published_or_final_version / Business Administration / Master / Master of Business Administration

<p>This paper tested the purchasing power parity hypothesis for Botswana and South Africa using cointegration analysis. The data used are the spot exchange rate between the two countries (rand and pula) and their consumer price indices.</p>

Thesis (M.Com. (Taxation))--University of the Witwatersrand, Faculty of Commerce, Law and Management, School of Accountancy , 2015. / Could not copy abstract

by Kam-kun Chow. / Thesis (M.Phil.)--Chinese University of Hong Kong, 1983 / Bibliography: leaves 138-145

by Cheung Sin-ching, Suzanne, Wu Bin, Willliam. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1994. / Includes bibliographical references (leaves 96-99). / ACKNOWLEDGMENT --- p.ii / ABSTRACT --- p.iii / TABLE OP CONTENTS --- p.v / LIST OF TABLES --- p.viii / LIST OP EXHIBITS --- p.ix / CHAPTER / Chapter I. --- INTRODUCTION --- p.1 / Background Information --- p.1 / Fixed Rate System --- p.1 / Pegged Rate System --- p.1 / Re-arrangement of RMB Exchange Rate --- p.2 / Repeated Realignments of the Official Rate / Multi-Rate System --- p.3 / Managed Floating Rate System --- p.4 / Purposes of Study --- p.4 / Statements of Problems --- p.4 / Scope of the Problem --- p.5 / Plan of the Report --- p.6 / Chapter II. --- LITERATURE REVIEM --- p.7 / Chapter III. --- RESEARCH METHODOLOGY --- p.11 / Secondary Source Data Collection --- p.11 / Primary Source Data Collection --- p.12 / Strengths and Weaknesses of the Methodology --- p.12 / Chapter IV. --- THE ARRANGEMENT OF THE RMB EXCHANGE RATE --- p.13 / The categorization of Exchange Rate System --- p.13 / The Selection of RMB Exchange Rate system --- p.15 / Pre-Reform Era . . ´ب --- p.15 / Post-Reform Era --- p.17 / The Alteration of Official Rate --- p.17 / The Multi-Rate System --- p.19 / Internal Settlement Rate --- p.19 / Swap Rate --- p.22 / Pros and Cons of Multi-Rate System --- p.24 / Termination of Multi-Rate System --- p.26 / The Determination of RMB Exchange Rate --- p.27 / Chapter V. --- RMB DEVALUATION --- p.30 / Reasons for Devaluation --- p.30 / General Background t The Overvaluation of RMB --- p.30 / Export Promotion --- p.31 / Inflation and Loss of RMB Purchasing Power --- p.32 / Import Surge and Foreign Trade Deficit --- p.33 / Speculative and Psychological Factors --- p.34 / Unification of Dual Rate System --- p.35 / Impacts of RMB Devaluation --- p.35 / External Economy --- p.35 / Merchandise Trade Account --- p.36 / Effects on Export --- p.36 / Effects on Import --- p.39 / Effects on Foreign Trade Balance --- p.39 / Other Considerations --- p.40 / Time Lags --- p.40 / The Fragmentation in China's Foreign Trade Industry --- p.41 / Non-Trade current Account --- p.42 / Tourism --- p.42 / Othet Items in Non-Trade Account --- p.43 / Capital Account --- p.43 / Other Countries' Response --- p.45 / Internal Economy --- p.46 / Imported Inflation --- p.46 / Import Substitution Industry --- p.47 / People's Faith in RMB --- p.47 / Practical Implications of RMB Devaluation: Strategies for Hedging against RMB Risk --- p.48 / Agreement with Chinese Side --- p.49 / Forex-Guaranteed Loan --- p.49 / Diversification of Business --- p.50 / Forex Future Market --- p.50 / Chapter VI. --- PROSPECT OF THE RMB EXCHANGE RATE --- p.52 / Expectation of RMB Exchange Rate: A Move in the Near Future --- p.52 / Forex Demand vs. Forex Supply --- p.53 / Inflation --- p.53 / Free Convertibility of RMB --- p.54 / Definition --- p.54 / Internal Convertibility --- p.55 / External Convertibility --- p.55 / Pros and Cons of RMB Convertibility --- p.56 / Prerequisites to RMB Free Convertibility --- p.57 / Rational Exchange Rate --- p.57 / Sufficient International Settlement Means --- p.57 / Sound Macroeconomic Policies --- p.58 / Efficient Microeconomic Environment --- p.58 / procedures for RMB Free Convertibility --- p.60 / Eliminating the Dual Rate System --- p.60 / Realizing the Limited Convertibility of RMB --- p.60 / Establishing Foreign Exchange Market --- p.62 / Eliminating the FECs --- p.63 / Allowing Free Transfer of Foreign Exchange in Capital Account --- p.63 / Chapter VII. --- CONCLUSIONS AND RECOMMENDATIONS --- p.65 / Conclusions --- p.65 / A Rational Managed-Floating Rate System is in Need --- p.65 / Devaluation is not a Panacea --- p.67 / The RMB Rate is Bearish in Near Future --- p.68 / Free Convertibility is a Long Way to Go --- p.68 / Other Things to Do --- p.69 / Recommendations --- p.69 / Controlling Inflation --- p.69 / Rebalancing Trade Deficit --- p.70 / Restructuring Foreign Trade Industry --- p.70 / Improving the Chinese Enterprises' Efficiency --- p.70 / TABLES --- p.72 / EXHIBITS --- p.83 / BIBLIOGRAPHY --- p.96

by Ho Sui-Man. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1987. / Bibliography: leaf 162.

