This paper studies the long-term effect of aid on bilateral trade and provides a new mechanism for this effect - aid fosters inter-group affinity. Our empirical setting is the Soviet aid to China during the 1950s, namely the 156 program, when numerous large-scale industrial plants were...

The performance of 1994 autumn China Export Commodity Fair in Guangzhou was not great, the total amount of foreign participants decreased. The author surveys every prospect of the fair and embedded problems from the practical perspective.The author also proposes strategies on improving the...

Since the birth of ASEAN (Association of South-East Asian Nations), its economy has been developing swiftly. In 1970s, ASEAN's economy experienced hyperactive growth for the first time, with average annual growth rate of 7.4%. While the growth rate during the 1980s fluctuated from high speed to...

This article discusses a hot topic - the cooperation and union of finance in Hong Kong and Shenzhen. It analyzes the problem from three aspects: unionization of the two currency (Hong Kong dollar and Yuan) regulations, harmonization of the two financial systems, and conjunction of the two...

This paper analyzes whether the system of exchange rate time series of the Japanese yen and the South Korean won is cointegrated by using Engle and Granger's two-step approach to modeling cointegrated processes. The first step involves fitting the long-run relationship in levels by least...

In this paper, the author explores the presence of non-linearity for the daily series of 10-year Japanese government bond (JGB) yields by using the Tsay (1989) test, she finds the threshold non-linearity due to a significant change in Japanese debt management policy.The author also tests to find...