A decade has passed since the Asian financial crisis (AFC) in 1997, and attention is drawn to the output performance of the crisis-affected economies in East Asia. Using the Hodrick-Prescott (HP) filter, this paper examines the growth volatility of GDP, its components and the stock market of...

In addition to privatization marketization, liberalization and pragmatization, monetization has been argued as the fifth feature in china's economic reform. If monetization is taken to mean a process through which variations in money supply or interest rate are to affect macroeconomic variables,...

This article uses Hong Kong stock market's four sub-indices to examine the existence and causes of rational expectation bubbles. The unit root test is applied to the rational bubble hypothesis. Various causality test methods are used to examine the causality of bubble among the four sub-indices....