Business cycles in a small open economy: The case of Hong Kong

Abstract

This paper was presented at the All China Economics (ACE) International Conference, Hong Kong, 2006, XXXIII Symposium of Economic Analysis, Spain, 2007, DEGIT XVI Dynamics, Economic Growth and International Trade, Los Angeles, USA, 2009.small open economy, business cycles, financial frictions, total factor productiviy, country risk spread, neoclassical model