This paper examines the effects of interest rate regulation, and subsequent deregulation, on the efficacy of monetary policy and rigidity of retail bank deposit rates in Hong Kong. Using an error correction model, we find that interest rate deregulation increases the efficacy of monetary policy...

This study examines the conduct of monetary policy and the setting of deposit and lending rates in China. As China is still in the transitional stage from a centrally planned economy to a market economy, State-Owned Enterprises and banks are being restructured and financial markets are being...