File Download

There are no files associated with this item.

  Links for fulltext
     (May Require Subscription)
Supplementary

Article: The Asian financial crisis, economic recession, and structural change in Hong Kong

TitleThe Asian financial crisis, economic recession, and structural change in Hong Kong
Authors
Issue Date2002
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/asieco
Citation
Journal Of Asian Economics, 2002, v. 13 n. 5, p. 623-634 How to Cite?
AbstractThis article studies the interplay of two factors that has an important bearing on the nature of deflationary pressure and its persistence in Hong Kong since 1997. These two main factors are: (1) a sharp and protracted downturn of the business cycle, and (2) structural change of the economy in response to the opening of China and its gradual integration with Hong Kong. We develop a theoretical framework for interpreting the post-1997 deflation that can also be applied to the understanding of the decade fo inflation that preceded the onset of the Asian Financial Crisis and the subsequent global economic slowdown. We cite evidence that demonstrates the deflation in Hong Kong can be explained, primarily, by cyclical factors. The persistence in deflation should not be interpreted as a result of structural transformation of the Hong Kong economy resulting from closer integration with Mainland China. The price convergence process resulting from the economic integration with the Mainland will continue for a considerable period of time. It will, however, exert only a minor dampening effect on the average price level in Hong Kong given its slow moving process. © 20002 Elsevier Science Inc. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/85523
ISSN
2015 SCImago Journal Rankings: 0.572
References

 

DC FieldValueLanguage
dc.contributor.authorWong, YCRen_HK
dc.date.accessioned2010-09-06T09:06:09Z-
dc.date.available2010-09-06T09:06:09Z-
dc.date.issued2002en_HK
dc.identifier.citationJournal Of Asian Economics, 2002, v. 13 n. 5, p. 623-634en_HK
dc.identifier.issn1049-0078en_HK
dc.identifier.urihttp://hdl.handle.net/10722/85523-
dc.description.abstractThis article studies the interplay of two factors that has an important bearing on the nature of deflationary pressure and its persistence in Hong Kong since 1997. These two main factors are: (1) a sharp and protracted downturn of the business cycle, and (2) structural change of the economy in response to the opening of China and its gradual integration with Hong Kong. We develop a theoretical framework for interpreting the post-1997 deflation that can also be applied to the understanding of the decade fo inflation that preceded the onset of the Asian Financial Crisis and the subsequent global economic slowdown. We cite evidence that demonstrates the deflation in Hong Kong can be explained, primarily, by cyclical factors. The persistence in deflation should not be interpreted as a result of structural transformation of the Hong Kong economy resulting from closer integration with Mainland China. The price convergence process resulting from the economic integration with the Mainland will continue for a considerable period of time. It will, however, exert only a minor dampening effect on the average price level in Hong Kong given its slow moving process. © 20002 Elsevier Science Inc. All rights reserved.en_HK
dc.languageengen_HK
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/asiecoen_HK
dc.relation.ispartofJournal of Asian Economicsen_HK
dc.rightsJournal of Asian Economics. Copyright © Elsevier BV.en_HK
dc.titleThe Asian financial crisis, economic recession, and structural change in Hong Kongen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1049-0078&volume=13&spage=623&epage=634&date=2002&atitle=The+Asian+Financial+Crisis,+Economic+Recession,+and+Structural+Change+in+Hong+Kong%27en_HK
dc.identifier.emailWong, YCR: rycwong@hku.hken_HK
dc.identifier.authorityWong, YCR=rp00068en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/S1049-0078(02)00174-4en_HK
dc.identifier.scopuseid_2-s2.0-0036756583en_HK
dc.identifier.hkuros83791en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0036756583&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume13en_HK
dc.identifier.issue5en_HK
dc.identifier.spage623en_HK
dc.identifier.epage634en_HK
dc.publisher.placeNetherlandsen_HK
dc.identifier.scopusauthoridWong, YCR=24395903200en_HK

Export via OAI-PMH Interface in XML Formats


OR


Export to Other Non-XML Formats