2014

WP No.32 / 2014	Shadow Banking and Bank Capital Regulation by Guillaume PLANTIN (Research Fellow) Full Text Summary (Published in the Review of Financial Studies, Volume 28, Issue 1, January 2015, Pages 146-175)
WP No.31 / 2014	Betting the House by Òscar Jordà, Moritz SCHULARICK (Research Fellow) and Alan M. Taylor Full Text Summary (Published in Journal of International Economics, Volume 96, Supplement 1, July 2015, Pages S2-S18)
WP No.30 / 2014	Performance Analysis of Liquidity Indicators as Early Warning Signals by Chung-hua SHEN (Research Fellow) and Ting-Hsuan Chen Full Text Summary
WP No.29 / 2014	Credit Booms, Banking Crises, and the Current Account by Scott DAVIS (Research Fellow), Adrienne Mack, Wesley Phoa and Anne Vandenabeele Full Text Summary
WP No.28 / 2014	The Macroeconomic Effects of Debt- and Equity-Based Capital Inflows by Scott DAVIS (Research Fellow) Full Text Summary
WP No.27 / 2014	The Local Government Crisis 2007-2014: When China’s Financial Management Faltered by Leo F. GOODSTADT (Research Fellow) Full Text Summary
WP No.26 / 2014	China’s Banking: How Reforms Lost Momentum by Leo F. GOODSTADT (Research Fellow) Full Text Summary
WP No.25 / 2014	The Great Mortgaging: Housing Finance, Crises, and Business Cycles by Òscar Jordà, Moritz SCHULARICK (Research Fellow) and Alan M. Taylor Full Text Summary
WP No.24 / 2014	Network Effects in Currency Internationalisation: Insights from BIS Triennial Surveys and Implications for the Renminbi by Dong He and Xiangrong Yu Full Text Summary
WP No.23 / 2014	Financial Crisis, Unconventional Monetary Policy and International Spillovers by Qianying Chen, Andrew Filardo, Dong He and Feng Zhu Full Text Summary
WP No.22 / 2014	Chinese Shadow Banking: Bank-Centric Misperceptions by Tri Vi DANG (Research Fellow), Honglin Wang and Aidan Yao Full Text Summary
WP No.21 / 2014	Implications of Liquidity Management of Global Banks for Host Countries — Evidence from Foreign Bank Branches in Hong Kong by Eric Wong, Andrew Tsang and Steven Kong Full Text Summary
WP No.20 / 2014	Debt Deleveraging and the Zero Bound: Potentially Perverse Effects of Real Exchange Rate Movements by Paul Luk and David Vines Full Text Summary
WP No.19 / 2014	Assessing the Effectiveness of Date-Based Forward Guidance at the Zero Lower Bound with a Non-Gaussian Affine Term-Structure Model by Tsz-Kin Chung, Cho-Hoi Hui and Ka-Fai Li Full Text Summary
WP No.18 / 2014	Unconventional Monetary Policy Shocks and the Spillovers to Emerging Markets by Peter TILLMANN (Research Fellow) Full Text Summary
WP No.17 / 2014	Debt Markets in Emerging Economies: Major Trends by Tatiana Didier and Sergio L. SCHMUKLER (Research Fellow) Full Text Summary (Published in Comparative Economic Studies (2014), 56: 200-228)
WP No.16 / 2014	Does Bank Monitoring Matter to Bondholders? by Joel F. HOUSTON (Research Fellow), Chen LIN (Research Fellow) and Junbo WANG (Research Fellow) Full Text Summary
WP No.15 / 2014	Hong Kong’s Growth Synchronisation with China and the U.S.: A Trend and Cycle Analysis by Dong He, Wei Liao and Tommy Wu Full Text Summary (Published in Journal of Asian Economics, Volume 40, pages 10-28, October 2015 http://dx.doi.org/10.1016/j.asieco.2015.08.003)
WP No.14 / 2014	The Dragon is Flying West: Micro-Level Evidence of Chinese Outward Direct Investment by Wenjie Chen and Heiwai TANG (Research Fellow) Summary (Published in Asian Development Review, Volume 31, Issue 2, 2014, Pages 109-140. Full text is available from the authors upon request.)
WP No.13 / 2014	Interactions between CNY and CNH Money and Forward Exchange Markets by David Leung and John Fu Full Text Summary
WP No.12 / 2014	Sovereign Credit Ratings, Transparency and International Portfolio Flows by Amar Gande and David C. PARSLEY (Research Fellow) Full Text Summary
WP No.11 / 2014	How Strong are the Linkages between Real Estate and Other Sectors in China? by Wenlang Zhang, Gaofeng Han and Steven Chan Full Text Summary (Published in Research in International Business and Finance, Volume 36, January 2016, Pages 52-72)
WP No.10 / 2014	One Currency, Two Markets: The Renminbi’s Growing Influence in Asia-Pacific by Chang Shu, Dong He and Xiaoqiang Cheng Full Text Summary
WP No.09 / 2014	Optimal Exchange Rate Policy in a Growing Semi-Open Economy by Philippe BACCHETTA (Research Fellow), Kenza Benhima and Yannick Kalantzis Full Text Summary
WP No.08 / 2014	Invoicing Currency in International Trade: An Empirical Investigation and Some Implications for the Renminbi by Edwin LAI (Research Fellow) and Xiangrong Yu Full Text Summary (Published in The World Economy, 38(1): 193–229, January 2015)
WP No.07 / 2014	The anatomy of sovereign risk contagion by Magdalena Erdem, Elena Kalotychou, Eli Remolona and Eliza WU (Research Fellow) Full Text Summary (Published in Journal of International Money and Finance, Volume 69, Issue C, 2016, Pages 264-286)
WP No.06 / 2014	Switching Cost and Deposit Demand in China by Chun-Yu HO (Research Fellow) Full Text Summary (Published in International Economic Review, Volume 56, Issue 3, August 2015, Pages 723-749)
WP No.05 / 2014	Finding Stability in a Time of Crisis: Lessons of East Asia for Eastern Europe by Paul McNELIS (Research Fellow) Full Text Summary
WP No.04 / 2014	Interest Rate Determination in China: Past, Present, and Future by Dong He, Honglin Wang and Xiangrong Yu Full Text Summary
WP No.03 / 2014	How Does Loan-To-Value Policy Strengthen Banks’ Resilience to Property Price Shocks – Evidence from Hong Kong by Eric Wong, Andrew Tsang and Steven Kong Full Text Summary (Published in International Real Estate Review, Vol.19(1), (Spring 2016), pages 121-150.)
WP No.02 / 2014	Multiproduct Firms, Export Product Scope, and Trade Liberalization: The Role of Managerial Efficiency by Larry Dongxiao QIU (Research Fellow) and Miaojie Yu Full Text Summary
WP No.01 / 2014	The Role of Foreign Banks in Monetary Policy Transmission: Evidence from Asia during the Crisis of 2008-9 by Bang Nam JEON (Research Fellow) and Ji Wu Full Text Summary (Published in Pacific-Basin Finance Journal, 2014, 29: 96-120)