In this paper we consider the role of exchange rate risk in influencing local currency sovereign bond yields in emerging market economies (EMEs). We explicitly account for exchange rate expectations and uncertainty around them, as measured by exchange rate volatility. The analysis points to an...

Significant advancements have been made in cyber aggression literature, with many studies revealing the consequences associated with adolescents’ involvement in these behaviors. Few studies have focused on cyber aggression involvement in China, India, and Japan. The present study examined...

Despite the increasing role of foreign direct investment (FDI) in economic development, very limited research has been carried out on the causal links between trade, FDI and economic growth in Asian economies. This study examines empirically the inter-play between exports, imports, FDI and...

In macro surveillance work, we often find it difficult to assess the state of the Mainland economy based on unadjusted monthly or quarterly data as the underlying economic trends are obscured by seasonal variations and the effect of moving holidays. Standard procedures exist for seasonal...

As the Hong Kong economy became increasingly integrated with that of Mainland China, it has benefited tremendously from the strong performance of the Mainland economy. At the same time, skilful macroeconomic management and sustained structural reforms on the Mainland have engendered a virtuous...

This paper investigates the causal links between stock market performance and consumption for five Asian economies by applying the bound tests of Pesaran et al. and lag augmented VAR of Toda and Yamamoto . We find two-way causal relationships between stock market performance and consumption in...

During the second half of 2007 and early part of 2008 when there were intense inflationary pressures in China, RMB appreciation was advocated as a means of helping to curb inflation. The effectiveness of appreciation in controlling inflation depends on the impact of exchange rate movements on...