NBER Publications by Yum K. Kwan
Working Papers and Chapters
| August 2006 | The Direct Substitution Between Government and Private Consumption in East Asia
w12431
We investigate empirically the extent to which government consumption substitutes for private consumption in nine East Asia countries. Panel cointegrating regression uncovers a significantly positive elasticity of substitution between government and private consumption, implying on average government and private consumption are substitutes in East Asia. Country-by-country analysis, however, reveals diversity in the substitutability estimates. The four North East countries %u2013 China, Hong Kong, Japan, and Korea %u2013 tend to share similar and moderate values of the substitution elasticity. For the five ASEAN countries studied in this paper, the relationship between private and government consumption vary substantially, both in the sign and magnitude of the elasticity of substitution. Pr... |
| January 2001 | Credibility of Hong Kong’s Currency Board: The Role of Institutional Arrangements
with Francis T. Lui, Leonard K. Cheng
in Regional and Global Capital Flows: Macroeconomics Causes and Consequences, NBER-EASE Volume 10, Takatoshi Ito and Anne O. Krueger, editors
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| January 2000 | The Location of Foreign Direct Investment in Chinese Regions: Further Analysis of Labor Quality
with Leonard Cheng
in The Role of Foreign Direct Investment in East Asian Economic Development, NBER-EASE Volume 9, Takatoshi Ito and Anne O. Krueger, editors
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| January 1999 | 15. Hong Kong's Currency Board and Changing Monetary Regimes
with Francis Lui
in Changes in Exchange Rates in Rapidly Development Countries: Theory, Practice, and Policy Issues (NBER-EASE volume 7), Takatoshi Ito and Anne O. Krueger, editors
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