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Macau Periodical Index (澳門期刊論文索引)
- Author
- Gu, Xinhua, Li, Sheng
- Title
- Reform to transform growth into development
- Journal Name
- 澳門研究
- Pub. Info
- Jun. 2008, No.46, pp. 57-70
- Abstract
- Paragraph Headings: 1. Introduction 2. The reform is required for four monetary and financial reasons 2.1. Four important reasons for the reform 2.1.1. Adapting to new economic conditions 2.1.2. Avoiding big loss due to effective Pataca depreciation 2.1.3. Curbing emerging monetary instability 2.1.4. Overcoming low financial viability 2.2. Reasons for the Reluctance to the Reform 2.2.1. As for currency convertibility 2.2.2. As for policy confidence 2.2.3. As for speculative attack 2.2.4. As for political autonomy 3. The reform is required to ensure long-term prosperity for Macau 4. Policy recommendations 4.1. Fighting pathological gambling 4.2. Closing policy loopholes 4.3. Setting up a sovereign wealth fund 4.4. Restricting foreign investment 4.5. Importing talent and strengthening education 4.6. Widening integration with the Mainland 5. Conclusion Figures: 1. High Savings (S) and Excess Savings over Investment (I)