Category Archives: Public Economics
The Power of Exit
This might appear weird to you at first sight. People usually speak of “the power of entry” or “limited entry” in monopoly industries. And we know that the power of entry can give existing players exorbitant profits. The power of exit, however, seems to be rather counterfactual: Why do you need a power to exit? What does it apply …
Interesting points about Hong Kong’s Financial Budget 2012-2013
The 2012-2013 Hong Kong financial budget was announced on Feb 1. A series of functions have been held on HKU campus to discuss this. Last year, the Hong Kong government distributed a HKD 6,000 free money to all permanent citizens and stirred up fierce debates. This year, some citizens naturally hope the government to distribute more …
China’s railway system faces financing difficulties
A recent WSJ report says that many of China’s railway projects face insufficiency of funds. Major projects in Guangdong, Guizhou, Fujian, to name a few, are forced to a halt. Senior engineer Wang Mengshu at China Railway Tunnel Group said that the lack in funding was caused by two factors: a tighter fiscal policy to tame the …
Hong Kong Pre-Primary School Voucher System
maryandmusic ♦ April 3, 2012 ♦ Leave a Comment
This is an excerpt from my paper commenting the Hong Kong Financial Budget for 2012-2013, delivered by Mr. John Tsang on Feb 1, 2012. The Hong Kong government has launched the Pre-primary Education Voucher Scheme (PEVS) since 2007/08 school year. The voucher can only be redeemed by local Non Profit-Making (NPM) kindergartens (KGs) charging an …
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