Pacific Economic Review

Cover image for Vol. 20 Issue 5

Edited By: Yin-Wong Cheung

Impact Factor: 0.515

ISI Journal Citation Reports © Ranking: 2014: 236/333 (Economics)

Online ISSN: 1468-0106

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Pacific Economic Review virtual issue on China's currency and economy

Pacific Economic Review top articles

Read the top Pacific Economic Review articles online:

Renminbising China's Foreign Assets
Yin-Wong Cheung, Guonan Ma and Robert N. McCauley

Empirics of China's outward direct investment
Yin-Wong Cheung and Xingwang Qian

Cross-Country Causes and Consequences of the 2008 Crisis: International Linkages and American Exposure
Andrew K. Rose and Mark M. Spiegel

Rising Wages: Has China Lost Its Global Labor Advantage?
Dennis Tao Yang, Vivian Weijia Chen and Ryan Monarch

New estimation of China's exchange rate regime
Jeffrey A. Frankel

Pacific Economic Review virtual issue on the crisis, contagion and economic linkages

News and announcements

Winner of 2015 Best Paper Award of Pacific Economic Review
“Aggregate Labour Market Dynamics in Hong Kong” (Pacific Economic Review, 17 (2), 257-279) by Thomas Lubik (Federal Reserve Bank of Richmond).

About the Best Paper Award of Pacific Economic Review
All published papers are eligible for the newly established annual Best Paper Award, funded by the Hong Kong Economic Association (HKEA). The winner will receive a prize of US$1,000. Each year, the Editorial Board will select the best paper published in PER based on scholarship and citation of the paper in the two years preceding the award.

Pacific Economic Review call for papers

The general theory of second best published by Richard Lipsey and Kelvin Lancaster in 1956 raised a serious dilemma for economic policy formulation that has not been resolved even today. With the 60 anniversary approaching, the Pacific Economic Review plans to publish a special issue under the theme “Theories of second best and third best and their application”. The guest editors of this special issue are Professor Richard Lipsey (Simon Fraser University ) and Professor Yew-Kwang Ng (Nanyang Technological University, who published a paper on the theory of third best in 1977). Interested authors should send their submissions by email, with the subject title of “Pacific Economic Review: Special Issue on Theories of Second Best and Third Best and their Application,” to:

Yew-Kwang Ng
Albert Winsemius Chair Professor
Nanyang Technological University

Submitted papers must be original academic work that have not been published or under review anywhere. Please submit two separate pdf files: One with the title page that includes the title, authors' names and affiliations, abstract, corresponding address/emails, and the other one with the title page that contains only the title and abstract. The submission deadline is March 31, 2016.

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Author Guidelines

Author Guidelines

The degree of synchronization of Asian business cycles with the rest of the world has garnered much attention with the continent's increased trade integration over recent decades. However, the empirical evidence on Asian synchronization with the rest of the world has been mixed, with some papers finding that Asian nations are becoming more regionally integrated and less integrated with nations outside of Asia. The relatively robust recovery of Asian nations following the global financial crisis has only reinforced opinions that Asian synchronization with the rest of the world is not guaranteed.

The papers in this issue examine the topic of Asian business cycle synchronization from four different angles. You can read the latest research into this fascinating topic online now:

Introduction: Asian Business Cycle Synchronization with the Global Economy
Mark M. Spiegel

Asia's Decoupling: Fact, Fairytale or Forecast?
Lillie Lam and James Yetman

Is Asia Decoupling from the United States (Again)?
Sylvain Leduc and Mark M. Spiegel

From the Global to the National Cycle: An Intricate Liaison
M. Ayhan Kose, Prakash Loungani and Marco E. Terrones

Capital Market Openness and Output Volatility
Kwang-Myoung Hwang, Donghyun Park and Kwanho Shin