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Article
Publication date: 17 April 2020

Lok Sang Ho

The purpose of this paper is to explain the nature of the Greater Bay Area Plan and to refute various myths about the initiative. The economic vigor of the Greater Bay Area is…

Abstract

Purpose

The purpose of this paper is to explain the nature of the Greater Bay Area Plan and to refute various myths about the initiative. The economic vigor of the Greater Bay Area is based on agglomeration economies from the city cluster and on the access to important ports. The Plan aims at motivating policy makers at different levels to work together to create new possibilities.

Design/methodology/approach

This is based on policy analysis informed by economic theory and evidence.

Findings

The Greater Bay Area Plan enhances the freedoms enjoyed by people living in any of the 11 cities in the area. Its design and the roles assigned to the different cities in the Outline Plan shows that it does not go against market forces but instead works with them. The impediments caused by the three custom areas, three currencies and different legal systems make it imperative for policy makers in the different cities and other levels of government to work together to remove or at least alleviate the impediments.

Originality/value

It dispels the myths that have prevailed since the Outline Plan was released in February 2019 and identifies how it can increase freedoms and manifest the potential of the Greater Bay Area.

Details

Asian Education and Development Studies, vol. 9 no. 3
Type: Research Article
ISSN: 2046-3162

Keywords

Article
Publication date: 4 August 2020

Lok Sang Ho

Abstract

Details

Asian Education and Development Studies, vol. 9 no. 3
Type: Research Article
ISSN: 2046-3162

Article
Publication date: 2 January 2020

Lok Sang Ho and Gary Wai Chung Wong

The purpose of this paper is threefold: to study if Hong Kong’s fiscal revenue is closely related to land rent; to assess if a fiscal regime relying on taxing land rent is good…

Abstract

Purpose

The purpose of this paper is threefold: to study if Hong Kong’s fiscal revenue is closely related to land rent; to assess if a fiscal regime relying on taxing land rent is good for the economy; and to explore if Hong Kong adopts a high land price policy.

Design/methodology/approach

In this paper, first, theoretical and conceptual exploration into the Henry George Theorem is made to investigate if a single tax regime is conceptually feasible. Second, time series econometric study investigates into the determinants of Hong Kong’s fiscal revenue and Hong Kong’s public expenditures. Granger causality tests are conducted to study the direction of causality.

Findings

Hong Kong does not have a high land price policy; it uses a multipronged approach to tax land rent, which cannot be precisely identified; its low tax regime is good for the economy and contributes to a virtuous circle: taxing land rent, low taxes, vigorous economy, higher land rent and low taxes.

Originality/value

This study uses a familiar methodology on a subject on a policy area that has not been studied before.

Details

Asian Education and Development Studies, vol. 9 no. 4
Type: Research Article
ISSN: 2046-3162

Keywords

Article
Publication date: 1 May 1988

Lok Sang Ho

The US federal deficit has, over the years, remained a subject of widespread concern and controversy. Diverse views continue to be expressed on such questions as whether the…

Abstract

The US federal deficit has, over the years, remained a subject of widespread concern and controversy. Diverse views continue to be expressed on such questions as whether the deficit matters, whether it is the inflation‐adjusted deficit that matters, whether bond‐financed deficits are inflationary, and whether it is only deficits that are financed by money creation which are inflationary. Against this background, few would disagree with Boskin (1982) that “progress in improving our understanding of the role of the budget deficit in economic behavior and performance… is an urgent research priority”.

Details

Journal of Economic Studies, vol. 15 no. 5
Type: Research Article
ISSN: 0144-3585

Article
Publication date: 1 July 2000

Lok Sang Ho

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…

4460

Abstract

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 themselves are also subject to revision by the “policy coordination centre.” Throughout this iterative process, public policy analysts will have done a great service if they can lay bare the trade‐off among conflicting policy goals and the relationship between policy choice parameters and policy target variables.

