Publications by Kui-Wai Li
Sections:
I
Articles in Journals
II
Books and Chapters
III
Guest Editor
IV
Conference Papers and Proceedings
V
Working Papers
VI
Research Reports
I
Articles in Journals
2013, “Analyzing China’s Productivity Growth: Evidence from Manufacturing Industries” (with
T. Liu), Economic Systems.
2013, "The US Monetary Performance Prior to the 2008 Crisis", Applied Economics, 45 (24):
3449-3460.
2012, "A Study on the Volatility Forecast of the U.S. Housing Market in the 2008 Crisis",
Applied Financial Economics, 22 (22) November: 1869-1880.
2012, “Is There a ‘Low Interest Rate Trap’?”, Ekonomika, 91 (1) March: 7-23.
2011, “An Analysis of Technical Efficiency in Post-reform China”, (with Xianbo Zhou and Qin
Li), China Economic Review, 22 (3) September: 357-372.
2011, “Inequality and Development: Evidence from Semiparametric Estimation with Panel
Data”, (with Xianbo Zhou), Economics Letters, 113 (3) December: 203-207.
2011, “The Optimal Level and Impact of Internal Factors on Growth”, Modern Economy, 2) July:
181-193.
2011, “Economic Integration between Mainland China and Hong Kong SAR: An Analysis of
Growth Attributes” (with Tung Liu, Hoi Kuan Lam and Liang Wang), The Chinese Economy, 44
(4) July: 92-114.
2011, “Economic and Productivity Growth Decomposition: An Application to Post-reform
China” (with T. Liu), Economic Modelling, 28: 366-373.
2011, “Comparing the Determinants of Outward Investment from China and the United States”
(with Y. Dong and D. Zhang), The Chinese Economy, 44 (2) March-April: 58-77.
2011, “The Impact of Openness and Domestic Performance on Growth using Nonparametric
Estimation” (with X. Zhou), Applied Economics Letters, 18 (11) July: 1065-1070.
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2010, “Productivity Growth among Chinese Mainland Regions and Hong Kong” (with T. Liu, H.
K. Lam, and L. Wang), in Yuan, Zhiguang (ed), The World Economy in Financial Crisis,
Shanghai Forum Series 2009, Shanghai People’s Publisher, May: 160-187.
2010, “Causality between Openness and Indigenous Factors among World Economies” (with X.
Zhou), Investment Management and Financial Innovations, 7 (2): 46-54.
2010, “Openness, Domestic Performance and Growth” (with X. Zhou), Economics Letters, 107:
13-16.
2010, “Comparing the Performance of Relative Stock Return Differential and Real Exchange
Rate in Two Financial Crisis” (with Douglas K. T. Wong), Applied Financial Economics,
Special Issue on the Global Financial Crisis, 20 (1/2) January: 137-150.
2009, “China’s Total Factor Productivity Estimates by Region, Investment Sources and
Ownership”, Economic Systems, 33 (3) September: 213-230.
2009, 周先波、李鉅威和楊逢利，“關於全球化對經濟增長的邊際影響—基於面板數據模
型非參數估計的分析”，世界經濟研究，3 (181)：27-32。Zhou, Xianbo, Li, Kui-Wai, and
Yang, Fengli, “A Nonparametric Estimation Study on the Marginal Effect of Globalization on
Economic Growth”, World Economy Study, 3 (181): 27-32 (in Chinese).
2009, “Output Volatility of Five Crisis-Affected East Asian Economies” (with M. L. Kwok),
Japan and the World Economy, 21 (2) March: 172-182.
2009, “Economic Performance of Human Capital in Post-reform China” (with L. Yun and G. C.
S. Liu), The Chinese Economy, 42 (1) January-February: 40-61.
2007, “Productivity and Manufacture Export Causality among World Regions: 1989-1999” (with
S. Bender), The International Trade Journal, 21 (2) Summer, 121-159.
2006, “Disparity in Factor Contributions between Coastal and Inner Provinces in Post-reform
China” (with Tung Liu), China Economic Review, 17 (4): 449-470.
