Given the potential implications of market structure for asset pricing, this paper examines the structural and institutional features of the Hong Kong equity market and their relevance to explaining market behaviour. It was found that the Hong Kong market appears less perfect and hence less...

The aim of this article is to assess the competitiveness of the EU and the NIEs in trading with, and investing in, China since the early 1980s when China started to participate openly in the world economy. To address this issue, we employ specially constructed bilateral trade figures and data on...

Since its government's dramatic shift in foreign and economic policy in 1978, China has been regarded as a lucrative target for foreign multinational enterprises and international business researchers alike. This essay reviews the distinctive features of the Chinese business environment and...

The 1997 Asian crisis illustrated the need to develop local bond markets to reduce vulnerabilities to future mismatches in currency and maturity. This article examines a regional initiative -- the Pan-Asian Bond Index Fund -- and tests the implications for portfolio diversification. Intra- and...