820
Views
0
CrossRef citations to date
0
Altmetric
Articles

Lessons from the global financial crisis – the case of Mainland China and Hong Kong

ORCID Icon &
Pages 375-392 | Received 11 Jun 2017, Accepted 12 Mar 2018, Published online: 28 May 2018

References

  • Andreosso-O’Callaghan, B. , and J.-C. Gottwald . 2013. “How Red is China’s Red Capitalism? Continuity and Change in China’s Financial Services Sector during the Global Crisis.” Asia Pacific Business Review 19 (4): 444–460.10.1080/13602381.2013.823711
  • Asian Development Bank . 2012. How Can Asia Respond to Global Economic Crisis and Transformation? . Mandaluyong City: Asian Development Bank.
  • Bollerslev, T. 1986. “Generalized Autoregressive Conditional Heteroskedasticity.” Journal of Econometrics 31: 307–327.
  • Borthwick, O. 2012. “The Crisis and South Korea.” In The Transformation of Asia in a Global Changing Environment , edited by B. Andreosso-O’Callaghan and P. Herrmann , 93–110. New York, NY : Nova Science Publishers.
  • Burdekin, R. C. K. , J. R. Barth , F. M. Song , and Z. Zhou . 2012. “China after the Global Financial Crisis.” Economics Research International 12: 1–3. Hindawi Publishing Corporation.
  • Chakravarty, S. , A. Sarkar , and L. Wu . 1998. “Information Asymmetry, Market Segmentation and the Pricing of Cross-Listed Shares: Theory and Evidence from Chinese a and B Shares.” Journal of International Financial Markets, Institutions and Money 8: 325–356.10.1016/S1042-4431(98)00041-9
  • Cheung, Y. W. , C. Menzie , and F. Eiji . 2005. “Dimensions of Financial Integration in Greater China: Money Markets.” Banks, and Policy Effects, International Journal of Finance and Economics 10: 117–132.10.1002/(ISSN)1099-1158
  • Cheung, Y.-W. , S. Steinkamp , and F. Westermann . 2016. “China’s Capital Flight: Pre- and Post-Crisis Experiences.” Journal of International Money and Finance 66: 88–112.10.1016/j.jimonfin.2015.12.009
  • Chinn, M. D. 2013. “United States, China, and the Rebalancing Debate: Misalignment, Elasticities, and the Saving-Investment Balance.” In The Evolving Role of China in the Global Economy , edited by Y.-W. Cheung and J. De Haan , 17–51. Cambridge, MA : MIT Press. ( Chapter 11).
  • Das, K Ch . 2017. “The Making of One Belt, One Road and Dilemmas in South Asia.” China Report 53 (2): 125–142.10.1177/0009445517696624
  • Fabre, G. 2013. “The Lion’s Share – What’s behind China’s Economic Slowdown?” Fondation Maison des Sciences de l’Homme, Octobre, Working Papers Series, No. 53.
  • Fung, K. K. 2014. “Financial Crisis and the Developmental States: A Case Study of Hong Kong.” International Journal of Social Welfare 23: 321–332.10.1111/ijsw.2014.23.issue-3
  • Glick, R. , and M. Hutchison . 2013. “China’s Financial Linkages with Asia and the Global Financial Crisis.” Federal Reserve Bank of San Francisco. Working Paper Series 2013–12.
  • He, D. 2013. “Hong Kong’s Approach to Financial Stability.” International Journal of Central Banking March 2013 Issue.
  • He, D. , Z. Zhang , and W. Zhang . 2009. “How Large will be the Effect of China’s Fiscal Stimulus Package on Output and Employment?” Pacific Economic Review 14: 730–744.10.1111/per.2009.14.issue-5
  • Hong, K. , and H. C. Tang . 2012. “Crises in Asia: Recovery and Policy Responses.” Journal of Asian Economics 23: 654–668.10.1016/j.asieco.2012.07.002
  • Hong, M. G. , B. J. Yoon , and K. H. Chang . 2014. “The Volatility Dynamics of the Greater China Stock Markets.” Asia-Pacific Journal of Financial Studies 43: 721–738.10.1111/ajfs.2014.43.issue-5
  • Huang, H. 2010. “China’s Legal Responses to the Global Financial Crisis: From Domestic Reform to International Engagement.” Asian Law 12: 157–181.
  • Huo, R. , and A. D. Ahmed . 2017. “Return and Volatility Spillovers Effects: Evaluating the Impact of Shanghai-Hong Kong Stock Connect.” Economic Modelling 61: 260–272.10.1016/j.econmod.2016.09.021
  • Huyghebaert, N. , and L. Wang . 2010. “The Co-movement of Stock Markets in East Asia. Did the 1997–1998 Asian financial Crisis Really Strengthen Stock Market Integration?” China Economic Review 21 (1): 98–112.10.1016/j.chieco.2009.11.001
  • Kawai, M. 1999. “The East Asian Currency Crisis: Causes and Lessons.” Contemporary Economic Policy 16 (2): 157–172.
  • Kawai, M. 2009. “The Impact of the Global Financial Crisis on Asia and Asia’s Responses Crisis Developments and Long-Terms Global Responses: Insights from Asia and Europe.” AEEF Conference, Kiel, 7th July 2009. Asian Development Bank Institute. Accessed https://www.ifw-kiel.de/konfer/2009/masahiro-kawai
