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Impact of CEPA on the labor market of Hong Kong

Author

Listed:
  • Ching, Steve
  • Hsiao, Cheng
  • Wan, Shui Ki

Abstract

A panel data method is used to evaluate the impact of the Closer Economic Partnership Agreement (CEPA) signed between Mainland China and Hong Kong. Using the time series data of Hong Kong, Austria, Denmark, Finland, France, Germany, Italy, Japan, Korea, Netherlands, Norway, Singapore, Taiwan, U.K., and U.S. to construct what would have happened to Hong Kong's unemployment rate had there been no CEPA, we find that the CEPA effects gradually increases over time and eventually reached a constant level of reducing Hong Kong's unemployment rate by 9% a year.

Suggested Citation

  • Ching, Steve & Hsiao, Cheng & Wan, Shui Ki, 2012. "Impact of CEPA on the labor market of Hong Kong," China Economic Review, Elsevier, vol. 23(4), pages 975-981.
  • Handle: RePEc:eee:chieco:v:23:y:2012:i:4:p:975-981
    DOI: 10.1016/j.chieco.2012.04.017
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    References listed on IDEAS

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    1. Angrist, Joshua D. & Krueger, Alan B., 1999. "Empirical strategies in labor economics," Handbook of Labor Economics,in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 23, pages 1277-1366 Elsevier.
    2. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
    3. Lucas, Robert Jr. & Prescott, Edward C., 1974. "Equilibrium search and unemployment," Journal of Economic Theory, Elsevier, vol. 7(2), pages 188-209, February.
    4. Joshua D. Angrist & Victor Lavy, 1999. "Using Maimonides' Rule to Estimate the Effect of Class Size on Scholastic Achievement," The Quarterly Journal of Economics, Oxford University Press, vol. 114(2), pages 533-575.
    5. Damrongplasit, Kannika & Hsiao, Cheng & Zhao, Xueyan, 2010. "Decriminalization and Marijuana Smoking Prevalence: Evidence From Australia," Journal of Business & Economic Statistics, American Statistical Association, vol. 28(3), pages 344-356.
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    Cited by:

    1. Li, Hongjun & Li, Qi & Shi, Yutang, 2017. "Determining the number of factors when the number of factors can increase with sample size," Journal of Econometrics, Elsevier, vol. 197(1), pages 76-86.
    2. repec:eee:chieco:v:44:y:2017:i:c:p:203-226 is not listed on IDEAS

    More about this item

    Keywords

    Panel data; Counterfactual analysis; Hong Kong labor market; Unemployment;

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling

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