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Keywords:Hong Kong 

Conference Paper
Exchange rates and monetary policy in Singapore and Hong Kong

Proceedings

Working Paper
The X-efficiency of commercial banks in Hong Kong

This paper uses the stochastic econometric cost frontier approach to investigate the cost efficiency of commercial banks in Hong Kong. On average, the X-efficiency of Hong Kong banks is found to be about 16 to 30 percent of observed total costs, which is comparable to the findings in the U.S. banking industry. X-efficiency is found to decline over time, indicating that banks in Hong Kong are now operating closer to the cost frontier than before. This is consistent with technological innovation that might have occurred in the Hong Kong banking industry. Furthermore, the average large bank in ...
Working Paper Series , Paper 2002-14

Working Paper
Borrowing constraints and asset market dynamics: evidence from the Pacific Basin

This paper estimates a linearized, stochastic version of Kiyotaki and Moore's (1997) credit cycle model, using land price data from Hong Kong, Japan, and Korea. It is shown that the welfare costs of borrowing constraints are positively related to the persistence of (de-trended) land price fluctuations. When the residual demand curve for land is inelastic and the steady state share of land held by the constrained sector is less than 30 percent, welfare costs are less than 1 percent of GDP in all countries. However, the costs of borrowing constraints rise quickly as the constrained sector ...
Pacific Basin Working Paper Series , Paper 98-04

Journal Article
Growth and government policy: lessons from Hong Kong and Singapore

FRBSF Economic Letter

Journal Article
Monetary lessons of Hong Kong

FRBSF Economic Letter

Journal Article
Monetary control without a central bank: the case of Hong Kong

Economic Review , Issue Spr , Pages 17-37

Journal Article
Why attack a currency board?

FRBSF Economic Letter

Journal Article
Cycle-resistant credit systems: learning from Hong Kong’s experience

Hong Kong?s home mortgage market has remained among the world?s most stable. Supervisory authorities point to the 70 percent loan-to-value policy.
Economic Letter , Volume 5

Journal Article
Banking system developments in the four Asian tigers

FRBSF Economic Letter

Journal Article
Do capital controls affect the response of investment to saving? evidence from the Pacific Basin

This paper examines the effect of capital controls on the response of investment to savings in Pacific Basin countries. A robust finding is that the size of the savings coefficient tends to be smaller (larger) in countries with relatively higher (lower) capital controls. Additionally, relaxation in capital controls for the most part had no discernible impact on the savings- investment relationship in individual country time-series regressions. At least a partial resolution to these puzzles is found in the government policy response: Countries with a relatively high saving-investment ...
Economic Review

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Kasa, Kenneth 4 items

Moreno, Ramon 3 items

Kwan, Simon H. 2 items

Guan, Ying 1 items

Gunther, Jeffery W. 1 items

Huh, Chan Guk 1 items

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