重要事項 Import Notes

重要事項 Import Notes
修習國際金融專題學生,
請務必參見 課程網頁維護重要事項 Import Notes
Registered students MUST see the Import Notes

2013-10-10

A Study of the Causal Relationship between Real Exchange Rate of Renminbi and Hong Kong Stock Market Index


作者:
Wai-Choi Lee1,2 wclee@hsmc.edu.hk
資料來源:
Modern Economy. Sep2012, Vol. 3 Issue 5, p563-566. 4p.
文件類型:
Article
主題術語:
*RENMINBI
*RESEARCH
*FOREIGN exchange
*FOREIGN exchange market
*FOREIGN exchange rates
*EQUILIBRIUM (Economics)
作者提供的關鍵字:
Cointegration Test
Error Correction Mechanism
Granger Causality Test
Hang Seng Index
Renminbi
摘要:
This paper attempts to study whether the real exchange rate of Renminbi and stock market index in Hong Kong are related to each other or not. The study uses cointegration and Granger causality tests on the monthly data of the real exchange rate of Renmnibi (RMB) in terms of Hong Kong dollars (REX) and Hang Seng Index (HSI) since the foreign exchange reform of China in July 2005. The major findings of the study are a) the cointegration test shows that there exists a long-run equilibrium relationship between REX and HSI; b) the error correction mechanism further evidences that there is an error correction between REX and HSI in the short run; c) the Granger causality test indicates that there is causal direction from RMB to HSI but not vice versa.[ABSTRACT FROM AUTHOR]
 
Copyright of Modern Economy is the property of Scientific Research Publishing and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.(Copyright applies to all Abstracts.)
作者所屬機構:
1Department of Economics and Finance, Hang Seng Management College, Hong Kong, China
2School of Finance, Shanghai University of Finance and Economics, Shanghai, China
ISSN:
2152-7245
DOI:
10.4236/me.2012.35074
入藏號碼:
84546638
資料庫:
Business Source Complete




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2013-10-08

本院商情資訊中心辦理『AREMOS 經濟統計資料庫』操作說明會

『AREMOS 經濟統計資料庫』是一個很常用的資料庫, 有興趣的同學鼓勵你去參加喔!

YNY

本院商情資訊中心謹訂於102/10/23 (三) 11：00~12：00  假商學103 金融E化教學中心 辦理『AREMOS 經濟統計資料庫』操作說明會，敬請 踴躍出席與會，請 查照。

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AREMOS 經濟統計資料庫 操作說明會

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PO 文注意事項 (Notes about your posts required for this course)

每位同學必需建立與維護 2 個網頁: (updated on 2010.9.19)
Every registered student MUST post and maintain TWO pages at this site.

1. 你的期末報告想要仿照的原始 paper 重點摘要頁, 見 [範例]
A summary of the paper you choose to follow in your term-project. (see a suggestive [summary example ]).

2. 你的學習紀錄頁, 見 [範例]
A "learning weblog" of your progress during this course (see [example]). This example is demonstrative rather than required to conform to.

3. 記得每一頁要在頁尾處輸入你的「標籤」, 包含學號後5碼, 名字或暱稱, 和 其它你自訂的關鍵字, 例 ADF、共整合、PPP、等
When you edit your pages, be sure to write appropriate "Tags" (as many as you wish) (around the bottom of editing screen) for your posted pages to let me identify your required contributions. The tags should at least include your last 5-digit student ID and keywords about the page.

4. 請同學在你所選的 paper 加上標籤:「已選」
If you have already decided a paper to follow and post a page for it. Please be sure to attach that page a specific tag named "selected or 已選." It is of course possible that two or more students may choose the same paper to follow as their term-project. BUT only one of them can be authorized to follow the specific paper. The decision will be based on a first-come-first-serve rule. That is, the one who posts the summary page of a paper gets the first priority to follow that paper posted with a tag named"selected" paper .

5. 在你的 學習紀錄頁加上標籤:「學習記事」
Don't forget to stick a tag "weblog" with your "learning weblog" page in addition to your last 5-digit student ID.


== Posted on 2009.10.05 ==
請同學在你所選的 paper 加上標籤:「已選」
在你的 學習紀錄頁加上標籤:「學習記事」