Printed on 22 February 2023
E book Description: On the twenty fifth anniversary of the institution of the Hong Kong Particular Administrative Area of the Folks’s Republic of China, this ebook presents the primary monographic research of the Hong Kong Primary Legislation as an financial doc. The Primary Legislation codifies what Gonzalo Villalta Puig and Eric C Ip name free market constitutionalism, the logic of Hong Kong’s financial liberty because the freest market financial system on the planet.
This ebook, which is the end result of a number of years of research with the monetary help of the Basic Analysis Fund of Hong Kong’s Analysis Grants Council, evaluates the general public selection rationale of the Primary Legislation and its projection on the Hong Kong financial system, with a give attention to the coverage growth of financial liberty each internally and externally. Within the educational custom of James M Buchanan’s constitutional political financial system, the ebook opens with a conceptualisation of free market constitutionalism in Hong Kong. It research the origins of this idea within the Nineteenth-century classically liberal frequent legislation and the way it developed right into a Hayekian laissez-faire conference underneath British colonial rule, was codified into the Primary Legislation and is interpreted and utilized by the branches of the Authorities of the Area. The ebook closes with remarks on the way forward for Hong Kong’s free market constitutionalism in face of current challenges because the yr 2047 approaches and the 50 years of ‘unchanged’ capitalist system underneath the Primary Legislation go.
This ebook will enchantment to college students, students and practitioners of legislation, economics, political science and public administration. It can particularly enchantment to these with an curiosity in Hong Kong legislation, worldwide financial legislation or comparative constitutional legislation.
‘[G]overnments and regulators typically seem to me to overlook that the amount and complexity of legal guidelines and rules, or the extent of tax, shouldn’t be comparable to to discourage business exercise and stifle entrepreneurism. … Because the authors of this ebook present, Hong Kong shouldn’t be in peril of falling into this specific lure: the Area is uncommon within the extent to which it leaves individuals within the monetary and business worlds free to hold on their companies as they see match with out in depth legislative or regulatory interference or extreme taxation.’
The Proper Honourable the Lord Neuberger of Abbotsbury, Non-Everlasting Choose of the Hong Kong Court docket of Remaining Enchantment; former President of The Supreme Court docket of the UK.
‘[T]he current quantity makes an unique and distinctive contribution to each the worldwide and home understanding of the essence of the “Hong Kong system” that constitutes one of many “Two Techniques” underneath “One Nation, Two Techniques”. The authors level out that from the authorized and constitutional standpoint, the Hong Kong system is one in every of “free market constitutionalism”.’
Professor Albert HY Chen, Cheng Chan Lan Yue Professor of Constitutional Legislation at The College of Hong Kong; Member of the Committee for the Primary Legislation of the Hong Kong Particular Administrative Area underneath the Standing Committee of the Nationwide Folks’s Congress of the Folks’s Republic of China.