| Journal Call no. | HD28.H64 |
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| Author | Hung, Bill W. S. |
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| Article Title | Dynamic Interactions of capital flows, stock prices, exchange rates, and interest rates : the case of Hong Kong / Bill W.S. Hung and Christopher S.P. Tong. |
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| Is Part Of | Hong Kong journal of business management ; v.14, 1996, p.1-19, illus. |
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| Abstract | In this paper there are two objectives. The first is to develop a dynamic model of capital flow based on the inter-relationships between stock prices and key macroeconomic variable. The second is to test the validity of the model empirically by using Hong Kong data. By using the Johansen multivariate cointegration approach, it was found that there is a long-run equilibrium relationship between the level of capital flow and the stock price differential in Hong Kong. |
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