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Programs

 

HIEBS operates with an "open architecture" to facilitate the introduction of new research programs over time. Currently there are seven programs:

  1. Asia-Pacific Competitiveness
  2. Macroeconomic Fluctuations and Growth
  3. Risk Management and Financial Markets
  4. Human Resources
  5. China Financial Research
  6. China-Globalization
  7. Asia-Pacific Economic Co-operation Studies

 

Asia-Pacific Competitiveness
led by Michael Enright and Zhigang Tao

Competitiveness is critical in today's world economy. National and regional economies will only prosper in the future if their firms and industries can remain viable in the face of increasing global competition. This is especially true of Asia-Pacific economies, whose rise has been closely linked with international trade and investment, and even more so for a small open economy such as Hong Kong's. This program focuses on Hong Kong's competitiveness and on issues of competitiveness in the larger Asia-Pacific region. A prominent theme is Hong Kong's interaction with the cities of Macao, Shenzhen, Zhuhai and the province of Guangdong.

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Macroeconomic Fluctuations and Growth
led by Alan Siu

Recent developments in Asia have focused our attention on the perils of sudden shifts in the macroeconomic environment. Increasing economic integration with the Chinese hinterland has also made it more difficult to understand Hong Kong's true macro quantitative relationships using traditional modeling assumptions. The government has made many important policy decisions and strategic choices in the absence of detailed quantitative knowledge of macroeconomic relationships. We are presently developing a high-frequency macroeconomic performance indicators system that can be developed into an early warning system. The first stage applies to the Hong Kong economy, and the second stage addresses salient aspects of the Chinese economy. The system acts as a useful foundation for future work on quantifying macroeconomic relationships of our economy.

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Risk Management and Financial Markets
led by Eric Chang

Hong Kong is a significant regional financial center and aspires to become Asia's leading international financial center, but it faces keen competition from other cities in the region that have the same goal. The program undertakes studies of a variety of subjects related to maintaining and developing Hong Kong's competitive edge as an international financial center. The central theme of this research effort is to enhance the efficiency and integrity of the financial system to encourage and foster financial innovation and to promote and ensure prudent risk management behavior.

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Human Resources
led by Wing Suen and Y.C. Richard Wong

Hong Kong is becoming a knowledge-based economy founded on trade and financial services, business and professional services, and the knowledge-intensive managerial and co-ordination activities of manufacturing industries. This change, which has occurred more rapidly in Hong Kong than in any other economy in the world, has profound implications for Hong Kong's future. Hong Kong requires a competitive market that can quickly adapt to fluctuations in the economic environment and that will encourage investments in human capital. But the government still plays a large role in financing and administering basic education and research. As Hong Kong's economy develops, the bifurcation of skilled versus unskilled labor will become pronounced. The government will have to provide a safety net for victims of market forces. The program studies the operation of the labor market in general and evaluates existing policies and policy option related to labor, education and welfare.

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China Financial Research
led by Frank Song

Since the establishment of China's stock market in Shanghai and Shenzhen in early 1990s, there has been tremendous development in the securities market in China. The remarkable progress is also accompanied by some inevitable problems. Many important issues, such as pricing of securities, security regulation, corporate finance, and corporate governance of listed company, have been raised. A Center for China Financial Research (CCFR) has been set-up to facilitate research on securities markets, banking, and financial policies of China and to provide a platform linking academic researchers with the government and the business community. CCFR also has established working relationships with well-known research institutions in China as well as the rest of the world.

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China-Globalization Program

led by Larry Qiu

Research and education in the field of international trade and foreign direct investment (FDI) in China have yet to be developed. Researchers in this field who have mastered the modern methodologies and research skills are few.  And, those who have the knowledge about frontier research in this area have yet to integrate themselves to the international academic circle.  This program aims to facilitate research related to globalization in China and the rest of the world, help international trade and FDI research and education in China, conduct high-impact academic and policy papers as well as workshops on China’s globalization, and build a bridge between China and the rest of the world in the field of international trade and FDI.

 

 

 

Asia-Pacific Economic Co-operation Studies

led by Alan Siu

The program serves as a linkage between academic researchers within the University, the government, the business community, and APEC Study Centres in other countries.  The program seeks to establish institutional links and exchange programs with major policy research institutions in the region.  The connections provide information on pressing policy concerns so that we can focus our research activities accordingly. Networking with overseas centres contributes to the promoting of Hong Kong as a higher education centre in the region.

 

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Last modified: February 14, 2008 (11:10) Admin Logon
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