Hong Kong Institute for Monetary and Financial Research

(HKIMR)

Units 1005-1011, 10th Floor, One Pacific Place

88 Queensway

Hong Kong

China

SCHOLARLY PAPERS

618

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Scholarly Papers (618)

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1.

Financial Innovation: The Bright and the Dark Sides

Downloads 434 (14,862)
Citation 23

Financial Innovation: The Bright and the Dark Sides

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 05/2012
Number of pages: 52 Posted: 06 Mar 2012 Last Revised: 25 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 434 (115,138)
Citation 24

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Financial Innovation, Financial R&D Intensity, Bank Risk Taking, Financial Crisis, Industrial Growth, Finance and Growth

2.

Financial Flexibility and Corporate Cash Policy

Downloads 738 (19,082)
Citation 8

Financial Flexibility and Corporate Cash Policy

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 05/2017
Number of pages: 57 Posted: 22 Mar 2017 Last Revised: 08 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 738 (59,366)
Citation 9

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Financial Flexibility, Collateral Value, Cash Policy, Real Estate Prices

3.

Tunneling, Propping, and Expropriation: Evidence from Connected Party Transactions in Hong Kong

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Citation 26

Tunneling, Propping, and Expropriation: Evidence from Connected Party Transactions in Hong Kong

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 09/2004, EFA 2004 MAASTRICHT Conference Paper, Journal of Financial Economics (JFE), Vol. 82, No. 2, 2006
Number of pages: 45 Posted: 23 Aug 2007 Last Revised: 03 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 1,532 (20,959)
Citation 30

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International corporate governance, Legal systems, Expropriation, Connected transactions, Pyramids, Tunneling, Propping

4.

Chinese Shadow Banking: Bank-Centric Misperceptions

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 22/2014
Number of pages: 40 Posted: 13 Sep 2014 Last Revised: 01 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 13

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5.

How Important are Foreign Ownership Linkages for International Stock Returns?

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Citation 29

How Important are Foreign Ownership Linkages for International Stock Returns?

Review of Financial Studies, Vol. 28 (11), November 2015, 3036–3072., Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 12/2012, WBS Finance Group Research Paper No. 181
Number of pages: 61 Posted: 31 May 2012 Last Revised: 25 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 145 (342,793)
Citation 12

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Institutional Ownership, Asset Management, Portfolio Diversification, International Finance, Comovement

6.

What Makes the VIX Tick?

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Citation 2

What Makes the VIX Tick?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 22/2012
Number of pages: 61 Posted: 03 Nov 2012 Last Revised: 26 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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VIX, implied volatility, volatility risk premium, macroeconomic news, policy uncertainty

7.

Does the Tail Wag the Dog? The Effect of Credit Default Swaps on Credit Risk

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Citation 59

Does the Tail Wag the Dog? The Effect of Credit Default Swaps on Credit Risk

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 29/2012, WBS Finance Group Research Paper No. 195
Number of pages: 68 Posted: 22 Dec 2012 Last Revised: 28 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 6

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Credit Default Swaps, Credit Risk, Bankruptcy, Empty Creditor

8.

Empirical Exchange Rate Models of the Nineties: Are Any Fit to Survive?

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Citation 194

Empirical Exchange Rate Models of the Nineties: Are Any Fit to Survive?

UC Santa Cruz Economics Working Paper No. 521; UC Santa Cruz International Economics Working Paper No. 02-16, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 12/2005, Journal of International Money and Finance, Vol. 24, No. 7, 2005
Number of pages: 30 Posted: 09 Feb 2004 Last Revised: 08 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 819 (51,668)
Citation 3

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exchange rates, monetary model, productivity, interest rate parity, behavioral equilibrium exchange rate model, forecasting performance

9.

Banking and Currency Crises: How Common are the Twins?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 01/2000, R. Glick, R. Moreno and M.N. Spiegel, eds., Financial Crises in Emerging Markets, Chapter 2, pp. 35-69, Cambridge University Press, 2001
Number of pages: 31 Posted: 28 Aug 2007 Last Revised: 19 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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10.

Monetary Policy Transmission in China: A DSGE Model with Parallel Shadow Banking and Interest Rate Control

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Citation 6

Monetary Policy Transmission in China: A DSGE Model with Parallel Shadow Banking and Interest Rate Control

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 12/2015
Number of pages: 48 Posted: 12 May 2015 Last Revised: 03 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 177 (289,199)
Citation 3

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DSGE Model, Monetary Policy, Financial Market Reform, Shadow Banking, China

11.

What Does the Yield Curve Tell Us about Exchange Rate Predictability?

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Citation 23

What Does the Yield Curve Tell Us About Exchange Rate Predictability?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 29/2010, Review of Economics and Statistic, March 2013, Vol. 95, No. 1, Pages 185-205
Number of pages: 40 Posted: 28 Dec 2010 Last Revised: 09 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 152 (329,728)
Citation 15

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Exchange Rate Forecasting, Term Structure of Interest Rates, Uncovered Interest Parity

12.

Momentum Trading, Mean Reversal and Overreaction in Chinese Stock Market

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 23/2004, Journal of Empirical Finance, Vol. 13, No. 1, 2006
Number of pages: 23 Posted: 23 Aug 2007 Last Revised: 03 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 816 (52,647)
Citation 5

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Chinese Stocks, Mean Reversal, Momentum, Overreaction

13.

Regulatory Arbitrage and International Bank Flows

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Citation 68

Regulatory Arbitrage and International Bank Flows

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 15/2012, the Journal of Finance, Volume 67, Issue 5, October 2012, Pages: 1845–1895
Number of pages: 56 Posted: 31 May 2012 Last Revised: 25 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 38

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14.

Securitization Rating Performance and Agency Incentives

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Securitization Rating Performance and Agency Incentives

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 18/2011
Number of pages: 52 Posted: 28 Jun 2011 Last Revised: 21 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 275 (190,218)

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asset-backed security, credit rating agency, collateralized debt obligation, economic downturn, fee revenue, forecasting, Global Financial Crisis, home equity loans, impairment, mortgage-backed security, rating, securitization

15.

Déjà Vu All Over Again: Agency, Uncertainty, Leverage and the Panic of 1857

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 10/2012
Number of pages: 56 Posted: 19 Apr 2012 Last Revised: 25 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 6

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16.

Bank Lending and Property Prices: Some International Evidence

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 22/2003
Number of pages: 20 Posted: 23 Aug 2007 Last Revised: 01 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 38

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17.

Effects of Liquidity on the Nondefault Component of Corporate Yield Spreads: Evidence from Intraday Transactions Data

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Citation 28

Effects of Liquidity on the Nondefault Component of Corporate Yield Spreads: Evidence from Intraday Transactions Data

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 02/2011, The Quarterly Journal of Finance, Volume 6, Issue 3, March 2016, 1650012
Number of pages: 49 Posted: 30 Jan 2011 Last Revised: 21 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 84 (508,489)
Citation 3

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Corporate Bond Yield Spreads, Credit Default Swaps, Liquidity, CDS-Bond Basis

18.

Price Setting and Exchange Rate Pass-Through: Theory and Evidence

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 22/2002, Price Adjustment and Monetary Policy, Bank of Canada, 2003 (Online available http://www.bankofcanada.ca/en/topic/top-exc.html)
Number of pages: 25 Posted: 28 Aug 2007 Last Revised: 26 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 728 (61,308)
Citation 1

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19.

Equity Valuation in Mainland China and Hong Kong: The Chinese A-H Share Premium

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 14/2005
Number of pages: 31 Posted: 22 Aug 2007 Last Revised: 08 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 681 (66,903)
Citation 3

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A-H share premium, China, Hong Kong

20.