2005, “The Economic Strategy for Hong Kong SAR: Evidence from Productivity and Cost
Analysis”, Journal of Asian Economics, 16 (4) July-August: 737-754.
2004, “Fiscal Performance and the Introduction of the Goods and Sales Tax in Hong Kong”,
Asia-Pacific Journal of Taxation, 8 (4) Winter: 119-132.
2004, “The Economic Intricacies of Banking Reform in China” (with Jun Ma), The Chinese
Economy, 37 (4) July-August: 50-77.
2004, “Performance of Financial Resources in China’s Provinces” (with Tung Liu), Journal of
the Asia Pacific Economy, 9 (1): 32-48.
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2002, “China’s Economic Growth: 1952-2010” (with Gregory Chow), Economic Development
and Cultural Change, 51 (1) October: 247-256.
2001, “The Political Economy of Pre- and Post-1997 Hong Kong”, Asian Affairs: An American
Review, 28 (2) Summer: 67-80.
2001, “Financial Liberalization and Growth in China’s Economic Reform” (with Tung Liu), The
World Economy, 24 (5) May: 673-687.
2001, “Impact of Liberalization of Financial Resources in China’s Economic Growth: Provincial
Evidences” (with Tung Liu), Journal of Asian Economics, 12 (2): 245-262.
2001, “The Two Decades of China’s Economic Reform Compared”, World Economy and China,
9 (2) March-April: 55-60.
1997, “Money and Monetization in China’s Economic Reform”, Applied Economics, 29
September: 1139-1145.
1997, “Trade Regimes and China’s Accession to the World Trade Organization” (with Neil A.
Tait), Journal of World Trade, 31 (3) June: 93-111.
1994, “Causal Relationships among Economic Aggregates in China” (with Winson Leung),
Applied Economics, 26 June: 1189-1196.
1992, “Savings, Foreign Resources and Monetary Aggregates in China 1952-1989”, China
Economic Review, 3(2): 125-133.
1992, “Accumulation of Financial Resources in Asian Economies” (with Michael Skully),
Savings and Development, 16(3): 225-241.
1992, “Generalized System of Preference and Export Performance: The Hong Kong Experience”
(with Raymond H. F. Kwok), Seoul Journal of Economics, 4(2) June: 173-187.
1991, “Financial Deepening and Institutional Development: Some Asian Experiences” (with
Michael Skully), Savings and Development, 15(2): 147-165.
1991, “Positive Adjustment against Protectionism: The Case of Textile and Clothing Industry in
Hong Kong”, The Developing Economies, 29(3) September: 197-209.
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II
Books and Chapters
2012, Economic Freedom: Lessons of Hong Kong, Singapore: World Scientific Publishers.
2012, "Characterizing Excellence: The Evolution of the Hong Kong Economy", Hong Kong
Artists: 20 Portraits, Cordelia Noe and Christopher Noe (eds.), Verlag fur Moderne Kunst,
Germany, May: 18-27.
2007, “Hong Kong”, in Chowdhury, Anis and W. Mahmud (ed), A Handbook of Asian
Economies, London: Edward Elgar.
2006, The Hong Kong Economy: Recovery and Restructuring, Singapore: McGraw Hill
Educational (Asia).
2006, “The Gain and Loss in Export Advantage among World Regions”, in Androuais, Anne and
Louis Augustin-Jean (ed), Asian Economies in the Age of Globalization, Lingnan University,
Hong Kong, November.
2002, Capitalist Development and Economism in East Asia: the Rise of Hong Kong, Singapore,
Taiwan and South Korea, London: Routledge, March.
1999, “China” in East Asia Analytical Unit, Asia’s Financial Markets – Capitalising on Reform,
Department of Foreign Affairs and Trade, Australia, pp. 285-317.
1997, Financing China Trade and Investment, (edited), Westport: Praeger Publishers, April.
1997, “Industrial Policy in a Laissez-Faire Economy - The Case of Hong Kong” (with Edward
Chen), in Seiichi Masuyama, Donna Vandenbrink and Chia Siow Yue (ed), Industrial Policies in
East Asia, Tokyo: Normura Research Institute, pp 91-120.