by Kwong Man-him, Francis, Lee Shuk-yee, Katie. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1988. / Bibliography: leaves 98-100.

by Hok-hoi Fung. / Thesis (M.Phil.)--Chinese University of Hong Kong, 1995. / Includes bibliographical references (leaves 58-59). / LIST OF TABLES --- p.ii / LIST OF FIGURES --- p.iii / CHAPTER / Chapter 1. --- INTRODUCTION --- p.1 / Chapter 2. --- LITERATURE REVIEW --- p.3 / Chapter 3. --- METHODOLOGY --- p.6 / Formulation of the TVTP Model --- p.6 / Filtered and Smoothed Probabilities --- p.9 / Maximization of the Expected Log-likelihood --- p.13 / Chapter 4. --- EMPIRICAL RESULTS --- p.15 / The Simple 2-state Markov Switching Model --- p.15 / The TVTP Model --- p.17 / The 3-state Markov Switching Model --- p.26 / Chapter 5. --- OUT - OF- SAMPLE FORECASTING --- p.34 / Chapter 6. --- CONCLUSION --- p.40 / APPENDICES --- p.42 / BIBLIOGRAPHY --- p.58

Lai Wing Sze. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2000. / Includes bibliographical references (leaves 76-81). / Abstracts in English and Chinese. / ENGLISH ABSTRACT --- p.i / CHINESE ABSTRACT --- p.ii / ACKNOWLEDGEMENT --- p.iii / TABLE OF CONTENTS --- p.iv / LIST OF TABLES --- p.vi / LIST OF ILLUSTRATIONS --- p.vii / LIST OF APPENDICES --- p.viii / Chapter CHAPTER 1 --- INTRODUCTION --- p.1 / Chapter CHAPTER 2 --- LITERATURE REVIEW --- p.6 / Chapter 2.1 --- Theoretical Contributions to the Literature --- p.6 / Chapter 2.1.1 --- Negative Hypothesis --- p.6 / Chapter 2.1.2 --- Positive Hypothesis --- p.3 / Chapter 2.2 --- Empirical Contributions to the Literature --- p.9 / Chapter 2.2.1 --- Investigation of Various Types of Trade Flows --- p.10 / Chapter 2.2.1.1 --- Investigation of Multilateral Trade Flows --- p.11 / Chapter 2.2.1.2 --- Investigation of Bilateral Trade Flows --- p.12 / Chapter 2.2.1.3 --- Investigation of Sectoral Trade Flows --- p.13 / Chapter 2.2.2 --- Estimation of Exchange Rate Volatility --- p.14 / Chapter 2.2.3 --- Stationarity of Variables --- p.16 / Chapter 2.2.4 --- Methodology of Estimation --- p.17 / Chapter CHAPTER 3 --- ESTIMATION OF EXCHANGE RATE VOLATILITY --- p.19 / Chapter 3.1 --- Methodology of Estimation of ARCH Model --- p.20 / Chapter 3.2 --- Estimation Results of Real Effective Exchange Rate Volatility --- p.23 / Chapter CHAPTER 4 --- METHODOLOGY OF EMPIRICAL ANALYSIS --- p.27 / Chapter 4.1 --- Unit Root Test --- p.27 / Chapter 4.1.1 --- Augmented Dickey-Fuller (ADF) Test --- p.28 / Chapter 4.1.2 --- Phillips-Perron (P-P) Test --- p.29 / Chapter 4.2 --- Zivot and Andrews (ZA) Test --- p.30 / Chapter 4.3 --- Cointegration and Error-Correction Mechanism --- p.32 / Chapter 4.3.1 --- Concept of Cointegration --- p.33 / Chapter 4.3.2 --- Cointegration Test and Error-Correction Model --- p.33 / Chapter CHAPTER 5 --- MODEL SPECIFICATION AND DATA ISSUES --- p.38 / Chapter 5.1 --- Model Specification --- p.38 / Chapter 5.2 --- Hypothesis of the Signs of Variables --- p.40 / Chapter 5.3 --- Data Issues --- p.41 / Chapter CHAPTER 6 --- EMPIRICAL EVIDENCE AND ANALYSIS --- p.46 / Chapter 6.1 --- Empirical Evidence of Investigation of Multilateral Trade Flows --- p.46 / Chapter 6.2 --- Empirical Evidence of Investigation of Bilateral Trade Flows --- p.56 / Chapter CHAPTER 7 --- CONCLUSION --- p.65 / APPENDICES --- p.68 / BIBLIOGRAPHY --- p.76

Leung Sze Wan. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2000. / Includes bibliographical references (leaves 62-64). / Abstracts in English and Chinese. / Abstract --- p.ii / Acknowledgments --- p.iv / Table of Contents --- p.v / Chapter Chapter 1 --- Introduction --- p.1 / Chapter Chapter 2 --- A review of the related literature --- p.7 / Chapter Chapter 3 --- The data --- p.12 / Chapter Chapter 4 --- Research methodology --- p.31 / Chapter Chapter 5 --- Determinants of peg duration --- p.34 / Chapter Chapter 6 --- Main results --- p.41 / Chapter Chapter 7 --- Predicted probabilities of devaluation --- p.51 / Chapter Chapter 8 --- Results from an alternative exchange rate peg definition --- p.54 / Chapter Chapter 9 --- Conclusion --- p.59 / Bibliography --- p.62 / Appendix --- p.65