Deflation, Credit and Asset Prices

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 13/2003, Deflation: Current and Historical Perspective, Edited by Richard Burdekin and Pierre Siklos, Cambridge University Press
Number of pages: 26 Posted: 27 Aug 2007 Last Revised: 01 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 659 (69,738)
Citation 12

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21.

Give Credit Where Credit is Due: Tracing Value Added in Global Production Chains

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Citation 27

Give Credit Where Credit is Due: Tracing Value Added in Global Production Chains

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 31/2011
Number of pages: 38 Posted: 26 Oct 2011 Last Revised: 31 Oct 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 25

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22.

Does the Dipasquale-Wheaton Model Explain the House Price Dynamics in China Cities?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 25/2008, International Real Estate Review, 2011, Vol. 14 No. 1: 85 – 117. The new title is "House Market in Chinese Cities: Dynamic Modeling, In-Sampling Fitting and Out-of-Sample Forecasting"
Number of pages: 40 Posted: 04 Jan 2009 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 584 (81,056)
Citation 6

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Housing Market Dynamics, Cross-city Difference, Panel Data Method

23.

The Economics of the Greenium: How Much Is the World Willing to Pay to Save the Earth?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 09/2020, Environmental and Resource Economics, Volume 81, Issue 2, January 2022, Pages 379-408
Number of pages: 38 Posted: 16 Jun 2020 Last Revised: 15 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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24.

Competition and Bank Opacity

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Citation 55

Competition and Bank Opacity

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 05/2016, Published in The Review of Financial Studies, Volume 29, Issue 7, July 26
Number of pages: 48 Posted: 26 Apr 2016 Last Revised: 26 Sep 2023
Hong Kong Institute for Monetary and Financial Research
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Downloads 82 (516,119)

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25.

Renminbi Going Global

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 08/2011, China & World Economy, Volume 19, Issue 2, pages 1–18, March-April 2011
Number of pages: 27 Posted: 29 Mar 2011 Last Revised: 31 Oct 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 550 (87,399)
Citation 3

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RMB Internationalization, Off-Shore RMB Market, Cross-Border Trade Settlement, Panda Bonds

26.

Currency Internationalisation: Analytical and Policy Issues

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 31/2009
Number of pages: 15 Posted: 21 Jun 2010 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 6

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27.

After the Crisis, the East Asian Dollar Standard Resurrected: An Interpretation of High Frequency Exchange Rate Pegging

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 04/2001, J. Stiglitz and S. Yusuf, eds., Rethinking the East Asian Miracle, World Bank and Oxford University Press, 2001, pp. 197-246
Number of pages: 39 Posted: 28 Aug 2007 Last Revised: 20 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 29

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28.

Central bank digital currency: A review and some macro-financial implications

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Citation 6

Central Bank Digital Currency: a Review and Some Macro-Financial Implications

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 05/2021
Number of pages: 53 Posted: 22 Mar 2021 Last Revised: 09 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Central Bank Digital Currency, Velocity, Money Demand, Monetary Policy, McCallum Rule

29.

Exchange Rates and Monetary Policy in Emerging Market Economies

Downloads 479 (95,098)
Citation 53

Exchange Rates and Monetary Policy in Emerging Market Economies

IIIS Discussion Paper No. 36, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 07/2000, The Economic Journal, 2006, 116(511): 478-506
Number of pages: 59 Posted: 08 Jun 2005 Last Revised: 20 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 479 (102,520)
Citation 44

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Monetary policy, exchange rate pass-through, balance sheet constraints

30.

International Capital Flows

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Citation 5

International Capital Flows

FRB of New York Staff Report No. 280, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 12/2007
Number of pages: 44 Posted: 18 Apr 2007 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 433 (115,474)
Citation 2

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international capital flows, portfolio allocation, home bias

31.

A Macro-Finance Approach to Exchange Rate Determination

Downloads 178 (97,401)
Citation 2

A Macro-Finance Approach to Exchange Rate Determination

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 01/2011
Number of pages: 49 Posted: 30 Jan 2011 Last Revised: 20 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 178 (287,741)

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Exchange Rate, Term Structure, Latent Factors, Term Premiums

32.

Do Investors Really Value Corporate Governance? Evidence from the Hong Kong Market

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 22/2005, Journal of International Financial Management and Accounting 18, no. 2 (2007): 86-122
Number of pages: 38 Posted: 23 Dec 2006 Last Revised: 08 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 500 (98,296)
Citation 3

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Corporate governance, firm profitability, Hong Kong

33.

Interest Rate Determination in China: Past, Present, and Future

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 04/2014
Number of pages: 28 Posted: 21 Feb 2014 Last Revised: 29 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 496 (99,308)
Citation 11

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Interest Rate, Monetary Policy, Economic Reform, Chinese Economy, The People’s Bank of China (PBC)

34.

Markets and Housing Finance

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Citation 37

Markets and Housing Finance

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 03/2008, Journal of Housing Economics, 2008, 17: 239-251
Number of pages: 34 Posted: 23 Apr 2007 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 402 (126,048)
Citation 2

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mortgage, housing finance, emerging markets

35.

The Impact of Macroeconomic and Regulatory Factors on Bank Efficiency: A Non-Parametric Analysis of Hong Kong's Banking System

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 01/2005, Journal of Banking and Finance, Vol. 30, No. 5, 2006
Number of pages: 30 Posted: 23 Aug 2007 Last Revised: 05 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 482 (102,840)

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Data Envelopment Analysis, Slacks Adjustment, Hong Kong Banks, Efficiency, Regulation and Environmental Variables

36.

Quantitative Easing

Downloads 473 (104,627)
Citation 6

Quantitative Easing

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 08/2019
Number of pages: 50 Posted: 17 May 2019 Last Revised: 15 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 473 (104,079)
Citation 6

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Optimal Monetary Policy, Large-Scale Asset Purchases, HANK and its Estimation

37.

Credit Losses in Economic Downturns - Empirical Evidence for Hong Kong Mortgage Loans

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 15/2008
Number of pages: 19 Posted: 06 Jan 2009 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 472 (105,400)

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Basel II, Business Cycle, Capital Adequacy, Correlation, Credit Risk, Economic Downturn, Expected Loss, Fixed Income, Loss Given Default, Probability of Default, Value-at-Risk

38.

The Domestic Segment of Global Supply Chains in China Under State Capitalism

Downloads 114 (107,037)
Citation 7

The Domestic Segment of Global Supply Chains in China Under State Capitalism

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 05/2015, Journal of Comparative Economics, Vol. 48, 2020
Number of pages: 64 Posted: 17 Feb 2015 Last Revised: 25 Sep 2023
Hong Kong Institute for Monetary and Financial Research
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Downloads 114 (412,529)
Citation 2

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Value-Added Trade, Global Supply Chain, Intra-National Trade, State Capitalism

39.

Corruption and Cross-Border Investment in Emerging Markets: Firm-Level Evidence

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Citation 31

Corruption and Cross-Border Investment in Emerging Markets: Firm-Level Evidence

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 06/2009, Journal of International Money and Finance, Vol. 28, No. 4, 2009
Number of pages: 34 Posted: 11 Mar 2009 Last Revised: 15 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 375 (136,433)
Citation 24

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Corruption, Developing Countries, Multinational Firms

40.

Explosive Behavior in the 1990s Nasdaq: When did Exuberance Escalate Asset Values?

Downloads 204 (108,989)
Citation 70

Explosive Behavior in the 1990s NASDAQ: When Did Exuberance Escalate Asset Values?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 22/2007, International Economic Review, Volume 52, Issue 1, Pages 201-226, February 2011
Number of pages: 40 Posted: 12 Feb 2008 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 204 (254,506)
Citation 16

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Explosive root, irrational exuberance, mildly explosive process, Nasdaq bubble, periodically collapsing bubble, sup test, time-varying discount rate, unit root test

41.

