國立虎尾科技大學 |

Economic integration in the Chinese Economic Area (CEA) : = Modeling, estimating and testing.

紀錄類型:	書目-語言資料,手稿 : Monograph/item
正題名/作者:	Economic integration in the Chinese Economic Area (CEA) :/
其他題名:	Modeling, estimating and testing.
作者:	Li, Eugene Yunqi.
面頁冊數:	1 online resource (190 pages)
附註:	Source: Dissertations Abstracts International, Volume: 56-11, Section: A.
Contained By:	Dissertations Abstracts International56-11A.
標題:	Finance. -
電子資源:	click for full text (PQDT)
ISBN:	9798209052777

Economic integration in the Chinese Economic Area (CEA) : = Modeling, estimating and testing.
Li, Eugene Yunqi.

Economic integration in the Chinese Economic Area (CEA) :Modeling, estimating and testing. - 1 online resource (190 pages)

Source: Dissertations Abstracts International, Volume: 56-11, Section: A.

Thesis (Ph.D.)--University of California, Santa Cruz, 1994.

Includes bibliographical references

This thesis is divided into three chapters. Chapter 1 examines the extent of integration of both goods markets and financial markets between China, Taiwan and Hong Kong. The key issue it addresses is: to what extent are goods and asset prices in China, Taiwan, and Hong Kong linked to each other? The analysis employs two econometric techniques, Two Stage Least Squares estimation and the Johansen test, to attempt to find some evidence in favor of purchasing power parity (PPP), or uncovered interest parity (UIP), between Hong Kong and Taiwan in recent years. We also analyze the basic preconditions for an integrated financial market in China. The tests reject PPP and UIP, suggesting that markets in the Chinese Economic Area are incompletely integrated. Chapter 2 estimates the probability market participants hold that Hong Kong's economy will continue on its current course in the years leading up to 1997. By using asset price data in a regime shift model to estimate this probability over time, we find how markets reflect agents' beliefs about the possibility that the liberal market economy of Hong Kong will continue after 1991 or be severely curtailed. We find that stock and real property prices are very responsive to political events and announcements in China regarding future policies towards Hong Kong in the direction we might expect. Chapter 3 employs a Vector Autoregression methodology to analyze the degree to which economic variables in one economy affect endogenous variables in another economy. It empirically measures the extent to which Taiwan and Hong Kong's policy variables, inflation rates and trade volumes affect industrial production in three economic regions of China over the period from 1985 through 1992. The results indicate that the greater regional income per capita is, the larger is the effect of Taiwan's or Hong Kong's economic performance and policies on that regions output. We also find that this impact is greater in the second-half of this period than in the first, and that Hong Kong's impact is greater than that of Taiwan. The chapter also estimates how the impact has dispersed in the three economic regions of China since 1989.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798209052777Subjects--Topical Terms:

559073
Finance.
Index Terms--Genre/Form:

554714
Electronic books.

Economic integration in the Chinese Economic Area (CEA) : = Modeling, estimating and testing.
LDR:03506ntm a22003497 4500 001 1142362
005 20240416125400.5
006 m o d
007 cr mn ---uuuuu
008 250605s1994 xx obm 000 0 eng d
020 $a 9798209052777
035 $a (MiAaPQ)AAI9512181
035 $a AAI9512181
040 $a MiAaPQ $b eng $c MiAaPQ $d NTU
100 1 $a Li, Eugene Yunqi. $3 1466641
245 1 0 $a Economic integration in the Chinese Economic Area (CEA) : $b Modeling, estimating and testing.
264 0 $c 1994
300 $a 1 online resource (190 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertations Abstracts International, Volume: 56-11, Section: A.
500 $a Publisher info.: Dissertation/Thesis.
500 $a Advisor: Kletzer, Kenneth;Chinn, Menzie;Montes, Mannuel.
502 $a Thesis (Ph.D.)--University of California, Santa Cruz, 1994.
504 $a Includes bibliographical references
520 $a This thesis is divided into three chapters. Chapter 1 examines the extent of integration of both goods markets and financial markets between China, Taiwan and Hong Kong. The key issue it addresses is: to what extent are goods and asset prices in China, Taiwan, and Hong Kong linked to each other? The analysis employs two econometric techniques, Two Stage Least Squares estimation and the Johansen test, to attempt to find some evidence in favor of purchasing power parity (PPP), or uncovered interest parity (UIP), between Hong Kong and Taiwan in recent years. We also analyze the basic preconditions for an integrated financial market in China. The tests reject PPP and UIP, suggesting that markets in the Chinese Economic Area are incompletely integrated. Chapter 2 estimates the probability market participants hold that Hong Kong's economy will continue on its current course in the years leading up to 1997. By using asset price data in a regime shift model to estimate this probability over time, we find how markets reflect agents' beliefs about the possibility that the liberal market economy of Hong Kong will continue after 1991 or be severely curtailed. We find that stock and real property prices are very responsive to political events and announcements in China regarding future policies towards Hong Kong in the direction we might expect. Chapter 3 employs a Vector Autoregression methodology to analyze the degree to which economic variables in one economy affect endogenous variables in another economy. It empirically measures the extent to which Taiwan and Hong Kong's policy variables, inflation rates and trade volumes affect industrial production in three economic regions of China over the period from 1985 through 1992. The results indicate that the greater regional income per capita is, the larger is the effect of Taiwan's or Hong Kong's economic performance and policies on that regions output. We also find that this impact is greater in the second-half of this period than in the first, and that Hong Kong's impact is greater than that of Taiwan. The chapter also estimates how the impact has dispersed in the three economic regions of China since 1989.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2024
538 $a Mode of access: World Wide Web
650 4 $a Finance. $3 559073
655 7 $a Electronic books. $2 local $3 554714
690 $a 0501
690 $a 0508
690 $a 0511
710 2 $a University of California, Santa Cruz. $3 1185267
710 2 $a ProQuest Information and Learning Co. $3 1178819
773 0 $t Dissertations Abstracts International $g 56-11A.
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9512181 $z click for full text (PQDT)