This paper measures the impact of a minimum wage increase on profitability of private firms in Vietnam using a difference-in-differences with propensity score matching method. Data used for this analysis are from Vietnam Enterprise Censuses in 2005 and 2006. It is found that the impact estimate...

Using data from 1991 to 2006 in Hong Kong, this paper documents how the distribution of workers’ earnings and the inequality of immigrants’ and natives’ earnings changed over time. We decompose earnings inequality to explore how the changes in immigrants’ share of the labor force have...

This work applies the FAVAR model to forecast GDP growth rate, unemployment rate and inflation rate of the Hong Kong economy. There is no factor model forecasting literature on the Hong Kong economy. The objective is to find out whether factor forecasting of using a large dataset can improve...

House prices crash has become an important feature of macroeconomic crisis. We argue that house prices crash driven by contractionary monetary policy is not only a reaction to crisis, but also accelerates and amplifies the fluctuations of major macroeconomic variable. In this paper, we conduct a...

By using a growth accounting framework for the period 1980-2000, this paper estimates Hong Kong’s total factor productivity and unit labor cost of twenty industries classified into three economic sectors of tradable goods, tradable services and non-tradable services. The results show that Hong...

The manuscript represents a comprehensive theory of enclaves and exclaves. The theory comprises both political and economic aspects. It is the first general book on the world’s enclaves and exclaves. Due to its comprehensive and pioneer character, it has a potential to become a book of...

What is the future role for Hong Kong as an international financial centre in China? A few pointers can be found by analysing the role of New York as a national and global financial hub. The financial sector in New York currently employs twice as many people and generates four times as much...

Given the adoption of the linked exchange rate since October 1983, fiscal policy becomes the only measurement for stabilizing the Hong Kong economy. This paper attempts to establish a framework for evaluating the fiscal effect to prevent the abuse of fiscal measures. The empirical study of Jha...

This paper examines trade performance of climate friendly goods using some trade indices for India and other Asian countries during 2002 - 2008. Climate friendly goods (CFG) are those goods which have less harmful to environment. Paper identifies India’s performance in CFG trade with other...

The crash of house prices has become an important feature of macroeconomic crisis. We argue that the crash of house prices driven by contractionary monetary policy is not only a reaction, but also accelerates and amplifies the fluctuations of major macroeconomic variables. The impulse response...