China, Hong Kong, and Taiwan: A Quantitative Assessment of Real and Financial Integration

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Citation 9

China, Hong Kong, and Taiwan: A Quantitative Assessment of Real and Financial Integration

China Economic Review, 2003, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 15/2003
Number of pages: 30 Posted: 27 Aug 2007 Last Revised: 01 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 76 (540,519)

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uncovered interest parity, real interest parity, purchasing power parity, exchange rates, capital mobility, market integration

42.

Do the Shades of Green Matter? The Pricing and Ownership of 'Darkgreen' Bonds

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper
Number of pages: 27 Posted: 07 May 2021 Last Revised: 30 Nov 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 1

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climate change; green bond; carbon emissions; climate risk; shades of green; responsible investment

43.

Breakdown of Covered Interest Parity: Mystery or Myth?

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Citation 4

Breakdown of Covered Interest Parity: Mystery or Myth?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 25/2017
Number of pages: 50 Posted: 27 Nov 2017 Last Revised: 09 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 81 (519,955)
Citation 4

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covered interest parity, FX swap, cross-currency basis swap, basis spread, CIP deviation, Libor-OIS spread, counterparty credit risk, funding liquidity risk

44.

The Effect of Government Reference Bonds on Corporate Borrowing Costs: Evidence from a Natural Experiment

Downloads 86 (113,289)
Citation 3

The Effect of Government Reference Bonds on Corporate Borrowing Costs: Evidence from a Natural Experiment

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 06/2020
Number of pages: 48 Posted: 16 Jun 2020 Last Revised: 15 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 86 (501,022)

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reference bond, China, corporate borrowing

45.

China’s Outward Direct Investment in Africa

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 13/2011, Review of International Economics, Volume 20, Issue 2, pages 201–220, May 2012
Number of pages: 38 Posted: 28 Apr 2011 Last Revised: 20 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 438 (115,111)
Citation 6

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Market Seeking, Resources Seeking, Risk, Trade Relationship, Contracted Projects, Going Global Policy, Energy Procurement

46.

The Implementation of Monetary Policy in China: The Interbank Market and Bank Lending

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 26/2011, International Finance Review (2013), Vol 14, pp.31-69
Number of pages: 38 Posted: 10 Sep 2011 Last Revised: 21 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 429 (117,957)
Citation 8

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Monetary Policy Implementation, Regulated Retail Interest Rates, Transmission Mechanism, Window Guidance, Bank Loans, China

47.

Do We Really Know that the WTO Increases Trade?

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Citation 325

Do We Really Know that the WTO Increases Trade?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 18/2002, American Economic Review, 2004, v94(1,Mar), 98-114
Number of pages: 38 Posted: 27 Aug 2007 Last Revised: 26 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 266 (196,759)

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empirical, bilateral, panel, gravity, GATT, GSP, international, multilateral, panel

48.

Hong Kong, Singapore and the East Asian Crisis: How Important Were Trade Spillovers?

CIES Discussion Paper No. 0042, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 14/2002, The World Economy, 25(4), 2002
Number of pages: 35 Posted: 08 Dec 2000 Last Revised: 26 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 423 (119,952)
Citation 7

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Competition, Complementarity, Contagion, Crisis, East Asia, Hong Kong, Singapore

49.

Cross-Border Mergers and Acquisitions (M&As) in Developing Asia: The Role of Financial Variables

GMU School of Public Policy Research Paper No. 2010-17, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 36/2009
Number of pages: 26 Posted: 22 Jun 2010 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 420 (120,912)
Citation 4

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Developing Asia, Distance, Finance, Foreign Direct Investment (FDI), Gravity Model, Greenfield investment, Mergers and Acquisitions (M&As), Risks

50.

Gradual Portfolio Adjustment: Implications for Global Equity Portfolios and Returns

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Citation 2

Gradual Portfolio Adjustment: Implications for Global Equity Portfolios and Returns

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 28/2017
Number of pages: 48 Posted: 27 Dec 2017 Last Revised: 09 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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gradual portfolio adjustment, international portfolio allocation, pre-dictable excess returns.dent banks’ domestic lending behaviour, using individual bank-level data, Focusing on financial

51.

Does the Chinese Interest Rate Follow the US Interest Rate?

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Citation 12

Does the Chinese Interest Rate Follow the US Interest Rate?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 19/2006, International Journal of Finance and Economics, 2008, 13(1): 53-67, 2008
Number of pages: 27 Posted: 08 Jun 2022 Last Revised: 09 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 20 (910,527)

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Policy Dependence, Interest Rate Interactions, Exchange Rate Regime

52.

Dual-Track Interest Rates and the Conduct of Monetary Policy in China

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Citation 23

Dual-Track Interest Rates and the Conduct of Monetary Policy in China

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 21/2011, China Economic Review, Vol. 23, No. 4, 2012
Number of pages: 56 Posted: 30 Jul 2011 Last Revised: 21 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 101 (450,831)
Citation 4

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Monetary Policy, People’s Bank of China, Dual-Track Interest Rates, Interest Rate Liberalization

53.

A High-Low Model of Daily Stock Price Ranges

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Citation 5

A High-Low Model of Daily Stock Price Ranges

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 03/2009, Journal of Forecasting, 2009, 28(2): 103-119
Number of pages: 42 Posted: 02 Feb 2009 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 5

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Daily High, Daily Low, VECM Model, Forecast Performance, Implied Volatility

54.

Innovation, Diffusion, and Trade: Theory and Measurement

Downloads 87 (137,166)
Citation 16

Innovation, Diffusion, and Trade: Theory and Measurement

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 19/2012
Number of pages: 49 Posted: 20 Jul 2012 Last Revised: 26 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Citation 3

Abstract:

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55.

Risk Sharing and the Theory of Optimal Currency Areas: A Re-Examination of Mundell 1973

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 08/2000
Number of pages: 15 Posted: 28 Aug 2007 Last Revised: 20 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 9

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56.

Credit Default Swaps and Bank Regulatory Capital

Review of Finance, Volume 25, Issue 1, Fenruary 2021, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 20/2017
Number of pages: 50 Posted: 20 Sep 2017 Last Revised: 26 Sep 2023
Hong Kong Institute for Monetary and Financial Research
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Citation 9

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Credit default swaps, CDS, Capital relief, RWA ratio, Bank risk-taking

57.

Predictability in Financial Markets: What do Survey Expectations Tell Us?

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Citation 105

Predictability in Financial Markets: What do Survey Expectations Tell Us?

Swiss Finance Institute Research Paper No. 06-15, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 10/2006, Journal of International Money and Finance, Vol. 28, 2009
Number of pages: 59 Posted: 06 Oct 2006 Last Revised: 09 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 339 (152,461)
Citation 8

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excess returns, expectations survey, predictability

58.

The Weak Link Theory of Economic Development

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 04/2007
Number of pages: 29 Posted: 21 Aug 2007 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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59.

Measuring the On-Going Changes in China's Capital Flow Management: A De Jure and a Hybrid Index Data Set

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Citation 6

Measuring the On-Going Changes in China's Capital Flow Management: A De Jure and a Hybrid Index Data Set

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 11/2015, China Economic Review, Vol. 38, No. Pages 167-182, 2016
Number of pages: 28 Posted: 12 May 2015 Last Revised: 03 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 6

Abstract:

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Capital Flows, China’s Capital Controls, De Jure Index, Hybrid Index

60.

Why Doesn't Asia Have Bigger Bond Markets?

