Hong Kong's Growth Synchronization with China and the U.S: A Trend and Cycle Analysis
This paper investigates the synchronization of Hong Kong SAR's economic growth with mainland China and the United States. This paper identifies trends of economic growth based on the permanent income hypothesis. Specifically, the paper confirms whether real consumption in Hong Kong SAR and main...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C
International Monetary Fund
2015
|
| Series: | IMF Working Papers
Working Paper No. 15/82 |
| Online Access: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Summary: | This paper investigates the synchronization of Hong Kong SAR's economic growth with mainland China and the United States. This paper identifies trends of economic growth based on the permanent income hypothesis. Specifically, the paper confirms whether real consumption in Hong Kong SAR and mainland China satisfy the permanent income hypothesis, at least in a weak form. It then identifies the permanent and transitory components of income of each economy using a simple state-space model. It uses structural vector autoregression models to analyze how permanent and transitory shocks originating from mainland China and the United States affect the Hong Kong economy, and how such influences evolve over time. The paper's main findings suggest that transitory shocks from the United States remain a major driving force behind Hong Kong SAR's business cycle fluctuations. On the other hand, permanent shocks from mainland China have a larger impact on Hong Kong SAR's trend growth |
| Physical Description: | 1 Online-Ressource (27 p) |
| ISBN: | 1484336100 9781484336106 |
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| 245 | 1 | 0 | |a Hong Kong's Growth Synchronization with China and the U.S |b A Trend and Cycle Analysis |c He, Dong |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:36Z |
| indexdate | 2024-07-10T09:35:47Z |
| institution | BVB |
| isbn | 1484336100 9781484336106 |
| language | English |
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| oclc_num | 1337115440 |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | He, Dong Verfasser aut Hong Kong's Growth Synchronization with China and the U.S A Trend and Cycle Analysis He, Dong Washington, D.C International Monetary Fund 2015 1 Online-Ressource (27 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 15/82 This paper investigates the synchronization of Hong Kong SAR's economic growth with mainland China and the United States. This paper identifies trends of economic growth based on the permanent income hypothesis. Specifically, the paper confirms whether real consumption in Hong Kong SAR and mainland China satisfy the permanent income hypothesis, at least in a weak form. It then identifies the permanent and transitory components of income of each economy using a simple state-space model. It uses structural vector autoregression models to analyze how permanent and transitory shocks originating from mainland China and the United States affect the Hong Kong economy, and how such influences evolve over time. The paper's main findings suggest that transitory shocks from the United States remain a major driving force behind Hong Kong SAR's business cycle fluctuations. On the other hand, permanent shocks from mainland China have a larger impact on Hong Kong SAR's trend growth Online-Ausg Liao, Wei Sonstige oth Wu, Tommy Sonstige oth http://elibrary.imf.org/view/IMF001/22505-9781484336106/22505-9781484336106/22505-9781484336106.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | He, Dong Hong Kong's Growth Synchronization with China and the U.S A Trend and Cycle Analysis |
| title | Hong Kong's Growth Synchronization with China and the U.S A Trend and Cycle Analysis |
| title_auth | Hong Kong's Growth Synchronization with China and the U.S A Trend and Cycle Analysis |
| title_exact_search | Hong Kong's Growth Synchronization with China and the U.S A Trend and Cycle Analysis |
| title_exact_search_txtP | Hong Kong's Growth Synchronization with China and the U.S A Trend and Cycle Analysis |
| title_full | Hong Kong's Growth Synchronization with China and the U.S A Trend and Cycle Analysis He, Dong |
| title_fullStr | Hong Kong's Growth Synchronization with China and the U.S A Trend and Cycle Analysis He, Dong |
| title_full_unstemmed | Hong Kong's Growth Synchronization with China and the U.S A Trend and Cycle Analysis He, Dong |
| title_short | Hong Kong's Growth Synchronization with China and the U.S |
| title_sort | hong kong s growth synchronization with china and the u s a trend and cycle analysis |
| title_sub | A Trend and Cycle Analysis |
| url | http://elibrary.imf.org/view/IMF001/22505-9781484336106/22505-9781484336106/22505-9781484336106.xml |
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