University of Macau / Faculty of Social Sciences and Humanities / Department of Government and Public Administration

published_or_final_version / Economics and Finance / Master / Master of Economics

Lam Man Kin, Wong Yim Pan. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1992. / Includes bibliographical references. / ACKNOWLEDGEMENTS --- p.ii / ABSTRACT --- p.iii / TABLE OF CONTENTS --- p.iv / LIST OF TABLES --- p.vi / LIST OF FIGURES --- p.vii / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- A BRIEF REVIEW OF THE MODELS FOR FOREIGN EXCHANGE DETERMINATION --- p.6 / Purchasing Power Parity --- p.6 / Flexible Price Monetary Model --- p.9 / Sticky Price Monetary Model -Exchange Rate Dynamics --- p.11 / Portfolio Balance Approach --- p.14 / Insights --- p.16 / Chapter III. --- THE LINKED EXCHANGE RATE SYSTEM --- p.18 / A Brief Historical Account --- p.18 / The Linked Exchange Rate System and Interest Rate --- p.19 / The Linked Exchange Rate System and Inflation Rate --- p.21 / The Pattern of Interest Rate Since Oct. 1983 --- p.22 / "The Pattern of Inflation Rate Since Oct., 1983" --- p.23 / "The Change of Real Exchange Rate Since Oct.,1983" --- p.23 / Chapter VI. --- METHODOLOGIES FOR THE EMPIRICAL STUDIES --- p.31 / The Data --- p.31 / Statistical Techniques --- p.32 / Models to be studied --- p.32 / Absolute PPP --- p.32 / Relative PPP --- p.33 / Augmented PPP Model --- p.34 / Hong Kong Inflation and US Inflation --- p.35 / Hong Kong Interest Rate and US Interest Rate --- p.36 / Interest Rate and Inflation Rate of Hong Kong --- p.36 / Chapter V. --- EMPIRICAL RESULTS AND DISCUSSIONS --- p.38 / PPP Model --- p.38 / Absolute PPP --- p.38 / Relationship between Exchange Rate and Price Levels --- p.43 / Relative PPP --- p.43 / Inflations of Hong Kong and the US --- p.45 / Percentage change of exchange rate and inflation --- p.46 / Augmented PPP Model: Incorporate Interest Rates in PPP Model --- p.47 / Absolute PPP --- p.47 / Interest Rates and Short Term Fluctuation of Exchange Rate --- p.48 / Relative PPP --- p.49 / Interest Rates and the Percentage Change of Exchange Rate --- p.51 / Hong Kong Inflation and US Inflation --- p.51 / The Divergence of Two Inflation Rates --- p.52 / Hong Kong Interest Rate and US Interest Rate --- p.53 / Hong Kong Inflation and Hong Kong Interest Rates --- p.55 / Chapter VI. --- CONCLUSION --- p.57 / Limitations --- p.59 / APPENDIX / I --- p.61 / II --- p.67 / BIBLIOGRAPHY --- p.78

本文主要研究實際匯率出口彈性對中國貧富懸殊的影響。我們使用了二十八個省份從1995年至2008年的數據。結果顯示實際匯率出口彈性愈高的省份其城鄉收入差距就會愈廣。另外，我們使用了各省的加工出口比例作為實際匯率出口彈性的工具變量。 / 本文主要的貢獻在於分別地考慮出口數量和出口的商品種類來研究開放度對貧富懸殊的關係。在分開了出口數量和出口商品的種類對貧富懸殊的影響後，我們發現數據中呈現的中國對外開放度和貧富懸殊的正向關係，是基於出口商品的種類改變，而非如以前的文獻所說，是基於出口量的增長。因此，要決定一個省份的城鄉收入差距，該省份生產甚麼比其生產數量更重要。 / This paper investigates the effect of export elasticity to real exchange rate and on urban-rural income disparity in China. We use annual data from 28 provinces from 1995 to 2008. The main finding is that provinces producing more elastic exported goods would have a higher urban-rural income inequality. We also construct the processing export ratio as an instrumental variable for the elasticity terms. / One main contribution of this paper is to consider separately the effect of export value and the composition of exports when we examine the relationship between openness and income inequality. After separating the effect of export value and the composition of exports, we find that the positive relationship between openness and income inequality mentioned in previous literature is caused by a change in export composition, rather than in export value. Hence, what the provinces produce matters much more than how much they produce when we determine urban-rural income inequality. / Detailed summary in vernacular field only. / Detailed summary in vernacular field only. / Chan, Ying Tung. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2012. / Includes bibliographical references (leaves 32-34). / Abstracts also in Chinese. / ABSTRACT --- p.II / 摘要 --- p.III / ACKNOWLEDGMENTS --- p.IV / Chapter 1 --- INTRODUCTION --- p.1 / Chapter 1.1 --- OPENNESS AND INEQUALITY --- p.1 / Chapter 1.2 --- COMPOSITION OF INCOME INEQUALITY IN CHINA --- p.2 / Chapter 2 --- LITERATURE REVIEWS --- p.4 / Chapter 2.1 --- LITERATURE ON THE CAUSE OF INCOME INEQUALITY IN CHINA --- p.4 / Chapter 2.2 --- LITERATURE ON THE EFFECT OF OPENNESS ON INCOME INEQUALITY IN CHINA --- p.6 / Chapter 2.3 --- LITERATURE ON THE COMPOSITION OF EXPORTS AND ECONOMIC GROWTH IN CHINA --- p.9 / Chapter 3 --- DATA --- p.11 / Chapter 4 --- REGRESSION MODEL --- p.12 / Chapter 4.1 --- REGRESSION RESULT (WITHOUT THE ELASTICITY TERM) --- p.15 / Chapter 4.2 --- ROLLING REGRESSION FOR ESTIMATING THE ELASTICITY TERMS --- p.17 / Chapter 4.3 --- REGRESSION RESULT OF REGRESSION (1) --- p.19 / Chapter 4.4 --- INSTRUMENTAL VARIABLE FOR THE ELASTICITY TERM --- p.20 / Chapter 4.5 --- REGRESSION RESULT AFTER USING TWO-STAGE LEAST SQUARE (2SLS) --- p.23 / Chapter 5 --- DISCUSSION --- p.24 / Chapter 6 --- CONCLUSION --- p.29 / REFERENCES --- p.32

