0人評分過此書
Macroeconomic Linkages between Hong Kong and Mainland China
作者
：
出版日期
：
2008
閱讀格式
：
PDF
ISBN
：
9789629371616
- Foreword Joseph YAM
- １. Introduction Dong HE
-
２. The Macroeconomic Impact on Hong Kong of Hypothetical Mainland Shocks─Dong HE， Chang SHU， Raymond YIP and Wendy CHENG
-
1. Introduction
-
2. The Mainland Factor in Hong Kong’s Economic Growth
-
3. Shock Scenarios
-
3.1 External shocks
-
3.2 Domestic shocks
-
-
4. Modelling Approach
-
5. Macroeconomic Impacts on the Mainland
-
5.1 Shock transmission channels
-
5.2 Magnitudes of impacts
-
-
6. Macroeconomic Impacts on Hong Kong
-
6.1 Shock transmission channels
-
6.2 Magnitudes of impacts
-
6.3 Caveats
-
-
7. Historical Perspectives
-
8. Concluding Remarks
-
Technical Appendix
-
-
３. Hong Kong’s Economic Integration and Business Cycle Synchronisation with Mainland China and the US─Hans GENBERG， Li-gang LIU and Xiangrong JIN
-
1. Introduction
-
2. Economic Integration among Hong Kong， the Mainland， and the US
-
2.1 Trade integration
-
2.2 FDI exposure
-
2.3 Tourism related cross-border consumption
-
2.4 Money market integration
-
2.5 Stock market integration
-
-
3. Business Cycle Co-movements through Time
-
3.1 Correlations of GDP growth
-
3.2 Correlation of output gaps
-
3.3 Principal component analysis
-
-
4. The Transmission of Economic Shocks
-
5. Conclusion and Policy Implications
-
-
４. Hong Kong’s Trade Patterns and Trade Elasticities─Li-gang LIU， Kelvin FAN and Jimmy SHEK
-
1. Introduction
-
2. Features of Hong Kong’s External Trade
-
2.1 Trade flows by major trading partners and products
-
2.2 Merchandise flows between Hong Kong， the Mainland，and the rest of the world
-
-
3. Empirical Estimation
-
4. Concluding Remarks
-
Appendix
-
-
５. Service Exports: The Next Engine of Growth for Hong Kong?─Frank LEUNG， Kevin CHOW， Jessica SZETO and Dickson TAM
-
1. Introduction
-
2. Service Exports as a Key Driver of Economic Growth
-
2.1 Offshore trade
-
2.2 Exports of financial services
-
2.3 Exports of travel services
-
-
3. Challenges and Opportunities Ahead
-
3.1 Offshore trade
-
3.2. Financial service exports
-
3.3 Travel service exports
-
3.4 Possible constraints faced by the service providers
-
-
4. Potential Gains from Growing Integration with China
-
4.1 Offshore trade
-
4.2 Financial service exports
-
4.3 Travel service exports
-
4.4 Projected contribution from service exports to GDP
-
-
5. Conclusions
-
Appendix
-
-
６. How Much of Hong Kong’s Import from Mainland China Is Retained for Domestic Use?─Frank LEUNG and Kevin CHOW
-
1. Overview
-
2. Estimation of Retained Imports from China
-
3. The Breakeven Re-export Margin for China
-
4. Round-tripping Trade and the Measurement of Re-export Margins
-
5. Retained Imports and Imported Inflation
-
6. Conclusion
-
-
７. Cross-Border Fund Flows and Hong Kong Banks’ External Transactions vis-à-vis Mainland China─Joanna SHI and Andrew TSANG
-
1. Introduction
-
2. Channels of Fund Flows
-
3. Factors behind Changes in Net External Transactions vis-à-vis Mainland China
-
3.1 Goods Account
-
3.2 Service Account
-
3.3 Factor Income Account
-
3.4 Capital and Financial Account
-
3.5 Residual Fund Flows
-
-
4. Implications
-
5. Conclusion
-
-
８. How Do Macroeconomic Developments in Mainland China Affect Hong Kong’s Short-term Interest Rates?─Dong HE， Frank LEUNG and Philip NG
-
1. Introduction
-
2. Narrative Description of Historical Data
-
3. Statistical Description of Data Using A VAR Model
-
3.1 Dynamic effects of US and Mainland shocks on the three-month HIBOR
-
3.2 Relative importance of US and Mainland shocks
-
3.3 Has the influence of Mainland shocks become more important in recent years?
-
3.4 Historical decomposition of HIBOR
-
-
4. Concluding Remarks
-
Appendix
-
-
９. Outward Portfolio Investment from Mainland China:How Much Do We Expect and How Large a Share Can Hong Kong Expect to Capture?─Lillian CHEUNG， Kevin CHOW， Jian CHANG and Unias LI
-
1. Introduction
-
2. Capital Account Liberalisation in China
-
3. Where China Stands—An International Comparison
-
3.1 An international comparison of foreign investment position
-
3.2 Implications of Japan’s capital account liberalisation experience for China
-
3.3 Allocation patterns of international portfolio investment
-
-
4. Estimating Portfolio Investment from Mainland China
-
4.1 The model
-
4.2 Estimation results
-
4.3 Potential outward portfolio investment from China
-
4.4 Assumptions
-
4.5 Projections
-
-
5. How Large a Share Can Hong Kong Expect to Capture
-
5.1 The gravity model
-
5.2 Estimation results
-
5.3 Share of Mainland China’s outward portfolio investment captured by Hong Kong
-
5.4 Assumptions
-
5.5 Projections
-
-
6. Conclusion and Policy Implications
-
6.1 Policy implications
-
6.2 Caveats
-
-
Appendix
-
-
１０. Share Price Disparity in Chinese Stock Markets─Tom FONG， Alfred WONG and Ivy YONG
-
1. Introduction
-
2. Preliminary Analysis
-
3. Model Specification
-
4. Empirical Results
-
5. Final Remarks
-
Appendix
-
-
１１. Price Convergence between Dual-listed A and H Shares─Wensheng PENG， Hui MIAO and Nathan CHOW
-
1. Introduction
-
2. Stylised facts and competing hypotheses
-
2.1 Data and stylised facts
-
2.2 Arbitrage and price convergence hypothesis
-
2.3 Differential demand， information asymmetry and price divergence hypothesis
-
-
3. Empirical Analysis
-
3.1 Panel unit root test
-
3.2 Impact of price gaps on A and H share price dynamics
-
-
4. Conclusion and policy implications
-
Appendix
-
- 出版地 ： 香港
- 語言 ： 英文
評分與評論
請登入後再留言與評分
PDF
PDF
PDF
PDF
PDF
