The presence of price disparity between A- and H- shares suggests that the two markets are segmented and thus allocation of capital is inefficient. In this paper, we attempt to identify the factors contributing to the price disparity, with a view to helping policymakers find solutions to the...

This study assesses the 'safehavenness' of a number of currencies with a view to providing a better understanding of how capital flows tend to react to sharp increases in global risk aversion during periods of financial crisis. It focuses on how currencies are perceived by dollar-based...

As international financial integration gathers pace, interconnectivity has increased tremendously among financial institutions, financial markets and financial systems, a phenomenon to which the recent global financial crisis perhaps provided the best testimony. The interconnectivity among...

The presence of price disparity between A- and H- shares suggests that the two markets are segmented and thus allocation of capital is inefficient. In this paper, we attempt to identify the factors contributing to the price disparity, with a view to helping policymakers find solutions to the...

The growth of Hong Kong SAR's corporate bond market has accelerated considerably since the global financial crisis, suggesting that local corporations increasingly regard market-based financing as a workable alternative to bank-based funding. The acceleration was driven by both cyclical and...

This note analyses the impact of the global credit crisis on the FX swap market and discusses its potential implications. The turbulence in money markets has spilled over to FX swap markets amid a reappraisal of counterparty risks during the recent financial turmoil. We examine the situations of...

This chapter analyses the impact of the global credit crisis on the money market and discusses its potential implications. The turbulence in money markets has spilled over to foreign exchange (FX)-swap markets amid a reappraisal of counterparty risks during the recent financial turmoil. We...