Table of Contents

Economic Freedom: Theory, Measurement and Concepts; The Hong Kong Brand of Economic Freedom; GDP: Performance, Volatility and Comparison; Total Factor Productivity: Performance of Industries and Sectors; Small- and Medium-Sized Enterprises: Diversity and Productivity; Knowledge-Based Economy; Measurement of Economic Efficiency; Competition; The Finance Sector: Rankings, Growth and Challenges; The Linked Exchange Rate System and Currency Attacks; Positive Non-Intervention: Practices, Challenges and Interpretations; Property, Real Estate and Housing; Inequality, Poverty and Opportunity; Economic Integration with the Mainland Economy; Trade Agreements and Globalization; Civic Establishments and Politics; The Economic Freedom Path of Hong Kong.

Reviews

At a time of transition and turbulence in the global economy, economic freedom is an especially important subject for reflection and debate. The author uses the seminal case of Hong Kong to examine what it means to implement the idea and sustain it in practice. In this carefully crafted book, students, policymakers, and market participants will learn much of great value. Its implications extend far beyond East Asia. -- Louis W Pauly "Canada Research Chair in Globalization and Governance, Munk School of Global Affairs, University of Toronto"

For more than three decades, the economy of Hong Kong has been the freest in the world. This elevates its importance for those seeking to understand the growth and development process. -- James Gwartney "Co-author, Economic Freedom of the World Annual Report, The Fraser Institute, Canada"

Hong Kong is a small open economy that has achieved remarkable economic growth after the Second World War. Why has it been so successful? This book uncovers a variety of dynamic features that has contributed to its great success. We will see how economic freedom has functioned as an infrastructure for Hong Kong's economic development. -- Shin-ichi Fukuda "Director, Center for International Research on the Japanese Economy, University of Tokyo"

Hong Kong is highly regarded as one of the most successful models of a small open economy. The author offers a far-sighted view on economic freedom as the chief element of the success in this book where the rationale and empirical data are brilliantly laid out. This well-written case study will lead you to the understanding that economic freedom is the most powerful tool in exploring the past, present and future of Hong Kong. The author's in-depth analysis will be of great use to nations around the world including Korea, which gives me confidence to recommend this book to you without any hesitation. -- Tae-Shin Kwon "Vice Chairman, Presidential Council on National Competitiveness, South Korea"

In this timely book, the author contributes valuable insights on the critical role that economic freedom has played in Hong Kong's dynamic economic achievements. At times challenging, the author's scholarly yet practical volume offers important policy guidance for other economies, particularly at this critical juncture for the global economy. -- Edwin J Feulner "President of The Heritage Foundation, Washington DC"

The book provides a far reaching global overview of specific topics that are then tied to the economic reality of modern Hong Kong. Detailed and specific, the theory and on-the-ground reality collide to provide a comprehensive view of Hong Kong's economy. -- G Andrew Work "Co-Founder and Director, The Lion Rock Institute, Hong Kong SAR"

This book is full of fascinating and new details about how Hong Kong became the economic power it is today. It identifies the key principles, such as economic and personal freedom, that underpin this astonishing development. -- Eamonn Butler "Director, Adam Smith Institute, UK"