Exploring the Case for Monetary Integration between the Chinese Mainland and Hong Kong
AbstractThis paper presents an empirical investigation on an important policy issue, namely, whether there is any evidence supporting monetary integration between the Chinese mainland and Hong Kong. We follow two lines of inquiry. First, we present a series of simple tests to find the extent to which trade and/or financial linkages exist between the two regions. Second, we use simple inflation and output differentials and structural VAR techniques to test for the degree of business cycle synchronization between the two regions. The results indicate that there is evidence supporting the existence of trade linkages and that there is also support for the possible synchronization of business cycles. We discuss the implications of this for monetary integration between Hong Kong and the mainland. Copyright 2007 Institute of World Economics and Politics, Chinese Academy of Social Sciences.
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Bibliographic InfoArticle provided by Institute of World Economics and Politics, Chinese Academy of Social Sciences in its journal China & World Economy.
Volume (Year): 15 (2007)
Issue (Month): 4 ()
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- Andrew Hughes Hallett & Christian Richter, 2011.
"Trans-Pacific Economic Relations and US-China Business Cycles : Convergence within Asia versus US Economic Leadership,"
Governance Working Papers
23244, East Asian Bureau of Economic Research.
- Andrew Hughes Hallett & Christian Richter, 2011. "Trans-Pacific Economic Relations and US-China Business Cycles : Convergence within Asia versus US Economic Leadership," Development Economics Working Papers 23244, East Asian Bureau of Economic Research.
- Hallett, Andrew Hughes & Richter, Christian, 2011. "Trans-Pacific Economic Relations and US-China Business Cycles: Convergence within Asia versus US Economic Leadership," ADBI Working Papers, Asian Development Bank Institute 292, Asian Development Bank Institute.
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