This paper aims at providing empirical evidence on the relationship between capital inflows and asset prices, focusing on China, Hong Kong, Indonesia, Korea and Thailand. Main findings are: the positive responses of share prices to portfolio inflows shocks were verified in all the estimated...

This paper examines the monetary policy rule in practice for China during the period from 1998Q1 to 2014Q2 by applying the Taylor rule and by estimating policy reaction functions. The analysis would be significant since during that period the monetary-policy instruments and targets have been...