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This paper assesses the effectiveness of lending restriction measures, such as loan-to-value and debt-service-to-income ratios, in affecting developments in house prices and credit. We use data on 99 lending standard restrictions implemented in 28 EU countries over 1990–2018. The results suggest that lending restriction measures are generally effective in curbing house prices and credit. However, the impact is delayed and reaches its peak only after three years. In addition, the impact is asymmetric, with tightening measures having weaker association with target variables compared to loosening measures. The association is stronger in countries outside of euro area and for legally-binding measures and measures involving sanctions. The results have practical implications for macroprudential authorities.

Banks and Banking --- Macroeconomics --- Money and Monetary Policy --- Real Estate --- General Financial Markets: Government Policy and Regulation --- Financial Institutions and Services: Government Policy and Regulation --- Studies of Particular Policy Episodes --- Housing Supply and Markets --- Interest Rates: Determination, Term Structure, and Effects --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Financial Markets and the Macroeconomy --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Banking --- Property & real estate --- Monetary economics --- Housing prices --- Central bank policy rate --- Credit --- Macroprudential policy instruments --- Foreign banks --- Prices --- Financial services --- Money --- Financial sector policy and analysis --- Financial institutions --- Housing --- Interest rates --- Economic policy --- Banks and banking, Foreign --- Hong Kong Special Administrative Region, People's Republic of China

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This Selected Issues paper discusses income inequality in Hong Kong Special Administrative Region (SAR). Income inequality in Hong Kong SAR remains high, despite declining recently. Redistributive policies implemented by the authorities have helped to lower income inequality. However, inequality is likely to rise in the medium-term due to aging and thus more needs to be done. A package of policies could lower the Gini index by 3–4 points by 2050 including: more progressive salaries tax; higher reliance on recurrent property taxes; and increased public expenditure on social welfare, health, housing, education and childcare. According to recent evidence in the literature, these policies could also boost growth by 0.2–0.5 percentage points per year. Public spending on social welfare could continue to be raised to boost redistribution and increase access of poorer households. Spending on education and childcare should be raised to help lower the market income inequality directly. The commissioned study aiming to determine the demand and supply for childcare services and map out the long-term service development programs, as well as the initiatives mentioned in the 2018 Policy Address, should help in this regard.

Age distribution (Demography) --- Revenue --- Economic aspects --- Hong Kong (China) --- Economic conditions. --- Government revenue --- Public revenue --- Finance, Public --- Taxation --- Distribution, Age (Demography) --- Age --- Age groups --- Vital statistics --- Population aging --- Finance: General --- Macroeconomics --- Public Finance --- Corporate Taxation --- Demography --- Aggregate Factor Income Distribution --- Business Taxes and Subsidies --- National Government Expenditures and Related Policies: General --- Personal Income, Wealth, and Their Distributions --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- Corporate & business tax --- Public finance & taxation --- Finance --- Population & demography --- Income inequality --- Corporate income tax --- Income distribution --- Expenditure --- Personal income --- National accounts --- Taxes --- Corporations --- Expenditures, Public --- Income --- Hong Kong Special Administrative Region, People's Republic of China

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This 2019 Article IV Consultation with People’s Republic of China—Hong Kong Special Administrative Region (SAR) discusses that the economy is projected to start recovering next year, but the pace is expected to be gradual and both near- and medium-term risks have increased significantly, including from trade and technology tensions, ongoing social unrest, and structural challenges of insufficient housing supply and high income inequality. Hong Kong SAR is well placed to address both cyclical and structural challenges with its significant buffers thanks to its long history of prudent macroeconomic policies. Given that the fiscal framework permits deficits during economic downturns, government spending should be increased significantly in the areas of social safety nets, education/retraining, and infrastructure to cope with the cyclical downturn and address structural challenges of insufficient housing and high-income inequality. This should be complemented with measures to ensure fiscal sustainability and greater equity.

Banks and Banking --- Foreign Exchange --- Infrastructure --- Real Estate --- Statistics --- Macroeconomics --- Housing Supply and Markets --- Economic Development: Urban, Rural, Regional, and Transportation Analysis --- Housing --- Data Collection and Data Estimation Methodology --- Computer Programs: Other --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial Markets and the Macroeconomy --- Property & real estate --- Econometrics & economic statistics --- Banking --- Currency --- Foreign exchange --- Finance --- Housing prices --- External sector statistics --- Monetary statistics --- Prices --- National accounts --- Economic and financial statistics --- Macroprudential policy instruments --- Financial sector policy and analysis --- Saving and investment --- Banks and banking --- Economic statistics --- Economic policy --- Hong Kong Special Administrative Region, People's Republic of China

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This illustrated introduction to the history of China offers a fresh understanding of China's progress from the Neolithic age to the present. Told in six chapters arranged chronologically, through art, artifacts, people, and places, and richly illustrated with expertly selected objects and artworks, it firmly connects today's China with its internationally engaged past. From the earliest archaeological relics and rituals, through the development of writing and state, to the advent of empire, the author charts China's transformation from ancient civilization into the world's most populous nation and influential economy, offering historical insights and cultural treasures along the way. This accessible book presents an eclectic mix of materials including Chinese theater, the decorative arts, costume, jewelry, and furniture-making, running through to the most recent diffusion of Chinese culture

