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With reference to a previous analysis of the characteristics and morphology of the stock markets of Mainland China (Shanghai and Shenzhen), the study aims at completing the overview of the main Asian stock exchanges (excluding Japan), by examining the Hong Kong stock exchange. After a review of...
Persistent link: https://www.econbiz.de/10010680628
daily trading volume for the 33 stocks involved, which, in turn, leads to a reduction in volatility in the stock market … have additional effects on the volatility of stock returns for the majority of the Hang Seng Index component stocks. On the … other hand, over a longer horizon, an increase in volatility is observed despite a decline in trading volume. Our results …
Persistent link: https://www.econbiz.de/10005753901
daily trading volume for the 33 stocks involved, which, in turn, leads to a reduction in volatility in the stock market … have additional effects on the volatility of stock returns for the majority of the Hang Seng Index component stocks. On the … other hand, over a longer horizon, an increase in volatility is observed despite a decline in trading volume. Our results …
Persistent link: https://www.econbiz.de/10008538926
We estimate changes in the productivity of schooling for six East Asian countries. Our productivity measure is based on changes in the relative price of schooling. A rising price of schooling relative to other labor-intensive service sectors should indicate declining relative schooling...
Persistent link: https://www.econbiz.de/10008520285
Persistent link: https://www.econbiz.de/10004998593
We examine the determinants of capital flows to four developing countries during the 1990s using an explicitly disequilibrium econometric framework in which the supply and demand for capital are not necessarily equal and the actual amount of the flow is determined by the ‘short side’ of the...
Persistent link: https://www.econbiz.de/10005825608
In the spirit of what is known as business cycle accounting, this paper finds that the investment wedge-the gap between household's rate of intertemporal substitution and the marginal product of capital-is large and quantitatively significant in explaining China's and India's growth. Specific...
Persistent link: https://www.econbiz.de/10005826386
This 2007 Article IV Consultation highlights that Japan’s external position remains strong. Boosted by investment income, the current account surplus widened in 2006 to nearly 4 percent of Japan’s GDP, despite a shrinking trade balance. Financial outflows also picked up, reflecting...
Persistent link: https://www.econbiz.de/10011244973
In reaction to the recent financial crisis, increased attention has recently been given to financial transaction taxes (FTTs) as a means of (1) raising revenue for a variety of possible purposes and/or (2) helping to curb financial market excesses. This paper reviews existing theory and evidence...
Persistent link: https://www.econbiz.de/10008876594
This paper analyzes the factors driving house prices in Australia from a cross-country perspective using several approaches. It uses a cointegration technique to estimate the long-run equilibrium house prices in Australia, New Zealand, and Canada and assesses the extent of a possible...
Persistent link: https://www.econbiz.de/10008777028