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貨幣爭霸 花落誰家 (The race is on for the new world currency)
近年來,數碼貨幣在世界各地日常經濟活動中已擔當不可或缺的角色,例如中國內地的支付系統,就以微信和支付寶居主導地位,數以億計的消費者已習慣以電子錢包取代現金。臉書正籌備發行新加密幣Libra,標榜為與一籃子官方貨幣掛鈎的「穩定幣」(stablecoin)。在非洲,肯尼亞電訊公司Safaricom亦已推出手機支付程式M-Pesa。

湾区争雄重育才 融汇中西港占优
去年夏天笔者刚从洛杉矶移居到香港这座阔别多年的城市,就接到所属经管学院通知,因学生报名人数突然几近翻倍,需多教一门应用计量经济学的硕士课程。2019冠状病毒病疫情下,香港特区的大学还能增产扩容,实属难得。
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Watch, Read, Listen
Economic analysis on the history of witch trials
英語詞witch hunt原本是指對巫師的追捕,今天在英語世界使用時,則用上它的引伸義,指專制政府、有權勢者或政要對異見者的政治迫害。美國總統特朗普去年就把民主黨對他的彈劾調查,以及前任官員對他不利的爆料,稱為witch hunt。前些時候南韓新天地教會的發言人抱怨,他們的信眾作為新型冠狀病毒的受害者,卻被視為傳播病毒的禍首,英文媒體轉述他的發言時,就用上witch hunt這個詞(不知發言人原本用的是韓語還是英語!)。
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Easy to suppress rioters, difficult to gain people’s trust
The article 《「暴民」易除 民心難挽 》 was originally published in Hong Kong Economic Journal…
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Easing the anti-epidemic measures with caution to control the spread of virus
年初歷經Omicron第五波疫情,香港估計可能已有400萬人染疫。4月下旬,防疫政策放寬後,本地經濟逐步恢復,現在正是檢視防疫策略的好時機。綜觀國際,防疫策略大致有二:一是零確診,重點是減低確診個案,檢疫需時較長;二是隨機應變,按疫情起伏而增減防疫措施,盡量紓緩對公共醫療系統的壓力。
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Early warning of FEDS tightening monetary policy
當前冠狀病毒病大流行之下,經濟復甦一如2008年金融危機之後,需靠央行長期保持低利率政策。2020年初,美國聯邦儲備局(聯儲局)把利率由1.75厘大幅降至0.25厘,並推行量化寬鬆政策,以拯救經濟。隨着今年年初通脹升溫,市場預期擴張性貨幣政策將有所調整。聯儲局於本年6月宣布議息結果,0厘至0.25厘的聯邦基金利率維持不變。
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Domestic integration in economy, global search for talent
筆者三個月前在本欄撰文,倡議「化西入中」的港式教育,吸引中國內地學生來港求學,從而促進香港和內地的人才流動,助推粵港澳大灣區經濟融合。業界一些朋友看了此文,頗感興趣,致電商討。一位朋友特別前來香港大學,跟筆者探討教育和人才問題。寒暄幾句後,他便單刀直入:「你提出的觀點,無非是把香港當作內地人才加工的基地,然後走內銷的道路。這對你們搞教育的當然是一盤好生意,但對香港又有什麼『着數』呢?」此問乍聽突兀,細想卻值得思辨一番。
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Does Socially Responsible Investing Change Firm Behavior?
In recent years, the appeal of socially responsible investing (SRI) has grown significantly…
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Does Liquidity Management Induce Fragility in Treasury Prices? Evidence from Bond Mutual Funds
Mutual funds investing in illiquid corporate bonds actively manage Treasury positions to buffer…
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Does External Monitoring from Government Improve the Performance of State-Owned Enterprises?
Dr Hongsong Zhang of HKU Business School and Dr Shengyu Li of University…
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Hong Kong Retail Gasoline Net Profit Margin Surges 6‑Fold Over Two Decades
The Boom in AI Trade Underscores Hong Kong’s Role as a Global Hub
DELTA+T²: When Trust Replaces Analytics as the Defining Bottleneck in the AI Era
Financial Inclusion: Pros and Cons of Traditional Commercial Banks’ Adoption of Fintech and Digitalization
What AI Generated Content Do We Actually Need?
Trip.com’s Landmark Fine: A Milestone in China’s Antitrust Enforcement?
The Challenges and Potential of Bank-Issued Stablecoins
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