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book (2)


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2007 (2)

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The economic integration of Greater China : real and financial linkages and the prospects for currency union
Authors: --- ---
ISBN: 1282709488 9786612709487 9888052896 9789888052899 9789622098220 9622098223 Year: 2007 Publisher: Hong Kong : London : Hong Kong University Press ; Eurospan [distributor],

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Abstract

The tremendous success of China's program of economic reform and the rapid integration of China into the global economy have prompted this study on the economic and financial integration between mainland China, Hong Kong, and Taiwan -- a grouping sometimes referred to as Greater China.


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The Overvaluation of Renminbi Undervaluation
Authors: --- --- ---
Year: 2007 Publisher: Cambridge, Mass. National Bureau of Economic Research

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Abstract

We evaluate whether the Renminbi (RMB) is misaligned, relying upon conventional statistical methods of inference. A framework built around the relationship between relative price and relative output levels is used. We find that, once sampling uncertainty and serial correlation are accounted for, there is little statistical evidence that the RMB is undervalued. The result is robust to various choices of country samples and sample periods, as well as to the inclusion of control variables.

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