1997, “Money and Banking in China” (with Xu Tang), in Kui-Wai Li (ed), Financing China
Trade and Investment, Westport: Praeger Publishers, pp 13-42.
1997, “Foreign Bank Lending to Chinese Industries: Criteria and procedures” (with Pangshun
Chai), in Kui-Wai Li (ed), Financing China Trade and Investment, Westport: Praeger Publishers,
pp 43-54.
1997, “The Stock Markets in China” (with Kwok-Fai Wong), in Kui-Wai Li (ed), Financing
China Trade and Investment, Westport: Praeger Publishers, pp 215-238.
1996, “Industry Policy and Development in Hong Kong” (with Edward Chen), in Henry Ho and
Lawrence Chau (ed), The Hong Kong Economy in Transition, Hong Kong: Asian Research
Service, pp 87-108.
1994, Financial Repression and Economic Reform in China, Westport: Praeger Publishers, July
4
1993, “Manufactured Export Expansion in Hong Kong and Asian-Pacific Regional Cooperation”
(with Edward Chen), in Shu-chin Yang (ed) Manufactured Exports of East Asian Industrializing
Economies and Possible Regional Cooperation, New York: M.E. Sharpe, 1993, pp 103-134.
1993, “Industry and Trade” (with Kenneth Lo), in Lok-sang Ho and Po-king Choi (ed) The Other
Hong Kong Report 1993, Hong Kong: Chinese University Press, pp 109-126.
1993, “The Interrelationship between Macroeconomic Variables and Stock Prices in the Newly
Industrializing Economies of Asia” (with Raymond H. F. Kwok), in T. Fetherston and T. Bos (ed)
Rising Capital Markets Empirical Studies, Volume 10, Colorado: JAI Press, pp 221-228.
1991, “Industrial Development and Industry Policy in Hong Kong” (with Edward Chen), in
Edward K.Y. Chen, Mee-Kau Nyaw and Teresa Wong (ed) Industry and Trade Development in
Hong Kong, Centre of Asian Studies, University of Hong Kong, pp 3-47.
1987, Advanced Microeconomics, Hong Kong: Goodman Publisher.
1990, “Manufactured Export Expansion and Economic Growth in Hong Kong: Experience and
Prospects” (with Edward Chen), in Jalaleddin Jalali (ed) A Research Inventory for the Multilateral
Trade Negotiations, World Bank Papers for the Uruguay Round, Third Annual Compilation, The
World Bank, Washington, 1990, pp 71.
1988, “Industry” (with Edward Chen), in Henry Ho and Lawrence Chau (ed) The Economic System
of Hong Kong, Asian Research Service, Hong Kong, 1988, pp 113-139.
III
Guest Editor
2011, "Asian Region Special Issue: Introduction" (with Eden Yu), World Economy, 34, 7, July:
1067-1070.
2011, "Rising China in International Trade and Economic Integration: Introduction", The
Chinese Economy, 44, 4, July: 3-6.
2010, “Some Positive Recent Development in East Asia”, Japan and the World Economy, 22 (4)
December: 217-272.
2009, “Finance and Trade Development in Contemporary China”, The Chinese Economy, March
and April.
2009, "Issues on Asia's Finance and Trade: Introduction", The World Economy (with Eden Yu),
32 July Supplement 7: 995-997.
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IV
Conference Papers and Proceedings
2011, "Performance of Economic and Political Factors in Growth Acceleration and
Sustainability" (with Joseph Y. Y. Wong), Korea and the World Economy X: Challenges after
the Recent Global Turbulences, Claremont, USA, August.
2011, "Is There a Monetary Cause to the 2008 Financial Crisis? An Empirical Study on the US
Monetary Performace:1989-2008", Global Economics, Finance and Management Conference,
World Academy of Social Sciences Australia, Toronto, Canada, June, Won the best paper
award.
2011, "The Effects of Openness and Indigeneity on Growth: Evidence from Nonparametric Panel
data Model with Two-way Random Effects" (with X. Zhou), proceedings of International
Conference in E-Business and E-Government (ICEE), IEEE, 4, 3642-45.
