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by Kwong Tung Choi. / Bibliography : leaves 127-132 / Thesis (M.Phil.)--Chinese University of Hong Kong, 1982

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

Ch. 1. Factor-augmented VAR analysis of the monetary policy in China -- Ch. 2. The time-varying volatillity of Chinese macroeconomic fluctuations. / Leung, Pak Ho. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2010. / Includes bibliographical references. / Abstracts in English and Chinese. / COVER PAGE --- p.1 / ACKNOWLEDGEMENT --- p.2 / TABLE OF CONTENTS --- p.4 / LIST OF FIGURES AND TABLES --- p.6 / ABSTRACT OF CHAPTER I --- p.9 / Chapter 1. --- INTRODUCTION --- p.11 / Chapter 2. --- FEATURES OF POST-CRISIS CHINESE MONETARY POLICY --- p.13 / Chapter 2.1. --- LIBERALIZATION OF CHINA'S MONETARY POLICY IN RECENT YEARS --- p.14 / Chapter 2.2. --- MONETARY POLICY INSTRUMENTS AND TRANSMISSION MECHANISMS --- p.14 / Chapter 2.3. --- EXCHANGE RATE REFORM AND MONETARY POLICY --- p.17 / Chapter 2.4. --- EFFECTS OF MONETARY POLICY ON INDUSTRIAL PRODUCTION AND INFLATION --- p.18 / Chapter 3. --- METHODOLOGY --- p.20 / Chapter 4. --- DATA DESCRIPTION --- p.22 / Chapter 5. --- EMPIRICAL RESULTS --- p.23 / Chapter 5.1 . --- ESTIMATION OF FAVAR WITH REPO RATE AS INSTRUMENT --- p.24 / Chapter 5.2. --- ESTIMATION OF FAVAR WITH BENCHMARK RATE AS INSTRUMENT --- p.25 / Chapter 5.3. --- ESTIMATION OF FAVAR WITH MONETARY FACTOR AS INSTRUMENT --- p.26 / Chapter 5.4. --- ESTIMATION OF FAVAR WITH TOTAL LOAN AS INSTRUMENT --- p.27 / Chapter 5.5. --- ESTIMATION OF FAVAR WITH M2 AS INSTRUMENT --- p.28 / Chapter 5.6. --- POLICY DISCUSSION --- p.29 / Chapter 6. --- CONCLUSIO N --- p.31 / Chapter 7. --- REFERENCE S --- p.32 / Chapter 8. --- APPENDIX --- p.36 / ABSTRACT OF CHAPTER II --- p.60 / Chapter 1. --- INTRODUCTION --- p.62 / Chapter 2. --- OVERVIEW OF CHINESE ECONOMIC PERFORMANCE --- p.64 / Chapter 2.1. --- VOLATILITY OF THE CHINESE MACROECONOMY --- p.64 / Chapter 2.2. --- TESTS OF PARAMETER STABILITY --- p.66 / Chapter 2.2. --- HYPOTHESIS OF ECONOMIC MODERATION --- p.67 / Chapter 3. --- FREQUENCY DOMAIN ANALYSIS --- p.69 / Chapter 3.1 --- ESTIMATION FRAMEWORK --- p.70 / Chapter 3.2. --- ESTIMATION RESULTS --- p.72 / Chapter 4. --- VECTOR AUTOREGRESSION ANALYSIS --- p.75 / Chapter 4.1 --- ESTIMATION RESULTS --- p.70 / Chapter 5. --- CONCLUSION --- p.78 / Chapter 6. --- REFERENCES --- p.80 / Chapter 7. --- APPENDIX --- p.84

Zhu, Tingting. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2009. / Includes bibliographical references (leaves 21-23). / Abstract also in Chinese. / Chapter Chapter 1 --- Introduction --- p.1 / Chapter Chapter 2 --- Literature Review and Background --- p.2 / Chapter 2.1 --- The literature on price stickiness --- p.2 / Chapter 2.2 --- The literature on monetary policy --- p.3 / Chapter Chapter 3 --- Model and Data --- p.4 / Chapter 3.1 --- The model --- p.4 / Chapter 3.2 --- Model estimation --- p.6 / Chapter 3.3 --- Data --- p.7 / Chapter Chapter 4 --- Price Fluctuations in Disaggregated Data --- p.7 / Chapter 4.1 --- Sources of fluctuations and persistence in price series --- p.8 / Chapter 4.1.1 --- China inflation volatility --- p.8 / Chapter 4.1.2 --- China inflation persistence --- p.10 / Chapter 4.1.3 --- India inflation volatility --- p.10 / Chapter 4.1.4 --- India inflation persistence --- p.11 / Chapter 4.2 --- Effects of macroeconomic and sector-specific shocks on price --- p.12 / Chapter 4.2.1 --- China sectoral price response to various shocks --- p.12 / Chapter 4.2.2 --- India sectoral price response to various shocks --- p.13 / Chapter 4.3 --- Urban and rural price responses to various shocks --- p.13 / Chapter Chapter 5 --- Effects of Monetary Policy Shocks --- p.15 / Chapter 5.1 --- Effects of monetary shocks in China --- p.15 / Chapter 5.2 --- Effects of monetary shocks in India --- p.17 / Chapter Chapter 6 --- Conclusion --- p.18 / Bibliography --- p.21 / Table 1: China volatility and persistence of monthly inflation series --- p.24 / Table 2: China cross-sectional correlations of various statistics --- p.25 / Table 3: India volatility and persistence of monthly inflation series --- p.26 / Table 4: India cross-sectional correlations of various statistics --- p.27 / Table 5: Response of price series to a monetary policy shock in China --- p.28 / Table 6: Response of price series to a monetary policy shock in India --- p.29 / Figure 1: China sectoral price responses to shocks (Base Rate as the monetary instrument)…… --- p.30 / Figure 2: China sectoral price responses to shocks (M2 as the monetary instrument) --- p.31 / Figure 3: India sectoral price responses to shocks (Bank Rate as the monetary instrument) --- p.32 / Figure 4: India sectoral price responses to shocks (M3 as the monetary instrument) --- p.33 / Figure 5: China urban and rural CPI responses to various shocks --- p.34 / Figure 6: India urban and rural CPI responses to various shocks --- p.35 / Figure 7: China impulse responses to an identified monetary shock (Base Rate) --- p.36 / Figure 8: China impulse responses to an identified monetary shock (M2) --- p.37 / Figure 9: China sectoral price responses to monetary shocks with long-run restriction (Base Rate) --- p.38 / Figure 10: China sectoral price responses to monetary shocks with long-run restriction (M2) --- p.39 / Figure 11: India impulse responses to an identified monetary shock (Bank Rate) --- p.40 / Figure 12: India impulse responses to an identified monetary shock (M3) --- p.41 / Figure 13: India sectoral price responses to monetary shocks with long-run restriction (Bank Rate) --- p.42 / Figure 14: India sectoral price responses to monetary shocks with long-run restriction (M3) --- p.43 / Appendix --- p.44

published_or_final_version / Public Administration / Master / Master of Social Sciences

Thesis (M.C.M.)--Lincoln University, 2009. / Also available via the World Wide Web.

The diploma thesis examines the hypothesis that monetary policy can be an instrument of international policy, or a component of economic power. The case study focuses on the monetary policy of the PRC in terms of its potential international projection.

by Janet Yin Yao Lai, David Tak Kong Leung. / Bibliography: leaf 78 / Thesis (M.B.A.)--Chinese University of Hong Kong, 1985

by Yan Chi-Wai. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1987. / Bibliography: leaf 68.