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HK Centre for Economic Research

 
 
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1. Synopsis of "Towards the Ultimate Agrarian Reform in China"
Dengxiaopeng's agrarian reform undertaken in 1978 by way of replacing collectivism by a system of household responsibilities was a great but short-lived success. Since the 90's, the situation has fast deteriorated due to a host of factors.
1 Feb 2008
2. Unlocking the Winner's Curse in the Application List System
Property prices in Hong Kong hit a record high in October 1997. Less than six years later, the market went down by 66% and hit rock bottom in July 2003. In January 2006, the market prices were still 48% below the peak.
1 March 2006
3. The Political Economy of Interest Rate Deregulation and Interest Rate Targeting
Recently, the Hong Kong Monetary Authority (HKMA) announced three refinements to the operation of the Linked Exchange Rate System that aim at promoting stability and smooth functioning.
1 Dec 2005
4. Bottlenecks in Logistics --- Cross-Boundary Road-Freight Industry
In recent years, the government of the Hong Kong Special Administrative Region (HKSAR) has positioned the logistics industry as the future driving force behind the Hong Kong economy.
1 June 2005
5. The Giant Sucking Sound: Is China Diverting Foreign Direct Investment from East Asia and Latin America?
In recent years, China has become a favorite destination for foreign direct investment (FDI). In 2002, foreign direct investment in China reached US$53 billion. For 2003, despite the problems associated with SARS (Severe Acute Respiratory Syndrome) ...
1 Feb 2005
6. United States Direct Investment in China
"I remember distinctly my first meeting with Deng X'iao-ping, who at that time was China's supreme leader and great innovator. He was in many respects, the bluntest and most direct foreign leader I had ever met….He wanted economic development for China as rapidly as possible.
1 Oct 2004
7. GST and Government Bond
Mr. Henry Tang's first budget includes an innovative idea that caught media attention. Tang proposed a Personalized Vehicle Registration Marks Scheme that allows vehicle owners to choose their preferred license plates.
1 June 2004
8. Reflections on the New Taiwan Dollar
Appreciation in the Mid 1980's

The renminbi has recently been in the spotlight in the international finance arena. Will China succumb to U.S. pressure and realign the exchange rate of the renminbi against the U.S. dollar?
1 June 2004
9. Trade and Investment: China, The United States, and the Asia-Pacific Economies
China's trade and direct investment have some interesting characteristics. In this introductory section, I will first describe some of these stylized features. In particular, I would like to highlight six aspects.
1 Feb 2004
10. The Economic Impact of China's Emergence as a Major Trading Nation
The key to understanding the international impact of China's emergence as a major economic power, as marked by its accession to the World Trade Organization (WTO), is that the global division of labor at the end of the last millennium was a highly unnatural one.
1 Dec 2003
11. Cleanliness and Punishment
Severe Acute Respiratory Syndrome (SARS) has taught us the importance of environmental hygiene in a way that no publicity campaign can. Yet, old habits die hard. A person who ignores sound hygiene practices can put himself as well as the wider community at risk.
1 Aug 2003
12. The Incredible 2003-04 Budget1
Hong Kong fiscal deficit is estimated to reach an unprecedented level at HK$70 billion for 2002-03. It will amount to 5.5% of GDP for 2002-03, a level significantly higher than those in the United States (US) and European Union (EU).
1 Aug 2003
13. Freedom of Information and the Economic Future of Hong Kong
It would be an understatement to say that the pending legislation on Article 23 is of critical importance to the future of Hong Kong. Many commentators have discussed the political and social implications of this legislation in and outside Hong Kong.
1 Aug 2003
14. Deflation: Is It Really a Problem; If So, What Should Be Done?
Jan - Apr 2003 Tony Latter 1 Deflation was benign during the late nineteenth century, but pernicious during the Great Depression. It has been extremely troublesome in Japan of late, but seemingly not
1 April 2003
15. Shanghai: Another Hong Kong?
Sept-Dec 2002 Introduction Shanghai and Hong Kong are both well known internationally as leading business and economic centers in Asia. Shanghai's reputation was established primarily before the Second World War when it was one of the most open and secure cities in a land of unending turmoil;
1 Dec 2002
16. Public Housing Reform and Its Effects on the Private Housing Market
July/August 2002 Introduction Ever since the onset of the Asian financial turmoil, Hong Kong's public housing policy has come under considerable criticism. At the heart of the matter is the depressed state of the private property market. Since 1997, property prices have corrected by as
1 Aug 2002
17. China in the 21st Century - A Hong Kong Perspective of Future Opportunities and Challenges
Introduction It is my pleasure to be here to speak on a subject very close to my heart: China's economy in the 21st century. I would like to add that I am going to talk from a Hong Kong perspective. We are from Hong Kong, we very much believe in the Hong
1 June 2002
18. The Link, Re-link and No Link
Ever since its inception in October 1983, the linked exchange rate system (henceforth the link) in Hong Kong has been a recurrent topic of dispute in public policy, and more so when the economy runs into difficulties. In the discussion of public economic
1 Jan 2002
19. China-United States Bilateral Trade Balances 1990 - 2000
1. Introduction On December 11, 2001, China became the 143rd member of the World Trade Organization (WTO). China's entry into the WTO signaled to the world that China will continue to liberalize its markets. Nevertheless, it is expected that economic relations
1 Sept 2001
20. A Historical Perspective on the New Economy
Introduction The essence of the "new economy" is quickly stated. By the end of the 1950's electronic computers had largely replaced mechanical and electromechanical calculators and sorters as the world's automated calculating devices. Back then, there were roughly
1 July 2001
 
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