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Citation 10

Why Doesn't Asia Have Bigger Bond Markets?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 24/2004, Asian bond markets: issues and prospects 11/2006 pg.40-77
Number of pages: 35 Posted: 23 Aug 2007 Last Revised: 03 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 263 (199,024)
Citation 5

Abstract:

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bond markets, financial development

61.

The Empirical Relation between Credit Quality, Recovery, and Correlation

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 22/2009
Number of pages: 38 Posted: 03 Sep 2009 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Asset Value, Correlation, Credit Portfolio, Loss Given Default, Merton Model, Probability of Default, Recovery, Volatility

62.

Market Structure, Welfare and Banking Reform in China

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Citation 4

Market Structure, Welfare, and Banking Reform in China

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 30/2009, Journal of Comparative Economics, Volume 40, Issue 2, May 2012, Pages 291–313
Number of pages: 45 Posted: 21 Jun 2010 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 1

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Banking Reform, Banks in China, Demand Estimation, Market Structure

63.

Corporate Leverage in China: Why Has It Increased Fast in Recent Years and Where Do the Risks Lie?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 10/2015
Number of pages: 24 Posted: 22 Apr 2015 Last Revised: 02 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 6

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64.

The Overvaluation of Renminbi Undervaluation

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Citation 81

The Overvaluation of Renminbi Undervaluation

Journal of International Money and Finance, Vol. 26, No. 5, 2007, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 11/2007
Number of pages: 37 Posted: 09 Jun 2022 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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absolute purchasing power parity, exchange rates, real income, capital controls, currency misalignment

65.

Ownership Concentration and Executive Compensation in Closely Held Firms: Evidence from Hong Kong

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 14/2003, Journal of Empirical Finance, Vol. 12, No. 4, 2005
Number of pages: 53 Posted: 27 Aug 2007 Last Revised: 01 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 353 (147,006)
Citation 6

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ownership structure, executive compensation, corporate governance

66.

The Impact of Fintech Innovations on the Hong Kong Banking Industry

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 08/2020
Number of pages: 49 Posted: 16 Jun 2020 Last Revised: 15 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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67.

Why are Saving Rates so High in China?

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Citation 16

Why are Saving Rates so High in China?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No.31/2010, National Bureau of Economic Research, Volume Title: Capitalizing China, Volume Publisher: University of Chicago Press, November 2012
Number of pages: 34 Posted: 31 Dec 2010 Last Revised: 09 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 1

Abstract:

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68.

Self-Fulfilling Risk Panics

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Citation 28

Self-Fulfilling Risk Panics

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 28/2010, American Economic Review, Volume 102, Issue 7, December 2012, Pages 3674-3700
Number of pages: 44 Posted: 28 Dec 2010 Last Revised: 09 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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69.

An Empirical Model of Daily Highs and Lows

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Citation 3

An Empirical Model of Daily Highs and Lows

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 07/2006, International Journal of Finance and Economics, 12, 2007, pp. 1-20, 2007
Number of pages: 33 Posted: 08 Jun 2022 Last Revised: 15 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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High, Low Open, Close, Trading Volume, VECM Model

70.

Unconventional Monetary Policy Shocks and the Spillovers to Emerging Markets

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 18/2014
Number of pages: 29 Posted: 16 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 31

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Qual VAR, Unconventional Monetary Policy, Emerging Markets, Spillovers, LSAP

71.

Does Bank Monitoring Matter to Bondholders?

Downloads 194 (156,977)
Citation 1

Does Bank Monitoring Matter to Bondholders?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 16/2014
Number of pages: 39 Posted: 22 Jul 2014
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Citation 2

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Loan Contracting, Bond Market Returns, Cross Monitoring

72.

Risk-Adjusted Covered Interest Parity: Theory and Evidence

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 16/2016
Number of pages: 25 Posted: 06 Sep 2016 Last Revised: 05 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 8

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covered interest parity, CIP deviation, forward rate, exchange rate, Libor-OIS spread, counterparty credit risk, liquidity funding risk, FX swap

73.

What are the Sources of Financing of the Chinese Firms?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 19/2010, Frontiers of Economics and Globalization, Volume 9, ISSN: 1574-8715. New title: "What are the Sources of Financing for Chinese Firms?"
Number of pages: 33 Posted: 20 Sep 2010 Last Revised: 07 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 5

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74.

Exchange Rates and Markov Switching Dynamics

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Citation 1

Exchange Rates and Markov Switching Dynamics

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 05/2005, Journal of Business and Economic Statistics, 23, 2005, pp. 314-320, 2005
Number of pages: 19 Posted: 08 Jun 2022 Last Revised: 05 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Exchange Rate Dynamics, Regime Switching, Monte Carlo Test, Sampling Frequency

75.

Trends and Drivers of Bilateral FDI Flows in Developing Asia

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 11/2008
Number of pages: 30 Posted: 16 Jul 2008 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 5

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Developing Asia, Distance, Foreign direct investment (FDI), Institutions, Intra-regional, Gravity model

76.

Banking Deregulation and Macroeconomic Impact in China: A Theoretical Analysis and Implications of Wto Accession to the Mainland and Hong Kong

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 08/2002, Economic Research Journal, 6, 2002
Number of pages: 44 Posted: 27 Aug 2007 Last Revised: 26 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 315 (166,065)
Citation 1

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banking competition, WTO, China, Hong Kong

77.

How Would Capital Account Liberalisation Affect China’s Capital Flows and the Renminbi Real Exchange Rates?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 09/2012, China & World Economy, 2012, Volume 20, Issue 6, pages 29–54. http://onlinelibrary.wiley.com/doi/10.1111/j.1749-124X.2012.12001.x/abstract
Number of pages: 32 Posted: 19 Apr 2012 Last Revised: 25 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 7

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Capital Account Liberalisation, Net Foreign Asset Position, Exchange Rates

78.

The Coming Wave: Where Do Emerging Market Investors Put Their Money?

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Citation 9

The Coming Wave: Where Do Emerging Market Investors Put Their Money?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 04/2016, Published in Journal of Financial and Quantitative Analysis, Volume 55 Issue 4
Number of pages: 64 Posted: 17 Mar 2016 Last Revised: 26 Sep 2023
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Citation 1

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Global portfolio allocation, portfolio equity investment, institutional investors, emerging market economies

79.

Bank Lending and Property Prices in Hong Kong

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Citation 75

Bank Lending and Property Prices in Hong Kong

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 12/2003, Journal of Banking and Finance, Vol. 29, No. 2, 2005
Number of pages: 24 Posted: 27 Aug 2007 Last Revised: 01 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 9

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Property prices, bank lending, Hong Kong

80.

Inflation Targeting in Emerging Market and Transition Economies: Lessons after a Decade

Downloads 256 (174,145)
Citation 33

Inflation Targeting in Emerging Market and Transition Economies: Lessons after a Decade

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 13/2001, European Economic Review, Vol. 46, No. 4-5, 2002
Number of pages: 11 Posted: 04 Sep 2007 Last Revised: 26 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 256 (204,511)
Citation 4

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Inflation targeting, central banks, monetary policy

81.

The X-Efficiency of Commercial Banks in Hong Kong

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Citation 13

The X-Efficiency of Commercial Banks in Hong Kong

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 12/2002, Journal of Banking and Finance, Vol. 30, No. 4, 2006
Number of pages: 26 Posted: 27 Jul 2022 Last Revised: 28 Oct 2022
Hong Kong Institute for Monetary and Financial Research
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82.

Geopolitics, Global Patterns of Oil Trade, and China’s Oil Security Quest

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 32/2011
Number of pages: 29 Posted: 26 Oct 2011 Last Revised: 22 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 4

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Energy Security, International Relations, Oil Trade Diversification

83.