  • Li, L. , T. D. Willett , and N. Zhang . 2012. “The Effects of the Global Financial Crisis on China’s Financial Market and Macroeconomy.” Hindawi Publishing Corporation. Economics Research International 2012: 1–6.
  • Luckhurst, J. 2012. “Governance and Democratization since the 2008 Financial Crisis.” Politics and Policy 40: 958–977.10.1111/polp.2012.40.issue-5
  • Ma, G. and R. McCauley . 2010. “Do China’s Capital Controls Still Bind? Implications for Monetary Autonomy and Capital Liberalization.” BIS Working Paper no.233.
  • McCauley, R. 2011. “Renmimbi Internationalisation and China’s Financial Development.” Bank for International Settlements Quarterly Review (December) 41–56.
  • Mohammadi, H. , and Y. Tan . 2015. “Return and Volatility Spillovers across Equity Markets in Mainland China, Hong Kong and the United States.” Econometrics 3: 215–232.10.3390/econometrics3020215
  • Nie, W. 2016. “Xi Jinping’s Foreign Policy Dilemmna: One Belt, One Road or the South China Sea?” Contemporary Southeast Asia 38 (3): 422–444.
  • Peaple, A. 2008. “As the Global Economy Worsens, China Looks to Its Own.” Harvard Asia Quarterly 12 (1): 54–59. ( Cambridge, MA).
  • Ploberger, C. 2017. “One Belt, One Road – China’s New Grand Strategy.” Journal of Chinese Economic and Business Studies 15 (3): 289–305.10.1080/14765284.2017.1346922
  • Prasad, E. and L. Ye . 2007. “The Renmimbi’s Role in the Global Monetary System.” In Asia’s Role in the Post-Crisis Global Economy , edited by R. Glick and M. M. Spiegel , 383–387. San Francisco, CA : Federal Reserve Bank of San Francisco.
  • Qiao, Z. , T. C. Chiang , and W.-K. Wong . 2008. “Long-Run Equilibrium, Short-Term Adjustment, and Spillover Effects across Chinese Segmented Stock Markets and the Hong Kong Stock Market.” Journal of International Financial Markets Institutions & Money 18: 425–437.10.1016/j.intfin.2007.05.004
  • Raine, G. B. , and S. D. Adams . 2015. “Navigating the Shanghai-Hong Kong Stock Connect: Relevance, Risks, and Practical Considerations for Investment Advisers.” Invest Lawyer 22 (11): 21–29.
  • Singhania, M. , and J. Anchalia . 2013. “Volatility in Asian Stock Markets and Global Financial Crisis.” Journal of Advances in Management Research 10 (3): 333–351.10.1108/JAMR-01-2013-0010
  • Su, M. 2009. “China: Unscathed through the Glboal Financial Tsunami.” China & World Economy 17: 24–42.
  • Thuan, N. Q. 2017. “China’s Strategic Adjustments: Impact on the World, Region and Vietnam.” China Report 53 (3): 367–385.10.1177/0009445517711522
  • Wang, L. 2014. “Who Moves East Asian Stock Markets? The Role of the 2007–2009 Global Financial Crisis.” Journal of International Financial Markets, Institutions and Money 28: 182–203.10.1016/j.intfin.2013.11.003
  • Wang, D. , T. T. L. Chong , and W. H. Chan . 2014. “Price Limits and Stock Market Volatility in China.” Munich Personal RepEc Archive. MPRA Paper No. 54146, posted 7. March 2014 07:55 UTC. Accessed http://mpra.ub.uni-muenchen.de/54146/
  • Whalley, J. , and X. Zhao . 2013. “The Relative Importance of the Chinese Stimulus Package and Tax Stabilization during the 2008 Financial Crisis.” Applied Economics Letters 20: 682–686.10.1080/13504851.2012.730128
  • Worldbank.org . (2015). “The World Bank, World Bank Statistics.” Accessed http://data.worldbank.org/
  • Yeh, Y. H. , and T. S. Lee . 2000. “The Interaction and Volatility Asymmetry of Unexpected Returns in the Greater China Stock Markets.” Global Finance Journal 11: 129–149.10.1016/S1044-0283(00)00014-4
  • Yu, H. 2017. “Motivation behind China’s ‘One Belt, One Road’ Initiatives and Establishment of the Asian Infrastructure Investment Bank.” Journal of Contemporary China 26 (105): 353–368.10.1080/10670564.2016.1245894
  • Zhang, Q. , and S. Jaffry . 2015. “Global Financial Crisis Effects on Volatility Spillover between Mainland China and Hong Kong Stock Markets.” Investment Management and Financial Innovations 12: 26–34.
  • Zhang, Y. , and S. Y. Tong . 2009. “Hong Kong’s Economy in the Financial Crisis.” EAI Background Brief No.448.
  • Zhang, C-si , Da-Y Zhang , and J. Breece . 2011. “Financial Crisis, Monetary Policy, and Stock Market Volatility in China.” Annals of Economics and Finance 12 (2): 371–388.
  • Zhu, H. , Y. Tang , and P. Guo . 2017. “Asymmetric Spillover Effects between the Shanghai and Hong Kong Stock Markets: Evidence from Quantile Lagged Regression.” Applied Economics 49 (9): 886–902.10.1080/00036846.2016.1208356

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.