For over a decade, the economy of Hong Kong has been ranked the freest economy by both the Heritage Foundation in Washington D.C. and the Fraser Institute in Vancouver, Canada. Rankings of economic freedom tend to make comparisons on the performance of economic freedom among the various world...

This paper concentrates on three financial variables in promoting capital accumulation in the two groups of Asian economies. The empirical result shows that the ASEAN economies' financial performance is far less satisfactory than the four Asian NIEs. Considering the experience of the last two...

By employing a development finance approach, this paper examines the role of domestic savings, foreign resources and monetary aggregates in promoting economic growth in China. A two-equation model incorporating the financial repression paradigm, the structuralist “two gap” analysis, and the...

Using China's macro data from 1952-1989, the stationarity and causality tests tp two types of economic aggregates are applied. The first type relates to the conventional money, income and consumption relationship; and the other is associated with the interest rate, money and investment/income...

In the literature of development finance, both the structuralist's "two-gap" approach of Chenery and Strout (1966) and the financialist's "liberalisation" approach of McKinnon (1973) and Shaw (1973) represent the two polar theories for academic research and policy recommendations. Harris (1979)...

By using the sources of investment and based on provincial data, this paper examines the efficiency performance of the four sources of total investment in fixed assets in China for the period 1985-1998: state budget appropriation, national bank loans, self-raised funds, and foreign investment....

Taking a conceptual approach, this book studies the economic development of the four East Asian economies since 1950. The author summarizes and reconsiders many of the arguments and findings that supported and explained the economic 'miracles' of Hong Kong, Singapore, Taiwan and South Korea,...

This paper examines the economic performance of financial resources in China's provinces for the period 1985-1998. The empirical results indicate that different financial resources have different impacts on the economic growth. The growth of national bank loans and self-raised funds are...