The Composition Matters: Capital Inflows and Liquidity Crunch During a Global Economic Crisis

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Citation 44

The Composition Matters: Capital Inflows and Liquidity Crunch During a Global Economic Crisis

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 17/2010, Review of Financial Studies, Advance Access, 26 September, 2010
Number of pages: 39 Posted: 30 Jun 2010 Last Revised: 07 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 36

Abstract:

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Financial Globalization, Financial Crisis, Spillover, Liquidity Constraint

84.

Risk Management and Managerial Efficiency in Chinese Banks: A Network DEA Framework

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 10/2011, Omega: The International Journal of Management Science, 41 (2013), 207-215
Number of pages: 37 Posted: 30 Mar 2011 Last Revised: 31 Oct 2022
Hong Kong Institute for Monetary and Financial Research
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Risk Management, Risk Organisation, Managerial Efficiency, Network DEA

85.

Anchoring and Loss Aversion in the Housing Market: Implications on Price Dynamics

Downloads 98 (179,219)
Citation 9

Anchoring and Loss Aversion Explain the Predictability in the Housing Market?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 28/2011, Pacific Economic Review, Volume 18, Issue 1, pages 41–59, February 2013
Number of pages: 29 Posted: 28 Sep 2011 Last Revised: 21 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 7

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Price Dispersion, Anchoring, Loss Aversion, Housing Market

86.

Hong Kong Output Dynamics: An Empirical Analysis

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Citation 1

Hong Kong Output Dynamics: An Empirical Analysis

Pacific Economic Review, 7(3), 2002, pp. 465-487, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 11/2000
Number of pages: 32 Posted: 13 Jun 2022 Last Revised: 15 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Common Trends/Cycles, Transmission Mechanism, Structural Determinants

87.

Rise of Bank Competition: Evidence from Banking Deregulation in China

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Citation 10

Rise of Bank Competition: Evidence from Banking Deregulation in China

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 27/2021
Number of pages: 68 Posted: 24 Nov 2021 Last Revised: 14 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Banking Deregulation, Credit Misallocation, Big Data, Growth

88.

What Drives Commodity Price Booms and Busts?

Downloads 113 (185,031)
Citation 19

What Drives Commodity Price Booms and Busts?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 23/2018, Energy Economics, Vol. 85, No. 104035, 2020
Number of pages: 45 Posted: 04 Nov 2018 Last Revised: 26 Sep 2023
Hong Kong Institute for Monetary and Financial Research
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Downloads 113 (415,239)
Citation 8

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Commodity prices, natural resources, structural VAR

89.

The Macroeconomic Effects of Macroprudential Policy

Downloads 168 (187,691)
Citation 11

The Macroeconomic Effects of Macroprudential Policy

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 18/2018, Journal of International Economics,Volume 118, May 2019, Pages 263-282. New title: "The costs of macroprudential policy"
Number of pages: 48 Posted: 04 Sep 2018 Last Revised: 12 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 10

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macroprudential policy, loan-to-value ratios, local projections, narrative approach

90.

Government without Statistics: Policy-Making in Hong Kong 1925-85, with Special Reference to Economic and Financial Management

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 06/2006
Number of pages: 28 Posted: 20 Aug 2007 Last Revised: 09 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Citation 2

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laisser faire, census, balance of payments, national income, labour, housing, banking, regulation, Hong Kong, China, United Kingdom

91.

Trends and Cycles in China's Macroeconomy

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Citation 44

Trends and Cycles in China's Macroeconomy

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 12/2018, NBEER Macroeconomics Annual, Vol. 30, 2015
Number of pages: 76 Posted: 11 May 2018 Last Revised: 26 Sep 2023
Hong Kong Institute for Monetary and Financial Research
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Citation 6

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Reallocation, between-sector effect, TFP growth, heavy vs. light sectors, long-term vs. short-term loans, labor share, lending frictions, incentive compatibility

92.

Offshore Investment Funds: Monsters in Emerging Markets?

Downloads 201 (189,072)
Citation 27

Offshore Investment Funds: Monsters in Emerging Markets?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 05/2001, Journal of Development Economics, Vol. 68, No. 1, 2002
Number of pages: 31 Posted: 27 Aug 2007 Last Revised: 20 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 201 (257,955)

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offshore funds, foreign investment, crisis, feedback trading, herding

93.

Financial Crisis, Unconventional Monetary Policy and International Spillovers

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 23/2014
Number of pages: 122 Posted: 19 Sep 2014 Last Revised: 01 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 9

Abstract:

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Announcement Effects, Emerging Economies, Financial Markets, Global VECM, International Spillovers, Quantitative Easing, Unconventional Monetary Policy

94.

Interactions between CNY and CNH Money and Forward Exchange Markets

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 13/2014
Number of pages: 36 Posted: 12 Jun 2014 Last Revised: 29 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 8

Abstract:

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Eurodollar, Renminbi, Deliverable Forward Market, Offshore Markets, Regulation Q, Capital Control, Multivariate GARCH, Price Discovery

95.

What Effect Has Bond Market Development in Emerging Asia Had on the Issuance of Corporate Bonds?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 18/2010, Oxford Economic Papers, 66, 227-253 January 2014
Number of pages: 31 Posted: 30 Jun 2010 Last Revised: 07 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 5

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Bond Financing, Financial Indicators, Emerging Asian Markets

96.

Why Do Firms Issue Bonds in the Offshore Market? Evidence from China

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 19/2017
Number of pages: 56 Posted: 21 Sep 2017 Last Revised: 09 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Offshore Financing, Bonding Hypothesis, Signalling Effect, China’s Corporate Bond Market

97.

The Suitability of a Greater China Currency Union

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Citation 5

The Suitability of a Greater China Currency Union

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 12/2004, Pacific Economic Review, 10, 2005, pp. 83-103, 2005
Number of pages: 29 Posted: 08 Jun 2022 Last Revised: 03 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Greater China, Trade and Investment, Common Stochastic Trend, Synchronized and Non-Synchronized Business Cycles, Output Losses, Exchange Rate Regime

98.

Measuring Renminbi Misalignment: Where do We Stand?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 24/2010, Korea and the World Economy, Vol. 11, No. 2 (August 2010), 263-296
Number of pages: 31 Posted: 12 Oct 2010 Last Revised: 07 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 13

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Absolute Purchasing Power Parity, China, Currency Misalignment, Sampling Uncertainty, Data Revision

99.

Transmitting Global Liquidity to East Asia: Policy Rates, Bond Yields, Currencies and Dollar Credit

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Citation 15

Transmitting Global Liquidity to East Asia: Policy Rates, Bond Yields, Currencies and Dollar Credit

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 15/2013
Number of pages: 47 Posted: 28 Oct 2013 Last Revised: 28 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 19

Abstract:

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100.

The Full Convertibility of Renminbi: Sequencing and Influence

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 09/2002, Financial Opening and Macroeconomic Stability, eds. by S. Liu, Z Zhao, and Y Ma, Beijing: Social Sciences Documentation Publishing House, Aug 2004, in both English and Chinese
Number of pages: 45 Posted: 27 Aug 2007 Last Revised: 26 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 2

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convertibility of Renminbi, WTO, China, Hong Kong

101.

A Portfolio Theory of International Capital Flows

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Citation 18

A Portfolio Theory of International Capital Flows

IIIS Discussion Paper No. 124, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 11/2006
Number of pages: 31 Posted: 08 Aug 2006 Last Revised: 09 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 22

Abstract:

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102.

Order Imbalance and the Pricing of Index Futures

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 13/2006, Journal of Futures Markets, Volume 27, Issue 7, Date: July 2007, Pages: 697-717
Number of pages: 24 Posted: 23 Aug 2007 Last Revised: 09 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 257 (204,643)

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103.

