This paper investigates the impact of microcredit on rural households. The impact of a microcredit program on target households is subject to two main sources of bias, observed and unobserved bias. To evaluate the microcredit ...

This study tests the presence of rational speculative bubbles in the Hong Kong stock market over a sample period from 1993-2008 using the duration dependence test. The duration dependence test shows no evidence of duration ...

We employ low-frequency data to estimate historical volatility measures for Hong Kong stocks and examine the relationship between these measures and the one-month ahead stock return over thirty-five years. First, we employ ...