This working paper was written by Paul D. McNelis (Fordham University).This paper assesses sources of contagion emanating from both within the Hong Kong banking sector as well as from external sources. For robustness, the paper uses alternative measures of contagion, one based on Forecast Error...

This working paper was written by Yin-wong Cheung (University of California).The article examines the Hong Kong export performance. A standard export demand formulation is used as the benchmark. Then, we investigate the effects of real exchange rate volatility, “third” country competition,...

This working paper was written by Yin-Wong Cheung (University of California, Santa Cruz and Hong Kong Institute for Monetary Research).Advanced statistical techniques are used to analyze Hong Kong output dynamics. Hong Kong, Japan and the U.S. are found to share some common long-term and...

This article offers preliminary findings into the pharmaceutical laws and policy of Hong Kong. Applying a framework approach to identifying the linkages between pharmaceutical patents and policy objectives in the areas of public health, medical innovation and pharmaceutical industry development,...

This working paper was written by Yin-Wong Cheung (University of California, Santa Cruz and Jude Yuen (University of California, Santa Cruz).Standard economic models predict that the choice of an exchange rate regime has important implications for the interdependency of national monetary...

We study the overall effectiveness, unintended consequences, and transmission mechanisms of the cooling measures imposed by the Hong Kong government between 2009 and 2017 on the residential property market. We use comprehensive micro-level transaction data and adopt a regression discontinuity...

Touristification is an emerging concept used to enable the understanding of how various stakeholders interfere and transform a neighbourhood through tourist activities. This study develops a touristification rent gap theory to examine how an influx of tourists causes an increase in retail rents....

It is no doubt that the key resource for every society’s economic development and sustainability is the human capital. This, in order words, would mean an active work force. Businesses strive on labour, and the need to respond to the ever-evolving global community has made the use of some...

Separation of powers is not an area where courts in a number of common law jurisdictions have displayed a great deal of consistency, and the Hong Kong judiciary proved no exception during the early decades of the Special Administrative Region. Faced with a doctrine enshrined in the Basic Law,...

It has been a known secret in Hong Kong that parents are so keen on their children education that they are willing to live close by schools with high reputation to stand a good chance of admission for their children. The literature has recorded a lot of scholarly interests on the link between...