Three urban growth theories predict parallel growth of cities. The endogenous growth theory predicts deterministic parallel growth; the random growth theory implies that city growth follows Gibrat’s law with a steady-state distribution; and the hybrid growth theory suggests the co-movement of...

This paper investigates volatility switching in the Shanghai Stock Exchange (SSE hereafter,) using several recently developed techniques. They can be categorized into CUSUM type tests and Markov-Switching ARCH models. By detecting and dating switches with these models, we are able to show the...

The Chinese Stock market had a special feature up to 2001 in that the stocks trading was segmented according to the type of investor (domestic and foreign). Since companies can issue both A shares (for domestic residents) and B shares (foreign investors) and the legal status of these shares are...

This paper aims at investigating the dynamic dependence and extreme risk comovement of oil price and exchange rates in seven oil-importing and seven oil-exporting countries. For this purpose, we use six representative time- varying copula models and four types of tail dependences to assess the...