CHINESE INVESTMENTS - HOSTAGES FOR HONG-KONG

被引：0
|
作者：
BACHER, B
LORZ, O
SCHUKNECHT, L
机构：
[1] UNIV KIEL,INST WELTWIRTSCHAFT,W-2300 KIEL 1,GERMANY
[2] UNIV CONSTANCE,W-7750 CONSTANCE,GERMANY
[3] INT MONETARY FUND,DIV INDIAN OCEAN,WASHINGTON,DC 20431
来源：
JOURNAL OF INSTITUTIONAL AND THEORETICAL ECONOMICS-ZEITSCHRIFT FUR DIE GESAMTE STAATSWISSENSCHAFT | 1992年 / 148卷 / 04期
关键词：
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
China has invested heavily in the Hong Kong economy to build trust in its intention to maintain the present course of economic policy. The investments have the character of hostages because their payoff depends upon a functioning Hong Kong economy. This increases the stake for the Chinese to keep their promise. The paper provides empirical support for the claim that the engagement of Chinese investors in Hong Kong has had a significant effect on economic confidence and the Hong Kong stock market. (JEL: H 77, F 21, P 17)
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页码：645 / 654
页数：10
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