2011, "Cross-Country Convergence and Growth: Evidence from Nonparametric and
Semiparametric Analyses" (with X. Zhou), APEC Study Center Consortium Annual Conference,
San Francisco, USA, September.
2009, “Pertinent to Economic Integration: Performance of Growth Attributes in China and Hong
Kong”, Shanghai Forum, Fudan University, May 11-13.
2008, “The Three Episodes of Currency Attacks in Hong Kong’s Linked Exchange Rate”, The
Fourth Annual Asia Pacific Economic Association (APEA) Conference, Central University of
Finance and Economics, Beijing, December 13-14.
2008, “Decomposition of Economic Growth and Productivity Change in Post-reform China”
(with T. Liu), Conference on “China and the World Economy”, Nottingham University Ningbo
Campus, November 6-7.
2008, “Total Factor Productivity Analysis of the Service industry in Hong Kong: 1980-2005”,
International conference in Innovation and Productivity Improvement in Service Industries,
Graduate School of Economics and Management, Tohoku University, Japan, March 26-27.
2006, “Impact of Openness and Indigenous Factors on Growth among World Economies” (with
Iris Pang and Michael Ng), APEC Study Center Consortium Annual Conference, Ho Chi Minh
City, Vietnam, May 23 – 24.
2003, “Economism: the New Development Paradigm”, Cambridge Journal of Economics
Conference on Economics for the Future, September 17-19.
2003, “Relative Advantage of Manufacture Exports among World Regions: 1981-1999” (with
Siegfried Bender), APEC Study Center Consortium Annual Conference, Phuket, Thailand, 25-28
May.
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2002, “Implications of Changing Trade and Comparative Advantage on Asia’s Economic
Cooperation”, Fifth China-ASEAN Research Institute Roundtable: Regionalism and Community
Building in East Asia, Center of Asian Studies, University of Hong Kong, October 17-19.
2002, “China’s Capital and Productivity”, Conference on China and the World Economy, City
University of Hong Kong, June 14-16.
2001, “Trade and Comparative Advantage of Asian and Latin American Manufactured Exports”,
APEC Study Center Consortium Conference, Tianjin, China, May 18-20.
1999, “APEC After Ten Years”, APEC Study Centre Consortium Conference, Auckland, New
Zealand, May 31-June 2.
1997, “Interpreting Income Inequality the Asian Way”, Chinese Economic Association of North
America, Allied Social Science Association Annual Conference, January 3-6, New Orleans,
USA.
1994, “Modelling of Black and Official Exchange Rates: Indonesia and China” (with Kenneth Lo),
Western Economic Association International's 69th Annual Conference, June 29 - July 3,
Vancouver, Canada.
1993, “Complementarity of Economic Growth - Hong Kong and South China”, Conference on the
Economic Relationship between South China and Hong Kong, Guangzhou, China, March 19-22.
1992, “Trade, Payments and Reserve Cooperation among ESCAP Countries”, Euro-Asia
Management Studies Association Conference, University of Bradford, Bradford, England,
November 27-29.
V
Working Papers
2012, "An Empirical Study on the Monetary Performance of the U.S. Economy Prior to the 2008
Financial Crisis", Department of Economics and Finance, City University of Hong Kong,
2012032, June.
2012, "Performance of Economic and Political Factors in Sustainable Growth Acceleration"
(with Joseph Y. Y. Wong), Department of Economics and Finance, City University of Hong
Kong, 2012024, April.
2012, "Analyzing the Kuznets Relationship using Nonparametric and Semiparametric Methods",
CIRJE, University of Tokyo, Japan, CIRJE-F-839, January.
2011, "The Exchange Rate and Interest Rate Differential Relationship: Evidence from Two
Financial Crises" (with D. K. T. Wong), Department of Economics and Finance, City University
of Hong Kong, 2011018, December.
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2011, "Identifying the Signs of Currency Speculation in Hong Kong's Linked Exchange Rate",
Department of Economics and Finance, City University of Hong Kong, 2011006, September.
2010, "Analyzing Productivity Growth: Evidence from China's Manufacturing Industries"(with T.
Liu), Ball State University, ECWP201003, March.
