Unilateral Trade Liberalization and Hong Kong: Theory, History and Political Economy

UC Santa Cruz Economics Working Paper No. 413

Posted: 11 Sep 1998

See all articles by K. C. Fung

K. C. Fung

University of California at Santa Cruz

Kar-yiu Wong

University of Washington - Department of Economics

Richard Y.C. Wong

The University of Hong Kong - School of Economics and Finance

Date Written: July 1998

Abstract

Hong Kong is often perceived to be a pure model of unilateral free trade. We argue here that in a era when services are internationally tradable and when Hong Kong has become mainly a service economy, this perception is not entirely true. Nonetheless, Hong Kong is basically able to fend off the pressures of most special interest groups and is still among the freest economies in the world. We discuss further in the paper various possible reasons why Hong Kong escapes from the effects of trade policy lobbying. Given the history and institutions of Hong Kong, we also construct a simple model that attempt to capture the features of trade policy in Hong Kong.

JEL Classification: F13, F14

Suggested Citation

Fung, K.C. and Wong, Kar-yiu and Wong, Yue Chim Richard, Unilateral Trade Liberalization and Hong Kong: Theory, History and Political Economy (July 1998). UC Santa Cruz Economics Working Paper No. 413, Available at SSRN: https://ssrn.com/abstract=117529

K.C. Fung (Contact Author)

University of California at Santa Cruz ( email )

Santa Cruz, CA 95064
United States
831-459-3273 (Phone)
831-459-5900 (Fax)

Kar-yiu Wong

University of Washington - Department of Economics ( email )

Box 353330
Seattle, WA 98195-3330
United States
206-685-1859 (Phone)
206-685-7477 (Fax)

Yue Chim Richard Wong

The University of Hong Kong - School of Economics and Finance ( email )

8th Floor Kennedy Town Centre
23 Belcher's Street
Kennedy Town
Hong Kong
Not Available (Phone)
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