The international transmission of shocks in the global financial system has always been an important issue for policy makers. Different types of foreign shocks have different effects and policy implications. In this paper, we examine the effects of the recent U.S. financial crisis and the...

This working paper was written by Simon H. Kwan (Federal Reserve Bank of San Francisco).This paper examines the impact of deposit rate deregulation on the market value of banks in Hong Kong. We do not find that the release of the Consumer Council’s Report “Are Hong Kong Depositors Fairly...

This paper studies the relation between the complexity of global banking organizations and their foreign banking operations (FBOs) in Hong Kong. Our empirical evidence indicates that the complexity of the parent company has significant effects on their Hong Kong branch's business model,...