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The Closer Economic Partnership Arrangement (CEPA) and its impacts on the export efficiency of Hong Kong and Macao
Henry Chun Kwok Lei
2017
Source PublicationJOURNAL OF CHINESE ECONOMIC AND BUSINESS STUDIES
ISSN1476-5284
Volume15Issue:2Pages:141-163
Abstract

The Closer Economic Partnership Arrangement (CEPA) is a bilateral preferential agreement signed among China, Hong Kong, and Macao which opens up the China market by providing zero tariff after accession. This paper sheds light to the impacts of the CEPA on merchandise trade with an in-depth analysis on export efficiency. Despite that merchandise trade has already been fully liberalized, the estimation results indicate that the efficiency of exports to China has been on the decline since 2000. This implies that the actual value of exports to China has departed from its full potential, and confirms our suspicions on the incapability of the CEPA to boost the exports of Hong Kong and Macao to China. There is also no evidence to support that the CEPA has successfully attracted foreign investment to Hong Kong and Macao for tariff free exports to China.

KeywordCloser Economic Partnership Arrangement Gravity Model Stochastic Frontier Approach Trade Efficiency
DOIhttps://doi.org/10.1080/14765284.2017.1281082
Indexed By其他
Language英语
WOS Research AreaBusiness & Economics
WOS SubjectEconomics
WOS IDWOS:000405864700003
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Citation statistics
Cited Times [WOS]:1   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionFaculty of Business Administration
DEPARTMENT OF FINANCE AND BUSINESS ECONOMICS
Corresponding AuthorHenry Chun Kwok Lei
AffiliationFaculty of Business Administration, Department of Finance and Business Economics, University of Macao, Macao, China
First Author AffilicationFaculty of Business Administration
Corresponding Author AffilicationFaculty of Business Administration
Recommended Citation
GB/T 7714
Henry Chun Kwok Lei. The Closer Economic Partnership Arrangement (CEPA) and its impacts on the export efficiency of Hong Kong and Macao[J]. JOURNAL OF CHINESE ECONOMIC AND BUSINESS STUDIES,2017,15(2):141-163.
APA Henry Chun Kwok Lei.(2017).The Closer Economic Partnership Arrangement (CEPA) and its impacts on the export efficiency of Hong Kong and Macao.JOURNAL OF CHINESE ECONOMIC AND BUSINESS STUDIES,15(2),141-163.
MLA Henry Chun Kwok Lei."The Closer Economic Partnership Arrangement (CEPA) and its impacts on the export efficiency of Hong Kong and Macao".JOURNAL OF CHINESE ECONOMIC AND BUSINESS STUDIES 15.2(2017):141-163.
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