How Different are FDI and FPI Flows?: Does Distance Alter the Composition of Capital Flows?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 09/2011, (Published in Journal of Economic Integration, Volume 26, Issue 3, September 2011, Pages 499-525. New title: "How Different are FDI and FPI Flows?: Distance and Capital Market Integration")
Number of pages: 32 Posted: 30 Mar 2011 Last Revised: 22 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 255 (206,290)
Citation 5

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Distance, Foreign Direct Investment (FDI), Foreign Portfolio Investment (FPI), Gravity, Mergers and Acquisitions (M&As)

104.

Honor Thy Creditors Beforan Thy Shareholders: Are the Profits of Chinese State-Owned Enterprises Real?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 16/2009, Asian Economic Papers, Fall 2010, Vol. 9, No. 3: 50–71
Number of pages: 27 Posted: 01 Jun 2009 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 255 (206,290)
Citation 25

Abstract:

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State Owned Enterprises, Soft Budget Constraint, Dividend Policy

105.

Effects of Monetary Policy Shocks on Exchange Rate in Emerging Countries

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 19/2016
Number of pages: 30 Posted: 17 Jan 2017 Last Revised: 05 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 2

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VAR, Monetary Policy Shocks, Exchange Rate, UIP Condition, Delayed Overshooting

106.

Hoarding of International Reserves: Mrs Machlup's Wardrobe and the Joneses

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Citation 13

Hoarding of International Reserves: Mrs Machlup's Wardrobe and the Joneses

Review of International Economics, Volume 17, Issue 4, September 2009, Pages 824-843, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 13/2007
Number of pages: 48 Posted: 09 Jun 2022 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Demand for International reserves, Excessive International reserve Accumulation, Speculative Attack, Keeping Up with the Joneses

107.

Consumption Response to Minimum Wages: Evidence from Chinese Households

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The Consumption Response to Minimum Wages: Evidence from Chinese Households

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 24/2017
Number of pages: 53 Posted: 27 Nov 2017 Last Revised: 15 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Minimum wages; Labor income; Household consumption; Permanent income hypothesis

108.

Sovereign Credit Ratings, Transparency and International Portfolio Flows

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 12/2014, Vanderbilt Owen Graduate School of Management Research Paper No. 2445765
Number of pages: 56 Posted: 05 Jun 2014 Last Revised: 29 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Citation 11

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Asymmetric Effects, Portfolio Flows, Sovereign Rating Agencies

109.

China as a Reserve Sink: The Evidence from Offset and Sterilization Coefficients

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 10/2007, Journal of International Money and Finance, Vol. 29, No. 5, 2010
Number of pages: 31 Posted: 20 Aug 2007 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Balance of payments, China, Capital Mobility, Reserves, Sterilization

110.

China’s LGFV Crisis 2011: The Conflict between Local Autonomy, National Interest and Financial Reforms

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 03/2012
Number of pages: 27 Posted: 21 Jan 2012 Last Revised: 25 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 246 (213,642)
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Local Government, Banks, Fiscal Autonomy, Legal and Financial Infrastructures

111.

SOE and Chinese Real Business Cycle

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 02/2016, Published in Annals of Economics & Finance, 21-2, 415-469 (2020)
Number of pages: 63 Posted: 06 Feb 2016 Last Revised: 26 Sep 2023
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Citation 3

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State-owned Enterprise, real business cycle, vertical structure, financial friction, permanent shocks, Bayesian estimation

112.

The Global Crisis: Why Laisser-Faire Hong Kong Prefers Regulation

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Citation 1

The Global Crisis: Why Laisser-Faire Hong Kong Prefers Regulation

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 01/2010
Number of pages: 24 Posted: 22 Jun 2010 Last Revised: 07 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Laisser Faire, Autonomy, Regulation, Competition, Moral Hazard, Virtuous Markets, United States, United Kingdom

113.

Rental Adjustment and Housing Prices: Evidence from Hong Kong's Residential Property Market

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 01/2013
Number of pages: 29 Posted: 30 Jan 2013 Last Revised: 15 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Rental Adjustment, Residential Property Market, Price-To-Rent Ratio

114.

International Asset Allocations and Capital Flows: The Benchmark Effect

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Citation 34

International Asset Allocations and Capital Flows: The Benchmark Effect

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 04/2015
Number of pages: 67 Posted: 17 Feb 2015 Last Revised: 02 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Citation 21

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Benchmark Indexes, Contagion, Coordination Mechanism, ETFs, International Asset Prices, International Portfolio Flows, Mutual Funds

115.

Does Using Time-Varying Target Leverage Ratios in Structural Credit Risk Models Improve Their Accuracy?

Journal of Risk Model Validation, Volume 6/Number 3, page 27-49, 2012, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 04/2008
Number of pages: 24 Posted: 07 Mar 2008 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 3

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Leverage, Default probabilities, Credit risk

116.

The Great Retrenchment: International Capital Flows During the Global Financial Crisis

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 38/2011
Number of pages: 53 Posted: 01 Jan 2012 Last Revised: 22 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Citation 21

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117.

Environmental Factors Affecting Hong Kong Banking: A Post-Asian Financial Crisis Efficiency Analysis

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 12/2008, Global Finance Journal, Volume 23, Issue 3, Pages 184-201, 2012
Number of pages: 28 Posted: 16 Jul 2008 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Finance and Banking, Productivity, Efficiency

118.

The Information Content of Option Implied Volatility Surrounding the 1997 Hong Kong Stock Market Crash

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 21/2005, Journal of Futures Markets, 27(6), 2007, pp. 555-574
Number of pages: 23 Posted: 06 Feb 2008 Last Revised: 08 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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119.

Funding Constraints and Market Illiquidity in the European Treasury Bond Market

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Citation 2

Funding Constraints and Market Illiquidity in the European Treasury Bond Market

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 21/2018
Number of pages: 61 Posted: 10 Oct 2018 Last Revised: 31 Oct 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 76 (540,519)
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Illiquidity, Asset Pricing, Identification, Heteroskedasticity

120.

US Monetary Policy Spillovers

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 17/2017, Journal of Monetary Economics, Vol. 114, 2020
Number of pages: 42 Posted: 03 Aug 2017 Last Revised: 25 Sep 2023
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(HKIMR)
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Citation 3

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US Monetary Policy Spillovers, Emerging Market Economies, Policy Dilemma vs. Trilemma, Policy Tradeoffs, Panel VAR

121.

Jumpstarting an International Currency

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Citation 6

Jumpstarting an International Currency

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 19/2020
Number of pages: 68 Posted: 03 Mar 2021 Last Revised: 09 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Citation 7

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122.

How Does Loan-to-Value Policy Strengthen Banks’ Resilience to Property Price Shocks – Evidence from Hong Kong

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 03/2014, International Real Estate Review, Vol.19(1), (Spring 2016), pages 121-150
Number of pages: 32 Posted: 20 Feb 2014 Last Revised: 28 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 232 (226,197)
Citation 15

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Banking, Disequilibrium, Hong Kong, Loan-To-Value, Macroprudential Policy

123.

Order Imbalance and the Dynamics of Index and Futures Prices

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 07/2007, Journal of Futures Markets, 2007, 27(12): 1129-57
Number of pages: 29 Posted: 21 Aug 2007 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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124.

The Chinese Corporate Savings Puzzle: A Firm-Level Cross-Country Perspective

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Citation 4

The Chinese Corporate Savings Puzzle: A Firm-Level Cross-Country Perspective

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 20/2012, Columbia Business School Research Paper No. 12/51, the book “Capitalizing China" edited by Joseph P. H. Fan and Randall Morck
Number of pages: 33 Posted: 31 Aug 2012 Last Revised: 26 Jul 2022
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125.