China --- History --- Material culture --- S02/0200 --- S17/0400 --- China: General works--Civilization and culture, nation, nationalism --- China: Art and archaeology--Chinese art: general and history --- Cina --- Kinë --- Cathay --- Chinese National Government --- Chung-kuo kuo min cheng fu --- Republic of China (1912-1949) --- Kuo min cheng fu (China : 1912-1949) --- Chung-hua min kuo (1912-1949) --- Kina (China) --- National Government (1912-1949) --- China (Republic : 1912-1949) --- People's Republic of China --- Chinese People's Republic --- Chung-hua jen min kung ho kuo --- Central People's Government of Communist China --- Chung yang jen min cheng fu --- Chung-hua chung yang jen min kung ho kuo --- Central Government of the People's Republic of China --- Zhonghua Renmin Gongheguo --- Zhong hua ren min gong he guo --- Kitaĭskai︠a︡ Narodnai︠a︡ Respublika --- Činská lidová republika --- RRT --- Republik Rakjat Tiongkok --- KNR --- Kytaĭsʹka Narodna Respublika --- Jumhūriyat al-Ṣīn al-Shaʻbīyah --- RRC --- Kitaĭ --- Kínai Népköztársaság --- Chūka Jinmin Kyōwakoku --- Erets Sin --- Sin --- Sāthāranarat Prachāchon Čhīn --- P.R. China --- PR China --- Chung-kuo --- Zhongguo --- Zhonghuaminguo (1912-1949) --- Zhong guo --- Chine --- République Populaire de Chine --- República Popular China --- Catay --- VR China --- VRChina --- 中國 --- 中国 --- 中华人民共和国 --- Jhongguó --- Bu̇gu̇de Nayiramdaxu Dundadu Arad Ulus --- Bu̇gu̇de Nayiramdaqu Dumdadu Arad Ulus --- Bu̇gd Naĭramdakh Dundad Ard Uls --- Khi︠a︡tad --- Kitad --- Dumdadu Ulus --- Dumdad Uls --- Думдад Улс --- Kitajska --- Antiquities. --- Antiquities --- History. --- Culture --- Folklore --- Technology --- China (Republic : 1949- ) --- History of Asia --- PRC --- P.R.C. --- BNKhAU --- БНХАУ

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n 2018, the People’s Republic of China (PRC) was, by most measures, more powerful than at any other time in its history and had become one of the most powerful countries in the world. Its economy faced serious challenges, including from the ongoing ‘trade war’ with the US, but still ranked as the world’s second largest. Its Belt and Road Initiative, meanwhile, continued to carve paths of influence and economic integration across several continents. A deft combination of policy, investment, and entrepreneurship has also turned the PRC into a global ‘techno-power’. It aims, with a good chance of success, at becoming a global science and technology leader by 2049 – one hundred years from the founding of the PRC. In surveying the various ways in which the Party-state wields its hard, soft, and sharp power, the China Story Yearbook: Power offers readers a sense of the diversity of power at work both in China and abroad. Citizens of the PRC have long negotiated the state’s influence; increasingly diaspora communities and other actors are now being subject to its might. As with previous editions in the series, we place important developments in historical context, and adopt a cross-disciplinary approach: it is our view that economy and politics cannot be divorced from culture, history, and society. The Yearbook provides accessible analysis of the main events and trends of the year and is an essential tool for understanding China’s growing power and influence around the world.

China --- Economic conditions --- Social conditions --- Politics and government --- Foreign relations --- Cina --- Kinë --- Cathay --- Chinese National Government --- Chung-kuo kuo min cheng fu --- Republic of China (1912-1949) --- Kuo min cheng fu (China : 1912-1949) --- Chung-hua min kuo (1912-1949) --- Kina (China) --- National Government (1912-1949) --- China (Republic : 1912-1949) --- People's Republic of China --- Chinese People's Republic --- Chung-hua jen min kung ho kuo --- Central People's Government of Communist China --- Chung yang jen min cheng fu --- Chung-hua chung yang jen min kung ho kuo --- Central Government of the People's Republic of China --- Zhonghua Renmin Gongheguo --- Zhong hua ren min gong he guo --- Kitaĭskai︠a︡ Narodnai︠a︡ Respublika --- Činská lidová republika --- RRT --- Republik Rakjat Tiongkok --- KNR --- Kytaĭsʹka Narodna Respublika --- Jumhūriyat al-Ṣīn al-Shaʻbīyah --- RRC --- Kitaĭ --- Kínai Népköztársaság --- Chūka Jinmin Kyōwakoku --- Erets Sin --- Sin --- Sāthāranarat Prachāchon Čhīn --- P.R. China --- PR China --- Chung-kuo --- Zhongguo --- Zhonghuaminguo (1912-1949) --- Zhong guo --- Chine --- République Populaire de Chine --- República Popular China --- Catay --- VR China --- VRChina --- 中國 --- 中国 --- 中华人民共和国 --- Jhongguó --- Bu̇gu̇de Nayiramdaxu Dundadu Arad Ulus --- Bu̇gu̇de Nayiramdaqu Dumdadu Arad Ulus --- Bu̇gd Naĭramdakh Dundad Ard Uls --- Khi︠a︡tad --- Kitad --- Dumdadu Ulus --- Dumdad Uls --- Думдад Улс --- Kitajska --- China (Republic : 1949- ) --- PRC --- P.R.C. --- BNKhAU --- БНХАУ --- Society & culture: general --- Politics & government --- politics --- economy