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Hong Kong Capital Flight

其他書名	Determinants and Features
出版	SSRN, 2017
URL	http://books.google.com.hk/books?id=4DP_zgEACAAJ&hl=&source=gbs_api

註釋This study uses the hot money, the World Bank and trade mis-invoicing methods to measure capital flights in Hong Kong. The study uses the OLS model to test the determinant of capital flights in Hong Kong and the round-tripping foreign direct investment model to estimate the round-tripping capital flight between Hong Kong and China. The result suggests that all three methods used in this study shows there is capital flight in Hong Kong. The determinants of Hong Kong capital flight are currency overvaluation, current account deficit and China's announcement of Open Door Policy in 1979. The round-tripping phenomenon between Hong Kong and China takes about one-third of China's total recorded foreign direct investment (FDI) from Hong Kong and more than half of Hong Kong reported FDI to China.