries and sectors in the hope of achieving structural changes and substantiated growth of the overall economy. Heritage Foundation, a well-known U.S. think tank in the Washington, D.C. has consistently ranked Hong Kong as the freest economy in the world for the past seventeen years in a row ever since it has established its index of economic freedom. Milton Friedman (1982), the famous Nobel Prize Laureate in Economics, had also described Hong Kong as the world’s greatest experiment in lasses-faire capitalism. The key reasons for these praises for Hong Kong include the small size of its public sector, often measured by public expenditure as a percentage of GDP, and the few regulations it has on the economy. For example, Hong Kong is the only industrial economy which still does not have a sales tax. It is one of the very few major economies which does not have a maximum working hours law, anti-trust and fair competition law, and its first-ever minimum wage law was only passed in July 2010. At first glance, it seems that the economic policy of Hong Kong should be characterized as almost “government-free,” with Hong Kong well qualified for being the “capital of capitalism,” symbol of the triumph of market, having a very minimum level of government.
著者Wilson Wong, Raymond Hau-yin YUEN
編輯Wai-man Lam, Percy Luen-tim Lui, Wilson Wong
版次Expanded Second Edition
書名Contemporary Hong Kong Government and Politics
出版社Hong Kong University Press
出版地Hong Kong
頁次251 - 276
關鍵詞economic policy, public finance, lasses-faire capitalism, government intervention, Hong Kong economic governance

上次更新時間 2019-03-04 於 15:06