| WP No.32 / 2012 |
Investment and Asset Growth of Asian Firms: Evidence for Financial Resilience in the Recent Financial Crisis
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| WP No.31 / 2012 |
What are the Challenges and Problems Facing China’s Outward Portfolio Investment: Evidence from the Qualified Domestic Institutional Investor Scheme
by Aidan Yao and Honglin Wang
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| WP No.30 / 2012 |
The Evolution of Endogenous Business Cycles
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| WP No.29 / 2012 |
Does the Tail Wag the Dog? The Effect of Credit Default Swaps on Credit Risk
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| WP No.28 / 2012 |
A Quasi-Bounded Target Zone Model – Theory and Application to Hong Kong Dollar
(Published in International Review of Economics and Finance, Vol. 37, (2015), pp. 1–17)
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| WP No.27 / 2012 |
The Effect of Commodity Price Shocks on Underlying Inflation: The Role of Central Bank Credibility
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| WP No.26 / 2012 |
Factor Market Distortions across Time, Space and Sectors in China
(Published in Review of Economic Dynamics, Volume 16, Issue 1, January 2013, Pages 39-58)
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| WP No.25 / 2012 |
Factor Intensity, Product Switching, and Productivity: Evidence from Chinese Exporters
(Published in Journal of International Economics, Volume 92, Issue 2, March 2014, Pages 349-362)
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| WP No.24 / 2012 |
Determinants and Dynamics of Price Disparity in Onshore and Offshore Renminbi Forward Exchange Rate Markets
by Ka-Fai Li, Cho-Hoi Hui and Tsz-Kin Chung
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| WP No.23 / 2012 |
Hong Kong Inflation Dynamics: Trend and Cycle Relationships with the U.S. and China
(Published in "State-Space Models: Applications in Economics and Finance" Vol. 1, pp. 113-132, with a new title "Hong Kong Inflation Dynamics: Permanent and Transitory Relationships with the USA and China".)
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| WP No.22 / 2012 |
What Makes the VIX Tick?
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| WP No.21 / 2012 |
Exchange Rates as Exchange Rate Common Factors
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| WP No.20 / 2012 |
The Chinese Corporate Savings Puzzle: A Firm-Level Cross-Country Perspective
(Published in the book “Capitalizing China" edited by Joseph P. H. Fan and Randall Morck)
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| WP No.19 / 2012 |
Innovation, Diffusion, and Trade: Theory and Measurement
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| WP No.18 / 2012 |
Capital Inflows and Asset Prices: Evidence from Emerging Asia
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| WP No.17 / 2012 |
China’s Outward Direct Investment: Evidence from a New Micro Dataset
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| WP No.16 / 2012 |
Estimating Option-Implied Correlation between iTraxx Europe Financial and Corporate Sub-Indexes
by Cho-hoi Hui, Chi-fai Lo and Chun-sing Lau
(Published in Journal of Banking and Finance, Vol. 37, (2013), pp. 3694–3703, with a new title "Option-implied correlation between iTraxx Europe Financials and Non-Financials Indexes: A measure of spillover effect in European debt crisis")
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| WP No.15 / 2012 |
Regulatory Arbitrage and International Bank Flows
(Published in the Journal of Finance, Volume 67, Issue 5, October 2012, Pages: 1845–1895)
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| WP No.14 / 2012 |
Firm Survival and Financial Development: Evidence from a Panel of Emerging Asian Economies
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| WP No.13 / 2012 |
The RMB Debate: Empirical Analysis on the Effects of Exchange Rate Shocks in China and Japan
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| WP No.12 / 2012 |
How Important are Foreign Ownership Linkages for International Stock Returns?
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| WP No.11 / 2012 |
Trilemma Policy Convergence Patterns and Output Volatility
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| WP No.10 / 2012 |
Déjà vu All Over Again: Agency, Uncertainty, Leverage and the Panic of 1857
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| WP No.09 / 2012 |
How would Capital Account Liberalisation Affect China’s Capital Flows and the Renminbi Real Exchange Rates?
by Dong He, Lillian Cheung, Wenlang Zhang and Tommy Wu
(Published in China & World Economy, 2012, Volume 20, Issue 6, pages 29–54. http://onlinelibrary.wiley.com/doi/10.1111/j.1749-124X.2012.12001.x/abstract)
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| WP No.08 / 2012 |
Productivity Growth of the Non-Tradable Sectors in China
by Dong He, Wenlang Zhang, Gaofeng Han and Tommy Wu
(Published in Review of Development Economics, Volume 18, Issue 4, pages 655–666, November 2014. The web appendix for the journal version of this paper can be accessed by the following link: https://uat.aof.org.hk/docs/default-source/hkimr/working-papers/online-appendix-hkimr.pdf)
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| WP No.07 / 2012 |
Mega-Banks’ Self-Insurance with Cocos: A Work in Progress
(Published in Global Credit Review, January 2012, Vol. 02, No. 01 : pp. 53-77)
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| WP No.06 / 2012 |
Sudden Spikes in Global Risk
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| WP No.05 / 2012 |
Financial Innovation: The Bright and the Dark Sides
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| WP No.04 / 2012 |
The Trade Comovement Puzzle and the Margins of International Trade
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| WP No.03 / 2012 |
China’s LGFV Crisis 2011: The Conflict between Local Autonomy, National Interest and Financial Reforms
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| WP No.02 / 2012 |
China’s Financial Reforms: Why Dysfunctional Banking Survives
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| WP No.01 / 2012 |
Detecting Bubbles in the Hong Kong Residential Property Market: An Explosive-Pattern Approach
by Matthew S. Yiu and Lu Jin
(Published in Journal of Asian Economics, Volume 28, October 2013, Pages 115-124, revised version with Prof. Jun Yu)
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