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Dr Zhichao Zhang's Outputs (31)

A new perspective on financial anomalies in emerging markets: the case of China (2008)
Journal Article
Zhang, Z. (2008). A new perspective on financial anomalies in emerging markets: the case of China. Applied financial economics, 18(21), 1681-1695. https://doi.org/10.1080/09603100701735946

Financial anomalies in emerging markets can be caused by very different reasons than that in mature markets. In a Generalized Autoregressive Conditional Heteroskedasticity (GARCH) model, we examine financial anomalies in emerging markets from a new p... Read More about A new perspective on financial anomalies in emerging markets: the case of China.

Exchange rate reform and its inflationary consequences: an empirical analysis for China (2003)
Journal Article
Lu, M., & Zhang, Z. (2003). Exchange rate reform and its inflationary consequences: an empirical analysis for China. Applied Economics, 35(2), 189-199. https://doi.org/10.1080/0003684022000017575

In examining China's exchange rate policy in the reforming years, the study finds empirical evidence of its long-run inflationary consequences, but the effects appear not to be sizable. In the short run, while changes in the devaluation rate are posi... Read More about Exchange rate reform and its inflationary consequences: an empirical analysis for China.

China’s Foreign Exchange Policy in a Time of Change. (2002)
Book Chapter
Zhang, Z. (2002). China’s Foreign Exchange Policy in a Time of Change. In P. Preston, & H. Jurgen (Eds.), Contemporary China: The Dynamics of Change at the Start of the New Millennium. RoutledgeCurzon

Real exchange rate behaviour under Hong Kong's linked exchange rate system: An empirical investigation (2002)
Journal Article
Zhang, Z. (2002). Real exchange rate behaviour under Hong Kong's linked exchange rate system: An empirical investigation. International Journal of Theoretical and Applied Finance, 5(1), 55-78. https://doi.org/10.1142/s0219024902001341

In a behavioural equilibrium exchange rate model, this study investigates the movements of the real exchange rate of the Hong Kong dollar under the currency board arrangement from 1984 to 1998. Cointegration analysis based on Johansen approach is app... Read More about Real exchange rate behaviour under Hong Kong's linked exchange rate system: An empirical investigation.

Choosing an exchange rate regime during economic transition: the case of China (2001)
Journal Article
Zhang, Z. (2001). Choosing an exchange rate regime during economic transition: the case of China. China Economic Review, 12(2-3), 203-226. https://doi.org/10.1016/s1043-951x%2801%2900051-7

The choice of an appropriate exchange rate regime during economic transition is investigated through the case of China's 1994 reform programme. Within a game-theoretic framework, the paper compares welfare under alternative policy regimes. While not... Read More about Choosing an exchange rate regime during economic transition: the case of China.

Real exchange rate misalignment in China: An empirical investigation (2001)
Journal Article
Zhang, Z. (2001). Real exchange rate misalignment in China: An empirical investigation. Journal of Comparative Economics, 29(1), 80-94. https://doi.org/10.1006/jcec.2000.1705

Based on the theory of equilibrium real exchange rate, this paper estimates the behavioral equilibrium exchange rate and the resulting misalignment in China. Evidence shows chronic overvaluation in China's central planning period, but economic reform... Read More about Real exchange rate misalignment in China: An empirical investigation.

China's exchange rate reform and exports (2001)
Journal Article
Zhang, Z. (2001). China's exchange rate reform and exports. Economics of planning, 34(1-2), 89-112. https://doi.org/10.1023/a%3A1017549828555

The paper argues that exchange rate reform is a vital supply-side factor in China's export growth. It contributes to China's export expansion by affording a realistic exchange rate and allowing freer access to foreign exchange, thereby leading to the... Read More about China's exchange rate reform and exports.