by Ng Yiu Hong. / Thesis (M.Phil.)--Chinese University of Hong Kong, 1997. / Includes bibliographical references (leaves 77-80). / Chapter ONE --- INTRODUCTION --- p.1 / Chapter TWO --- HONG KONG'S IMPORT PERFORMANCE --- p.5 / Chapter THREE --- REVIEW OF THE LITERATURE --- p.9 / The Elasticity Approach / Market Structure and Product Characteristics / Long-Run Profit Maximization / Hysteresis Models / Multinational Corporations and Intra-Firm Trade / Non-Tariff Barriers / Other Explanations / Chapter FOUR --- THE ANALYTICAL FRAMEWORK --- p.19 / Chapter FIVE --- DATA AND ECONOMETRIC ANALYSIS --- p.22 / Data / Econometric Analysis / Chapter SIX --- EMPIRICAL RESULTS --- p.33 / Chapter SEVEN --- CONCLUSION --- p.40 / TABLES --- p.43 / APPENDIX --- p.64 / BIBLIOGRAPHY --- p.77

by Liu Shiang Ling. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1997. / Includes bibliographical references (leaves 48). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / LIST OF TABLES --- p.v / CHAPTER / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- CHINA'S RENMINBI SYSTEM --- p.3 / Overview and Historical Development --- p.3 / 1953-1972 --- p.3 / 1973-1978 --- p.4 / 1979-1993 --- p.4 / 1994-1996 --- p.6 / The Exchange Rate Determination --- p.7 / Demand & Supply --- p.7 / The Balance of Payments --- p.8 / Inflation --- p.10 / Interest Rate --- p.10 / The Condition of Economic Development --- p.11 / Expectation --- p.11 / The Fiscal Policy --- p.12 / Forecasting Exchange Rate --- p.12 / Fundamental Analysis --- p.14 / Chapter III. --- CHINA'S PROPERTY MARKET --- p.15 / The History of China's Property Market --- p.15 / Pre-1949 --- p.15 / 1949-1979 --- p.15 / 1979-1991 --- p.16 / 1992-1996 --- p.18 / China's Real Estate Market Overview --- p.20 / Shanghai's Property Market --- p.21 / Risk Analysis --- p.22 / Return --- p.22 / Risks --- p.23 / Chapter IV. --- THEORETICAL ANALYSIS --- p.25 / Currency Conversion and Exchange Rate Risks --- p.25 / Hypothesis --- p.26 / The Short Run --- p.26 / The Long Run --- p.27 / Chapter V. --- RESEARCH METHODOLOGY AND FINDINGS --- p.29 / Targets of Study --- p.29 / Questionnaire --- p.29 / Chapter VI. --- ANALYSIS AND CONCLUSIONS --- p.30 / Primary Source Data --- p.30 / Secondary Source Data --- p.32 / Analysis --- p.34 / The Short Run --- p.34 / The Long Run --- p.35 / Political Conditions --- p.35 / Economic Conditions --- p.36 / Social Conditions --- p.37 / Market Conditions --- p.37 / Land Investment --- p.38 / Conclusion --- p.39 / Chapter VII. --- RECOMMENDATIONS AND ADVICE TO DEVELOPERS --- p.40 / The Depreciation of Renminbi --- p.40 / The Appreciation of Renminbi --- p.41 / The Chinese Government Policy --- p.42 / Long-Term Consideration --- p.43 / APPENDIX --- p.45

Lam, Lai Fong. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2007. / Includes bibliographical references (p. 47-50). / Abstracts in English and Chinese. / ABSTRACT --- p.ii / ACKNOWLEDGEMENTS --- p.iv / LIST OF TABLES --- p.vi / LIST OF FIGURES --- p.vi / CHAPTER / Chapter I --- INTRODUCTION --- p.1 / Chapter II --- LITERATURE REVIEW --- p.6 / Chapter III --- THE EXCHANGE RATE REGIMES OF THE FOUR NIES --- p.10 / Review of the Exchange Rate Regimes of the Four NIEs / Frankel-Wei Regression / Chapter IV --- METHODOLOGY --- p.19 / Measurement of the Monetary Independence / Specification of Model / Chapter V --- EMPIRICAL RESULTS --- p.2? / Unit Root Test / The Endogeneity Test / Cointegration Test and Error Correction Model / Chapter VI --- CONCLUSIONS --- p.37 / APPENDICES --- p.41 / BIBLIOGRAPHY --- p.47 / TABLES --- p.51 / FIGURES --- p.59