The Renminbi Central Parity: An Empirical Investigation

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Citation 8

The Renminbi Central Parity: An Empirical Investigation

Pacific Economic Review, Volume 23, Issue 2, Pages 164-183, May 2018, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 10/2016
Number of pages: 33 Posted: 20 Jun 2016 Last Revised: 05 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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China, RMB, exchange rate policy, central parity rate, on-shore and off-shore rates

126.

Hong Kong's Exchange Rate Regimes in the Twentieth Century: The Story of Three Regime Changes

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 17/2004
Number of pages: 44 Posted: 23 Aug 2007 Last Revised: 03 Aug 2022
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127.

China's Capital Controls - Through the Prism of Covered Interest Differentials

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Citation 7

China's Capital Controls – Through the Prism of Covered Interest Differentials

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 14/2013, Pacific Economic Review, Volume 19, Issue 1, February 2014, Pages: 112–134
Number of pages: 32 Posted: 25 Sep 2013 Last Revised: 28 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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NDF Implied RMB Interest Rate, Capital Controls, Asymmetric Response, Macro Determinants, Credit Market Tightness

128.

Insider Trading in Hong Kong: Tests of Stock Returns and Trading Frequency

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 04/2009, Review of Pacific Basin Financial Markets and Policies, Volume 14, Issue 3, pp. 505-533, 2011
Number of pages: 35 Posted: 02 Feb 2009 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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129.

Determinants and Dynamics of Price Disparity in Onshore and Offshore Renminbi Forward Exchange Rate Markets

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 24/2012
Number of pages: 25 Posted: 03 Nov 2012 Last Revised: 08 Nov 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Citation 5

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price disparity, Renminbi forward exchange rates, onshore and offshore markets, spot rate model

130.

Nowcasting Chinese GDP: Information Content of Economic and Financial Data

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 04/2011, China Economic Journal, 2010, Volume 3, Issue 3, Pages 223 – 240
Number of pages: 26 Posted: 28 Feb 2011 Last Revised: 20 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 228 (229,944)
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Large Data Set, Pseudo Real Time Estimates, Factor Model, Kalman Filtering, Nowcasting, Information Content

131.

The Foreign Exchange Origins of Japan's Economic Slump and Low Interest Liquidity Trap

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 05/2000, The World Economy, 24(3), 2001, pp. 279-315
Number of pages: 37 Posted: 28 Aug 2007 Last Revised: 20 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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132.

China's Monetary Policy Communication: Money Markets Not Only Listen, They Also Understand

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 02/2013
Number of pages: 35 Posted: 18 Jan 2013 Last Revised: 28 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Citation 7

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China Monetary Policy Communication, Money Market

133.

Making Markets: Reforms to Strengthen Asia's Debt Capital Markets

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 13/2004
Number of pages: 55 Posted: 23 Aug 2007 Last Revised: 03 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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134.

Capital Market Financing, Firm Growth, and Firm Size Distribution

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Capital Market Financing, Firm Growth, and Firm Size Distribution

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 17/2015, Journal of International Money and Finance, Volume 118, November 2021, 102459
Number of pages: 48 Posted: 01 Sep 2015 Last Revised: 26 Sep 2023
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 61 (610,081)

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Access to Finance, Bond Markets, Capital Market Development, Capital Raisings, Firm Dynamics, Firm Financing, Stock Markets

135.

Shadow Banking and Bank Capital Regulation

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 32/2014, Review of Financial Studies, Volume 28, Issue 1, January 2015, Pages 146-175
Number of pages: 39 Posted: 02 Jan 2015 Last Revised: 01 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 222 (235,829)
Citation 52

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136.

China: Credit, Collateral, and Commodity Prices

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 27/2015
Number of pages: 38 Posted: 30 Dec 2015 Last Revised: 05 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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137.

Expenditure Switching vs. Real Exchange Rate Stabilization: Competing Objectives for Exchange Rate Policy

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Citation 14

Expenditure Switching vs. Real Exchange Rate Stabilization: Competing Objectives for Exchange Rate Policy

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 08/2005, Journal of Monetary Economics, In Press, Corrected Proof, Available online 27 December 2006 Published in Journal of Monetary Economics, 2007, 54(8): 2346-2374
Number of pages: 31 Posted: 23 Aug 2007 Last Revised: 08 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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138.

Elasticity Optimism

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Citation 89

Elasticity Optimism

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 24/2008, American Economic Journal: Macroeconomics, Volume 7, Issue 3, Pages 43-83, July 2015
Number of pages: 39 Posted: 04 Jan 2009 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 56 (637,103)
Citation 22

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Trade Elasticities, Aggregation, Calibration, Global Imbalances, International Transmission, International Portfolio, Monetary Policy

139.

Carry Trades and the Performance of Currency Hedge Funds

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 03/2013, Journal of International Money and Finance, Volume 33, March 2013, Pages 407-425
Number of pages: 35 Posted: 18 Jan 2013 Last Revised: 28 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 217 (240,906)
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Hedge Funds, Foreign Exchange, Asset Allocation, Funds Performance Evaluation

140.

The Property Market and the Macroeconomy of the Mainland: A Cross Region Study

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Citation 2

The Property Market and the Macroeconomy of the Mainland: A Cross Region Study

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 05/2007, Pacific Economic Review, 2008, 13(2): 240 - 258
Number of pages: 29 Posted: 21 Aug 2007 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 74 (549,084)
Citation 1

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Property Market, Macroeconomy, China

141.

A Currency Board Model of Hong Kong

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 01/2002
Number of pages: 29 Posted: 23 Aug 2007 Last Revised: 08 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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currency board, stochastic simulation, certainty equivalence, Hong Kong

142.

Central Bank Governance: Common Elements or Different Models?

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 20/2003
Number of pages: 44 Posted: 23 Aug 2007 Last Revised: 01 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Central bank governance, corporate governance, monetary policy independence, credibility, transparency, accountability, Australia, New Zealand, Hong Kong, Singapore, inflation targeting, exchange rate targeting, currency board

143.

The Chinese Economies in Global Context: The Integration Process and its Determinants

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Citation 5

The Chinese Economies in Global Context: The Integration Process and its Determinants

UC Santa Cruz International Economics Working Paper No. 03-16; UC Santa Cruz Economics Working Paper No. 552, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 07/2005, Journal of Japanese and International Economies, Vol. 20, No. 1, 2006
Number of pages: 32 Posted: 12 Nov 2003 Last Revised: 05 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 167 (304,228)

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uncovered interest parity, real interest parity, purchasing power parity, exchange rates, capital mobility, market integration

144.

The Cost of Bank Regulatory Capital

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Citation 5

The Cost of Bank Regulatory Capital

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 05/2020
Number of pages: 56 Posted: 06 Apr 2020 Last Revised: 15 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 112 (418,026)
Citation 1

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Basel Accords, Capital Regulation, Cost of Capital, Loan Spreads

145.

To Guide or Not to Guide? Quantitative Monetary Policy Tools and Macroeconomic Dynamics in China

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Citation 11

To Guide or Not to Guide? Quantitative Monetary Policy Tools and Macroeconomic Dynamics in China

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 09/2017, International Journal of Central Banking , 2020, Volume 16(5), pages 49-94
Number of pages: 53 Posted: 06 Jun 2017 Last Revised: 08 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 82 (516,119)
Citation 8

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monetary policy, window guidance, China, DSGE model

146.

Anti-Comparative Advantage: A Puzzle in U.S.-China Bilateral Trade

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 09/2015
Number of pages: 29 Posted: 11 Apr 2015 Last Revised: 02 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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147.