2008, The Commutative Effect and Causality of Openness and Indigenous Factors among World
Economies (with Xianbo Zhou), Working Paper 245/08, Center for the Study of Globalisation
and Regionalisation, University of Warwick, June.
2008, "Revisiting Solow's Decomposition of Economic and Productivity Growth" (with T.Liu),
Ball State University, ECWP200805, December.
2007, Can Performance of Indigenous Factors Influence Growth and Globalization? (with Iris
Pang and Michael Ng), Working Paper, Center for the Study of Globalisation and
Regionalisation, University of Warwick.
2003, China’s Capital and Productivity Measurement Using Financial Resources, Discussion
Paper No. 851, Economic Growth Centre, Yale University, February. Listed in SSRN’s Top
Ten Download for Recent Hits (for abstract published in first 60 days) in 5 categories (Yale’s
Economic Department, Economic Growth, IO: Productivity, Innovation and Technology,
Productivity (Topic), and Yale’s Economic Growth Centre Discussion Paper).
2002, The Changing Trade and Revealed Comparative Advantages of Asian and Latin American
Manufacture Exports (with Siegfried Bender), Discussion Paper No. 843, Economic Growth
Centre, Yale University, March 2002. Listed in SSRN’s Top Ten Download for Recent Hits
(for abstracts published in first 60 days) in 5 categories (Yale Economic Growth Centre
Discussion Paper, Yale Economic Department, Economic Growth, International Trade, and the
Economics Departments Research Papers), and for All Time Hits in one category (Yale
Economic Growth Centre Discussion Papers).
1996, Some Thoughts on China’s 1995 Bank Reform, Working Paper No. 78, Department of
Economics and Finance, City University of Hong Kong, May. Presented in the Canadian
Economic Association Conference, May 30 – June 2.
1996, The Productivity of Financial Capital in China's Economic Reform: A Simple Regression
Analysis, No. 77, Department of Economics and Finance, City University of Hong Kong, March.
1989, Macro-Approaches to Development Finance: A Preliminary Survey, Research Paper No. 4,
Department of Economics and Finance, City University of Hong Kong, April.
1988, Sources of Secondary Data for Research on the Chinese Economy, Working Paper No. 22,
Department of Business and Management, City University of Hong Kong, January.
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1988, The Reform and Management of Economic Finance in the PRC, Working Paper No. 28,
Department of Business and Management, City University of Hong Kong, May.
1984, The Finance of Economic Development in China 1978-1984, Discussion Paper No. 41,
Department of Economics, University of Hong Kong, November.
VI
Research Reports
2006, Globalization and Indigenous Indicators: The 2005 Report with Policy Recommendation,
APEC Study Centre, Faculty of Business, City University of Hong Kong, May.
2004, Hong Kong – Shenzhen Economic Integration and the Border Industrial Zone, APEC
Study Center, Faculty of Business, City University of Hong Kong (in Chinese), April.
1994, Matching Investment Opportunities and Relocation of Industries: The Experience of Hong
Kong, Division of Industry, Human Settlements and Environment, Economic and Social
Commission for Asia and the Pacific (ESCAP), Bangkok, Thailand.
1992, Fostering Regional Monetary Co-operation - The Asian Reserve Bank, The United Nations,
New York, (United Nations Publications Reference no.: ST/ESCAP/1179).
1991, Generalized System of Preference Graduation - the Hong Kong Case, International Trade and
Tourism Division, Economic and Social Commission for Asia and the Pacific (ESCAP), Bangkok,
Thailand.
1985, “The Finance of Economic Development in China”, paper contributed to Annual Report,
Economic and Social Commission for Asia and the Pacific, (ESCAP) Bangkok, Thailand.
1982, Agricultural Technology - the Experience of the People's Republic of China, Employment
and Development Department, International Labour Office, Geneva.
1993, “Complementarity of Economic Growth - Hong Kong and South China”, Conference on the
Economic Relationship between South China and Hong Kong, Guangzhou, China, March 19-22.
1992, “Trade, Payments and Reserve Cooperation among ESCAP Countries”, Euro-Asia
Management Studies Association Conference, University of Bradford, Bradford, England,
November 27-29.
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