Social and Behavioral Sciences Commons^™

The Labor Income Tax Equivalent Of Price Scissors In Pre-Reform China, Hiroyuki Imai

CAPS Working Paper Series

The government in a centrally planned economy can raise investable resources through price and wage manipulation. By treating price and wage controls as an implicit form of labor income taxation. I have assessed the scale of resource transfers from households to the government in pre-reform China. From the observed rise of the labor income share in the non-agricultural sector output resulting from price and wage liberalization since 1979, the implicit tax revenue during the 1964-78 period is assessed as 10.1 % of GDP. According to estimates based on a two-sector model, this implicit labor income tax led to implied reduction …

The Rise And Fall Of The Hk Economy, Lok Sang Ho

CAPS Working Paper Series

In this Chapter, I want to make a simple hypothesis. Hong Kong under the SAR Government had departed from the long-held recipe of success. The economic decline witnessed till the time of writing was the direct and immediate result of misguided government intervention, particularly in the property market. The nine-point rescue package announced on June 221998, however, showed that the SAR government might have learnt the lesson. In the absence of a full-hearted reversion to the old wisdom of positive nonintervention, however, the Hong Kong economy would continue to decline, and Hong Kong would lose its importance in the global …

中國貿易保護代價的測算 : 方法、結論和意義 = An Estimate Of The Welfare Cost Of Protection In China, Shuguang Zhang

CAPS Working Paper Series

本項研究是一項實証研究,目的在於計算中國貿易保護的程度和貿易自由化的福利效應, 並對計算結果進行初步分析和國際比較。

This study was sponsored by the Institute of International Economics in the United States. Jointly conducted by Zhang Shuguang, Zhang Yansheng, and Wan Zhongxin, it has estimated, for the first time, the elasticity of demand for 25 of China’s major import categories. It has also estimated the welfare cost of protection in China and has made comparison with that in other selected countries.

Coping With Contagion : Europe And The Asian Economic Crisis, Brian Bridges

CAPS Working Paper Series

No abstract provided.

The Nature Of Optimal Public Policy, Lok Sang Ho

Centre for Public Policy Studies : CPPS Working Paper Series

The design of public policy must take human nature as an immutable constraint, both with a view to choosing the appropriate policy objectives and in regard to the human response and hence the effects of the policy. Once human nature is seen in the proper light and the multiple needs of society are recognized, it is not difficult to see the logic of a hierarchy of policy objectives with some being treated as tentative constraints and others as “maximands." Optimal public policy making in the short term would treat those constraints as given but over the longer term the constraints …