Performance Analysis of Liquidity Indicators as Early Warning Signals

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 30/2014
Number of pages: 40 Posted: 18 Dec 2014 Last Revised: 01 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Liquidity Creation, Net Stable Funding Difference, Liquidity Ratio, Funding Diversification, Income Diversification

148.

Monetary Policy and Bank Lending in China — Evidence from Loan-Level Data

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 16/2013
Number of pages: 44 Posted: 28 Oct 2013 Last Revised: 28 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Monetary Policy, Bank Lending, The People’s Bank of China (PBC)

149.

Investment and Asset Growth of Asian Firms: Evidence for Financial Resilience in the Recent Financial Crisis

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 32/2012
Number of pages: 34 Posted: 22 Dec 2012 Last Revised: 28 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 208 (250,538)
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Internal Finance, Cash Flow, Investment, Growth, Financial Constraints

150.

Market Liquidity and Funding Liquidity: An Empirical Investigation

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 15/2010
Number of pages: 24 Posted: 30 Jun 2010 Last Revised: 07 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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151.

Return, Trading Volume, and Market Depth in Currency Futures Markets

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 20/2008, International Journal of Applied Economics, 2008, 5(2): 1-23
Number of pages: 24 Posted: 08 Jan 2009 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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Stochastic Volatility Model, Multiple Latent Factors, Model Comparison, Volatility Spillovers

152.

International Macroeconomic Fluctuations: A New Open Economy Macroeconomics Interpretation

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 23/2008, Macroeconomic Dynamics, Volume 19, Issue 7, pp. 1509 - 1539, October 2015. New title: "International Macroeconomic Fluctuations"
Number of pages: 45 Posted: 04 Jan 2009 Last Revised: 06 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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New Open Economy Macroeconomics, Structural VAR

153.

The Design of a Central Counterparty

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 21/2021, Swedish House of Finance Research Paper No. 21-17, Proceedings of Paris December 2021 Finance Meeting EUROFIDAI - ESSEC
Number of pages: 57 Posted: 16 Sep 2021 Last Revised: 11 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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CCP, Financial Stability, Contracting, Market Design.

154.

Gravity in International Finance

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 07/2010, Journal of International Economics, Vol. 87, No. 2, 2012
Number of pages: 61 Posted: 22 Jun 2010 Last Revised: 07 Sep 2022
Hong Kong Institute for Monetary and Financial Research
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155.

The Transfer Problem Revisited: Net Foreign Assets and Real Exchange Rates

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Citation 15

The Transfer Problem Revisited: Net Foreign Assets and Real Exchange Rates

IMF Working Paper No. 00/123, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 06/2000, Review of Economics and Statistics, Vol. 86, No. 4, 2004
Number of pages: 39 Posted: 01 Feb 2006 Last Revised: 20 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 177 (289,199)
Citation 12

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Real exchange rates, net foreign assets, terms of trade

156.

The Effectiveness of Monetary Policy in China: Evidence from a Qual VAR

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 06/2016
Number of pages: 38 Posted: 11 May 2016 Last Revised: 05 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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China, monetary policy, Qual VAR, transmission mechanism, asset prices, financial stability

157.

An Output Perspective on a Northeast Asia Currency Union

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An Output Perspective on a Northeast Asia Currency Union

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 16/2005, Prospects for Monetary Unions after the Euro, 2005, Chapter 11, pp. 289-317, The MIT Press, 2005
Number of pages: 28 Posted: 08 Jun 2022 Last Revised: 08 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Common Stochastic Trend, Business Cycles, Output Losses, Exchange Rate Regime, Asian Economies

158.

Pricing Corporate Bonds with Interest Rates Following Double Square-Root Process

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Pricing Corporate Bonds with Interest Rates Following Double Square-Root Process

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 11/2016, International Journal of Financial Engineering Vol. 3, No. 3, 1650015 (2016)
Number of pages: 41 Posted: 20 Jun 2016 Last Revised: 05 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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Corporate bond pricing model; Stochastic interest rate; Leverage ratio

159.

Return Comovement

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Citation 2

Return Comovement

Vanderbilt Owen Graduate School of Management Research Paper No. 3011841, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 16/2017, Journal of Banking and Finance, Vol. 112, No. 105223, 2020
Number of pages: 35 Posted: 03 Aug 2017 Last Revised: 26 Sep 2023
Hong Kong Institute for Monetary and Financial Research
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Citation 2

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Asset Pricing, Information and Market Efficiency, International Financial Markets, Financial Economics, Trilema

160.

The Great Recession: A Self-Fulfilling Global Panic

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Citation 8

The Great Recession: A Self-Fulfilling Global Panic

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 09/2013
Number of pages: 53 Posted: 04 Jul 2013 Last Revised: 28 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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161.

Fiscal Crisis Resolution: Taxation versus Inflation

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 10/2004, No.874, 2004 Meeting Papers, Society for Economic Dynamics
Number of pages: 32 Posted: 22 Aug 2007 Last Revised: 03 Aug 2022
Hong Kong Institute for Monetary and Financial Research
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162.

Optimum Currency Area for Mainland China and Hong Kong? Empirical Tests

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 16/2002
Number of pages: 27 Posted: 27 Aug 2007 Last Revised: 26 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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163.

Export Dynamics in Large Devaluations

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Citation 4

Export Dynamics in Large Devaluations

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 06/2013
Number of pages: 48 Posted: 11 May 2013 Last Revised: 28 Jul 2022
Hong Kong Institute for Monetary and Financial Research
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Downloads 40 (739,113)
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Export Dynamics, Devaluation, Net Exports

164.

Output Gaps and Inflation in Mainland China

BIS Working Paper No. 194, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 20/2005, China Economic Review, Vol. 17, No. 2, 2006
Number of pages: 23 Posted: 20 Sep 2007 Last Revised: 08 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 196 (264,419)
Citation 6

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Output gap, Phillips curve, China, omitted variables

165.

The Rise of China’s Service Sector

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 19/2021
Number of pages: 43 Posted: 10 Jan 2022 Last Revised: 11 Sep 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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166.

Price Cointegration between Sovereign CDS and Currency Option Markets in the Financial Crises of 2007-2013

International Review of Economics & Finance, 40 (2015) 174–190, Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 40/2011
Number of pages: 17 Posted: 01 Jan 2012 Last Revised: 22 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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Citation 1

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Sovereign Risk, Currency Options, Credit Default Swaps, Cointegration

167.

Detecting Bubbles in the Hong Kong Residential Property Market: An Explosive-Pattern Approach

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 01/2012, Journal of Asian Economics, Vol. 28, 2013
Number of pages: 18 Posted: 21 Jan 2012 Last Revised: 22 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 194 (266,831)
Citation 13

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Asset Bubble, Residential Property Prices, Right-Tailed Unit Root Test, Explosive Behaviour, Price-To-Rent Ratio

168.

High-Frequency Trading in the U.S. Treasury Market Around Macroeconomic News Announcements

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 19/2018
Number of pages: 48 Posted: 27 Aug 2018 Last Revised: 12 Aug 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
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High-frequency Trading; Macroeconomic News Announcements; U.S. Treasury Market; Market Liquidity; Price Efficiency

169.

Multiproduct Firms, Export Product Scope, and Trade Liberalization: The Role of Managerial Efficiency

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 02/2014
Number of pages: 53 Posted: 28 Jan 2014 Last Revised: 28 Jul 2022
Hong Kong Institute for Monetary and Financial Research
(HKIMR)
Downloads 191 (270,671)
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Multiproduct Firm, Management Cost, Managerial Efficiency, Export Product Scope, Trade Liberalization, China

170.

Solving for Country Portfolios in Open Economy Macro Models