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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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The Survival Guide for All in the Post AI-Era – From Individual Planning to Corporate Strategy
From Anti-Dumping to Trade Wars: Past, Present, and Future of Trade Policy and Disputes
With AI boosting productivity, what’s still holding companies back?
Review Manipulation and Filtering on Digital Platforms
Higher Baselines, Unbounded Ceilings: Four Forces Driving AI’s Great Divergence
Multinational production and global shock propagation during the Great Recession
AI adoption and human value within organizations
How the Age of AI Scams Is Reshaping Digital Trust
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