Details

International Journal of Social Economics, vol. 27 no. 7/8/9/10
Type: Research Article
ISSN: 0306-8293

Keywords

Content available
Book part
Publication date: 28 February 2007

Abstract

Details

Population Change, Labor Markets and Sustainable Growth: Towards a New Economic Paradigm
Type: Book
ISBN: 978-0-44453-051-6

Abstract

Details

Population Change, Labor Markets and Sustainable Growth: Towards a New Economic Paradigm
Type: Book
ISBN: 978-0-44453-051-6

Article
Publication date: 3 March 2020

Jean A. Berlie

This article looks at the differences and similarities between globalization and the role of China on globalization, in particular for the Hong Kong Special Administrative Region…

Abstract

Purpose

This article looks at the differences and similarities between globalization and the role of China on globalization, in particular for the Hong Kong Special Administrative Region of China (HKSAR).

Design/methodology/approach

This article is based on research, reading, and interviews on globalization.

Findings

China is promoting the new globalization of the century called Belt and Road Initiative (BRI) which is a unique way to boost again the economy of China.

Originality/value

Studies of the New Maritime and Land Silk Road of China are rare; in particular, the role of the HKSAR is ignored. Macau also plays a role because it was the first point of globalization in the seventeenth century. China is really a global country, and the Chinese are numerous in all continents. Chinese Internet role is also mentioned.

Globalization is a key concept not only for China and Asia but also for the Hong Kong Special Administrative Region (HKSAR), Africa, and countries in Latin America such as Bolivia and Venezuela. This article looks at the differences and similarities between globalization and the role of China on globalization. The HKSAR and the Greater Bay Area are part of the same country. China is developing the new globalization of the century called, in 2017, the Belt and Road Initiative (BRI). The current definition of Chinese globalization includes land and maritime Silk Road, now the BRI.

Details

Asian Education and Development Studies, vol. 9 no. 2
Type: Research Article
ISSN: 2046-3162

Keywords

Article
Publication date: 8 October 2019

Man-Kong Chow, Jingbo Hua and Wing-Lok Hung

The purpose of this paper is to discuss the necessity of tertiary education in promoting innovations of the Guangdong-Hong Kong-Macau Greater Bay Area by using cases from other…

Abstract

Purpose

The purpose of this paper is to discuss the necessity of tertiary education in promoting innovations of the Guangdong-Hong Kong-Macau Greater Bay Area by using cases from other well-developed bay areas.

Design/methodology/approach

The paper used cases from bay areas of the USA and Japan to discover approaches that have been used to strengthen collaborations between tertiary education and industries by innovations.

Findings

This paper found that bay areas in the USA and Japan have adopted or developed various approaches to enhancing collaborations between tertiary education and industries. In the San Francisco Bay Area, the well-established knowledge transfer offices in universities help scholars to discover the commercial value of academic findings and help business in reverse. In New York Bay Area, big corporations built research institutes for universities with considerable findings. In Tokyo Bay Area, corporations and universities have developed various internship programs for different levels of students and also provide funds for universities to conduct research works.

Originality/value

This paper analysed approaches that using by other well-developed bay areas through real cases, and suggested that the Guangdong-Hong Kong-Macau Greater Bay Area should adopt these experiences in order to strengthen collaborations between tertiary education and industries to promote innovations.

Details

Asian Education and Development Studies, vol. 9 no. 3
Type: Research Article
ISSN: 2046-3162

Keywords

Article
Publication date: 13 December 2019

Justin Yifu Lin

Development economics is a new sub-discipline in modern economics. The first generation of development economics is structuralism. The second generation of development economics…

Abstract

Purpose

Development economics is a new sub-discipline in modern economics. The first generation of development economics is structuralism. The second generation of development economics is neoliberalism. Most developing countries followed the above two generations of development economics and failed to achieve industrialization and modernization. The purpose of this paper is to introduce the third generation of development economics, called new structural economics, which advises governments in developing countries to play a facilitating role in the development of industries in a market economy according to the country’s comparative advantages. The paper also discusses how the government may use industrial policies to play this facilitating role and some new theoretical insights from new structural economics.

Design/methodology/approach

The paper draws on the experiences of success and failure in developing countries to generate new understanding about the nature and causes of economic development in developing countries.

Findings

The structuralism failed because it ignored the endogeneity of economic structure in a country. The neoliberalism failed because it neglected the endogeneity of distortions in the transition economies.

Originality/value

The paper proposes new policy and theoretical framework for developing countries.

Details

Asian Education and Development Studies, vol. 9 no. 3
Type: Research Article
ISSN: 2046-3162

Keywords

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