Traditional explanations for indirect trade through an entrepôt focus on savings in transport costs and the role of specialized agents in processing and distribution. We provide an alternative perspective based on the potential for entrepôts to facilitate tariff evasion. Using data on direct exports to mainland China and indirect exports via Hong Kong SAR, we find that the indirect export rate ...

The property market of Hong Kong is one of the most volatile in the world. This study attempts to investigate the proposition that the Hong Kong residential market is only driven by fundamentals. The investigation is based on a Markov switching present value model, which explicitly accounts for a rational speculative bubble. The estimates show that not only does the model capture the asymmetric...

The objective of this study is to examine the effect of prevailing market sentiments in real estate markets on the stock market response to the outcomes of real estate auctions in Hong Kong. The reactions of stock market to the winners of the auctions have at least two interesting implications. On one hand, the success in acquiring a real estate implies that the developer has acquired a project...

Innovation system research serves as a useful tool for policy learning. Borrowing the metaphor of forensics, this paper seeks to formulate a simple approach for analyzing the “cause of death” for innovation policy initiatives. This analytical framework is applied to an analysis of the fate of biotechnology in Hong Kong. The paper investigates one specific initiative, The Hong Kong Institute of ...

(Department of Computer Science, The University of Hong Kong, Pokfulam, Hong Kong) (Department of Computer Science, City University of Hong Kong, Tat Chee Avenue, Hong Kong) (Department of Computer Science, The University of Hong Kong, Pokfulam, Hong Kong) (China Merchants Bank, Central, Hong Kong) + Corresponding author: Phone: +852 2788 9684, Fax: +852 2788 8614, E-mail: [email protected]...

This paper, based on the Brockman and Chung (2003) framework, tests the hypothesis that H-shares registered under Chinese law (with lower level of investor protection and legal enforcement) are associated with higher levels of opportunistic earnings management than local shares registered under Hong Kong law, which are traded on the same Hong Kong equity market. The results using a sample of 85...

English is an important language in Hong Kong, an international city located on the southern coast of the People’s Republic of China that, for over 150 years to 1997, was a British colony. This paper describes and analyses changes in teaching methodologies in the English language curriculum formally proposed for Hong Kong junior secondary schools from 1975 to the present day, to study how the c...

We examined the effects of trading volume on the persistence of the time-varying conditional volatility of returns and the dynamic relations between trading volume and returns (and volatility) for both domestic and cross-country markets. We considered daily prices and trading volume in four Asian stock exchanges (Korea, Japan, China, and Hong Kong). For the analysis, we used the GARCH model, wh...

In a recen t study, Peng and Wheaton empirically exam ine the effect of restricti ve land supply on Hong Kong house prices. However, we argue that the impact of the supply of new land by the Hong Kong government is not as important as they maintain in accounting for the volatile house prices in Hong Kong. We show that there is no causal relation ship between land supply and housing prices. Our ...

This study analyzes the trends and determines comparative advantage competitiveness of India’s fish fishery products trade in world market exports to 10 major destinations over period 2000–2021. We use revealed symmetric (RSCA) index quantify exporting Vollrath measure country’s trade. collected relevant data at Harmonized System (HS) four-digit level from UN Commodity Trade (UN Comtrade) datab...