Impact of CEPA on the labor market of Hong Kong |
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| Authors: | Steve Ching Cheng Hsiao Shui Ki Wan |
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| Institution: | 1. The City University of Hong Kong, Hong Kong;2. University of Southern California, United States;3. WISE, Xiamen University, China;4. Hong Kong Baptist University, Hong Kong |
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| Abstract: | A panel data method is used to evaluate the impact of the Closer Economic Partnership Agreement (CEPA) signed between Mainland China and Hong Kong. Using the time series data of Hong Kong, Austria, Denmark, Finland, France, Germany, Italy, Japan, Korea, Netherlands, Norway, Singapore, Taiwan, U.K., and U.S. to construct what would have happened to Hong Kong's unemployment rate had there been no CEPA, we find that the CEPA effects gradually increases over time and eventually reached a constant level of reducing Hong Kong's unemployment rate by 9% a year. |
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