This paper aims to examine the impact of financial integration and information and communication technology (ICT) development on output volatility. It applies a two-country dynamic general equilibrium model, in which ICT is assumed to increase the volume and speed of capital flows. This model...

type="main" xml:id="ecot12031-abs-0001" <title type="main">Abstract</title> <p>This study is the first empirical research on understanding the determinants of the concentration of cultural industries (CIs) in cities in China. What factors of the urban environment are important for attracting the location of CIs? How is the...</p>

Hong Kong is an open economy that uses foreign currencies extensively in domestic payments. This paper focuses on substitution between the domestic and foreign currencies in their role as media of payments in such an economy. It uses quarterly data to estimate currency substitution (CS) for Hong...