Lei, Chun Kwok; Yao, Shujie - In: The World Economy 31 (2008) 3, pp. 345-366
Hong Kong and Macau were reunited with China in the late 1990s as two special administrative regions (SARs). Over the last half century, they were China's good examples of economic development, windows of openness and investors. Owing to historical reasons, China lagged far behind Hong Kong and...