From One Country, Two Systems to Monetary Integration?

Tsang, Shu-ki

doi:10.2139/ssrn.1009395

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The Operational Difficulties Of Inflation As a Target In China1

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2007

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Cited by 2 publications

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“…It simply means that monetary policy (including inflation targeting) is insufficient as a tool. From the perspective of the literature in monetary union (Tsang, 2002a), what is need is either deep capital and credit markets (like in the U.S.) or effective fiscal transfer mechanisms (like in Australia) that smooth out regional divergence, both of which are lacking in China. Nevertheless, with further economic development and integration among Chinese regions in the future, a long-run trend of closer convergence may unfold.…”

Section: The Operational Difficulties Of Inflation As a Target In Chinamentioning

confidence: 99%

Inflation Targeting in China?

Tsang¹

2002

SSRN Journal

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Section: The Operational Difficulties Of Inflation As a Target In Chinamentioning

confidence: 99%

Inflation Targeting in China?

Tsang¹

2002

SSRN Journal

Self Cite

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Exploring the Case for Monetary Integration between the Chinese Mainland and Hong Kong

Cavoli

Rajan

2007

China and World Economy

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This paper presents an empirical investigation on an important policy issue, namely, whether there is any evidence supporting monetary integration between the Chinese mainland and Hong Kong. We follow two lines of inquiry. First, we present a series of simple tests to find the extent to which trade and/or financial linkages exist between the two regions. Second, we use simple inflation and output differentials and structural VAR techniques to test for the degree of business cycle synchronization between the two regions. The results indicate that there is evidence supporting the existence of trade linkages and that there is also support for the possible synchronization of business cycles. We discuss the implications of this for monetary integration between Hong Kong and the mainland. Copyright 2007 Institute of World Economics and Politics, Chinese Academy of Social Sciences.

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From One Country, Two Systems to Monetary Integration?

Cited by 2 publications

References 16 publications

Inflation Targeting in China?

Inflation Targeting in China?

Exploring the Case for Monetary Integration between the Chinese Mainland and Hong Kong

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