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- 저자 : Baiding Hu (검색결과 3 건)
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Exchange rate puzzle in New Zealand: New evidence
Baiding Hu,Yingjie Lin,Paul Dalziel 한양대학교 경제연구소 2019 JOURNAL OF ECONOMIC RESEARCH Vol.24 No.2
This paper adopts an event-study approach that utilises a combinationof the asset pricing model of the exchange rate due to Engel and West(2010) and a state space model to examine the impact of monetarypolicy shocks on the change of the New Zealand exchange rate. Wefind evidence to support the “exchange rate puzzle” (ERP) originallycoined by Grilli and Roubini (1995). The ERP in the New Zealandcontext was also found in Wilkinson et al. (2001). Using newer data,the present study is able to account for the role of the recent globalfinancial crisis (GFC) in influencing the nexus between the exchangerate and interest rate. It is found that the GFC had a mediating effecton the ERP, showing the exchange rate responded asymmetrically tomonetary policy shocks.
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Government Domestic Debt, Private Sector Credit, and Crowding Out Effect in Oil-Dependent Countries
( Anthony Anyanwu ),( Christopher Gan ),( Baiding Hu ) 한양대학교 경제연구소 2017 JOURNAL OF ECONOMIC RESEARCH Vol.22 No.2
Banks are more liquid, better capitalised, and more profitable in oil-dependent countries. However, bank credit to the private sector is relatively low as a percentage of GDP. The low level has been blamed, amongst other reasons, on governments` reliance on the banking sector to finance fiscal deficits. This study examines the crowding out effect of government domestic borrowing using a panel data model for 28 oil-dependent countries over the period 1990-2012. We estimate the model, using both fixed effects and generalised method of moments estimators and find that a one percent increase in government borrowing from domestic banks significantly decreases private sector credit by 0.22 percent and has no significant impact on the lending rate banks charge to the private sector. This finding suggests that government domestic borrowing has resulted in the shrinking of private credit and works through the credit channel and not the interest rate channel.
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Farmers’ perception of and adaptation to climate change: An Investigation in Northeast Vietnam
Ha Thi Thuy Nong,Christopher Gan,Baiding Hu 중앙대학교 경제연구소 2021 Journal of Economic Development Vol.46 No.4
This study investigates farmers’ perception of and adaptation to climate change in Thai Nguyen province in the Northeast region of Vietnam. Using a structured survey questionnaire, personal interviews were conducted with 534 farmers in the study province. A multivariate probit model was utilized to examine factors affecting farmers’ choices of adaptation to climate change. The results show that climate change has threatened farmers’ livelihood and agricultural cultivation. Gender, education, farming experience, land, perceived temperature, perceived precipitation, income source, climate information, agricultural training, membership and credit access significantly affect farmers’ choices of different adaptation methods. The results suggest that government should integrate climate change adaptation activities into local development plans. In addition, climate information, agricultural training, and community-based networks should be made available and accessible to all farmers.
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