2003

WP No.24 / 2003	Wage-Price Dynamics, the Labour Market and Deflation in Hong Kong by Weshah RAZZAK (Research Fellow) Full Text Summary
WP No.23 / 2003	China: A Stabilizing or Deflationary Influence in East Asia? The Problem of Conflicted Virtue by Ronald McKINNON and Gunther SCHNABL Full Text Summary (Published in Emergent Trilateralism in the Pacific Basin: Economic Foundations of a New Alliance between China, Japan, and the United States, ed. K.C.Fung, Hiro Lee, and David Roland-Holst, 2004.)
WP No.22 / 2003	Bank Lending and Property Prices: Some International Evidence by Boris HOFMANN (Research Fellow) Full Text Summary
WP No.21 / 2003	Growth and Convergence in a Two-region Model: The Hypothetical Case of Korean Unification by Michael FUNKE (Research Fellow) and Holger STRULIK Full Text Summary (Published in Journal of Asian Economics, 16, 2005, pp. 255-279)
WP No.20 / 2003	Central Bank Governance: Common Elements or Different Models? by Viv HALL (Research Fellow) Full Text Summary
WP No.19 / 2003	Asia's Debt Capital Markets: Appraisal and Agenda for Policy Reform by Paul LEJOT, Douglas ARNER (Research Fellow), Liu QIAO, Mylene CHAN and Marshall MAYS Full Text Summary
WP No.18 / 2003	Currency Unions, Trade Flows, and Capital Flows by James YETMAN (Research Fellow) Full Text Summary (Published in Pacific Economic Review, Volume 12, Issue 2, Page 189-204, May 2007)
WP No.17 / 2003	Foreign versus domestic factors as source of macroeconomic fluctuations in Hong Kong by Hans GENBERG (Research Fellow) Full Text Summary (Published in Pacific Economic Review, 10(2), 2005, pp. 191-216 under a new title: Wage-Price Dynamics and Deflation in Hong Kong)
WP No.16 / 2003	Intervention in the Foreign Exchange Market in a Model with Noise Traders by Paul De GRAUWE (Research Fellow) and Marianna GRIMALDI Full Text Summary (Published in Exchange Rates, Capital Flows and Policy, Edited by Rebecca Driver, Peter Sinclair and Christoph Thoenissen, Published by Routledge, Page 369-406)
WP No.15 / 2003	China, Hong Kong, and Taiwan: A Quantitative Assessment of Real and Financial Integration by Yin-Wong CHEUNG (Research Fellow), Menzie D. CHINN and Eiji FUJII Full Text Summary (Published in China Economic Review, 14, 2003, pp. 281-303)
WP No.14 / 2003	Ownership concentration and executive compensation in closely held firms: evidence from Hong Kong by Yan-Leung CHEUNG, Aris STOURAITIS and Anita WONG Full Text Summary (Published in Journal of Empirical Finance, Volume 12, Issue 4, Pages 511-532, September 2005)
WP No.13 / 2003	Deflation, Credit and Asset Prices by Charles GOODHART and Boris HOFMANN (Research Fellow) Full Text Summary (Deflation: Current and Historical Perspective, Edited by Richard Burdekin and Pierre Siklos, Cambridge University Press)
WP No.03 / 2003	East Asian Equity Markets, Financial Crises, and the Japanese Currency by Yan-Leung Cheung, Yin-Wong CHEUNG (Research Fellow) and K.C. NG Full Text Summary (Published in Journal of the Japanese and International Economies, Volume 21, Issue 1, Page 138-152, March 2007)
WP No.10 / 2003	Dissecting the PPP Puzzle: The Unconventional Roles of Nominal Exchange Rate and Price Adjustments by Yin-Wong CHEUNG (Research Fellow), Kon S. LAI and Michael BERGMAN Full Text Summary (Published in Journal of International Economics, 64, 2004, pp. 135-150)
WP No.12 / 2003	Bank Lending and Property Prices in Hong Kong by Stefan GERLACH and Wensheng PENG Full Text Summary (Published in Journal of Banking and Finance, Vol. 29, 2005, pp. 461-481)
WP No.11 / 2003	The East Asian Dollar Standard, Fear of Floating, and Original Sin by Ronald McKINNON and Gunther SCHNABL Full Text Summary (Review of Development Economics, Volume 8, No.3, Page 331-360, August 2004)
WP No.09 / 2003	An Analysis of Hong Kong Export Performance by Yin-Wong CHEUNG (Research Fellow) Full Text Summary (Published in Pacific Economic Review, Volume 10, Issue 3, Page 323-340, Oct 2005)
WP No.08 / 2003	The Global Implications of Regional Exchange Rate Regimes by Harris DELLAS (Research Fellow) and George TAVLAS Full Text Summary (Published in Journal of International Money and Finance, Volume 24, Issue 2, Page 243-255, March 2005)
WP No.07 / 2003	Monetary Policy in Open Economies under Imperfect Information by Harris DELLAS (Research Fellow) Full Text Summary
WP No.06 / 2003	News Spillovers in the Sovereign Debt Market by Amar GANDE and David C. PARSLEY (Research Fellow) Full Text Summary (Published in Journal of Financial Economics, 75(3), 2005, pp. 691-734)
WP No.05 / 2003	FDI Contribution to Capital Flows and Investment in Capacity by Assaf RAZIN (Research Fellow) Full Text Summary (Published in CESifo Economic Studies, 49(3), 2003 under a new title: FDI Flows and Domestic Investment: Overview)
WP No.04 / 2003	Business Cycle Correlations in Asia-Pacific by Mark CROSBY (Research Fellow) Full Text Summary (Published in Economics Letters, 80(1), 2003, pp. 35-44)
WP No.02 / 2003	Synchronized Business Cycles in East Asia and Fluctuations in the Yen/Dollar Exchange Rate by Ronald McKINNON and Gunther SCHNABL Full Text Summary (Published in The World Economy, Volume 26, Issue 8, Page 1067-1088, Aug 2003)
WP No.01 / 2003	Inflation in Hong Kong, SAR - In Search of a Transmission Mechanism by Hans GENBERG (Research Fellow) and Laurent PAUWELS (Research Fellow) Full Text Summary (Published in Pacific Economic Review, 10(2), 2005, pp. 191-216 under a new title: Wage-Price Dynamics and Deflation in Hong Kong)