In recent years there has been a rapid and sustained growth of the service sector in the Indian economy. But unfortunately, while the importance of the services is growing statistical data and other relevant information of the services are abysmally low. There are problems relating to the...

Using a strategy of export-led growth and an activist industrial policy, Japan, the Asian Tigers and more recently China have attained high rates of economic growth. Export-led growth has taken over the status as model for developing countries' economic development from the formerly prevailing...

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 paper identifies the ex ante factors of currency speculation based on the experience of Hong Kong’s three episodes in 1988, 1998 and 2007. The dynamic conditional correlation models are used to study the inter-temporal interactions among the Hang Seng Index, Hang Seng Index futures and...

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...

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...

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...

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...