Quantifying the Impact of the November 2014 Shanghai-Hong Kong Stock Connect

Pierre Siklos Richard C. K. Burdekin ()
Additional contact information
Pierre Siklos Richard C. K. Burdekin: Wilfrid Laurier University
Authors registered in the RePEc Author Service: Richard C. K. Burdekin and Pierre Siklos

LCERPA Working Papers from Laurier Centre for Economic Research and Policy Analysis

Abstract: The November 2014 Shanghai-Hong Kong Stock Connect represented an important step in China’s capital account liberalization, allowing relatively free movement of investor funds between the two markets for the first time. We offer a quantification of the effects of the new program, examining Northbound and Southbound flows of funds over the first two years of the Stock Connect. While controlling for other sentiment and liquidity effects, we test how these flows may have affected the extent of the premium seen for local A-share listings in Shanghai relative to the prices accruing to the same companies in Hong Kong market trading.

Keywords: Capital account liberalization; Stock returns; Sentiment; Shanghai; Hong Kong (search for similar items in EconPapers)
JEL-codes: G15 (search for similar items in EconPapers)
Date: 2018-01-30, Revised 2018-01-30
New Economics Papers: this item is included in nep-fmk and nep-sea
Note: LCERPA Working Paper No. 2018-4, January 2018.
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (27)

Downloads: (external link)
http://www.lcerpa.org/public/papers/LCERPA_2018_4.pdf

Related works:
Journal Article: Quantifying the impact of the November 2014 Shanghai-Hong Kong Stock Connect (2018)
Working Paper: Quantifying the impact of the November 2014 Shanghai-Hong Kong stock connect (2018)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wlu:lcerpa:0110

Access Statistics for this paper

More papers in LCERPA Working Papers from Laurier Centre for Economic Research and Policy Analysis Contact information at EDIRC.
Bibliographic data for series maintained by Glen Stewart ( this e-mail address is bad, please contact ).