Biography

Dr. Yip is now teaching Money and Banking, China and the World Economy (Economics) and China and Global Economy (Business) at the Economics Department of the Chinese University of Hong Kong (CUHK). Before joining the CUHK, he was an Associate Professor in Economics at the Nanyang Technological University (NTU), and an Economic and Investment Consultant of a listed company in Singapore. He also gained extensive central banking, financial and commercial banking experiences through senior appointments at the Hong Kong Monetary Authority, the Bank of China (Hong Kong), and the Bank of East Asia.

Dr. Yip has published papers in high-ranking economic, finance and management journals such as the Academy of Management Journal, Journal of Banking and Finance, International Journal of Finance and Economics, International Business Review, and International Review of Economics and Finance. He has also written important books on China’s Exchange System Reform, the Exchange Rate Systems in Singapore and Hong Kong, as well as a book and some policy journal papers on the Global Financial Crisis, Quantitative Easing, the latest Asian Property Bubbles, and Major Characteristics of Asset Bubbles and Financial Crises.

He has made significant policy contributions, through numerous policy recommendations to Chinese leaders as well as hundreds of in-depth policy proposals in major newspapers in Hong Kong, Singapore and China over the past 25 years. In particular, as shown in the attached list of his major policy contributions, he is (1) the original proponent of China’s exchange rate system reform in 2005-07, (2) a leading expert on Hong Kong’s linked exchange rate system, (3) a leading expert on Singapore’s exchange rate system and exchange rate policy; (4) the one who convinced the Singapore Government to gradually extend Singapore’s retirement age from 55 to 65; (5) an expert on the characteristics of property bubbles, stock market bubbles and financial crises; and (6) an expert on the market structure problem of the property markets and housing policies in Hong Kong, China and Singapore.

Research

• (Journal Paper) Yip S.L., Tse Y.K. and Dong Y.J., 2023, The Exchange Rate System Reform in China: Some Important Results, Singapore Economic Review, forthcoming.
• (Journal Paper) Yip S.L., Tse Y.K. and Dong Y.J., 2023, The Exchange Rate System Reform in China: Some Important Results, Singapore Economic Review, forthcoming.
• (A2 Journal Paper) Yan F.L. and Yip S.L., 2021, Nonlinear Adjustment of Exchange Rate and Exchange Rate Policy: Lessons from Singapore, International Journal of Finance and Economics, Vol 26, No. 1, pp.171-84.3.
• (Book) Yip Paul S. L., 2019, From the Global Financial Tsunami to the Property Bubbles in Asia: Lessons for Macroeconomic Policy Management, World Scientific: Singapore.
• (Policy Paper in an Open Access Journal) Yip Paul S.L., 2018, Some Important Characteristics of Asset Bubbles and Financial Crises, Modern Economy, Vol. 9, pp.1137-68.
• (Journal Paper) Yip Paul S.L., 2016, China’s Exchange Rate System Reform: Two Potential Mistakes and the Recommended Long-Term System, Singapore Economic Review, Vol. 61, No. 2, 1640025, pp.1-40.
• (Journal Paper) Yip Paul S.L., 2014, The Risk of Property Bubbles in Hong Kong and Singapore: Another Aftershock Crisis of the Global Financial Tsunami, Singapore Economic Review, Vol. 59, No. 3, 1450026, pp.1-53.
• (Book) Yip Paul S. L., 2011, China’s Exchange Rate System Reform: Lessons for Macroeconomic Policy Management, World Scientific: Singapore.
• (Journal Paper) Tsang Eric W.K., Yip Paul S.L., 2009, Competition, Agglomeration, and Performance in Beijing Hotels, Service Industries Journal, Vol. 29, No. 2, pp.155-171.
• (A2 Journal Paper) Tsang Eric W.K., Yip Paul S.L., Toh Mun Heng 2008, The impact of R&D on Value Added for Domestic and Foreign Firms in a Newly Industrialized Economy, International Business Review, Vol. 17, No. 4, pp.423-441.
• (Journal Paper) Yip Paul S.L., Tan K.C., 2008, Impacts of Ageing Population on Monetary and Exchange Rate Management in Singapore, Singapore Economic Review, Vol. 53, No. 2, pp.245-259.
• (Book) Yip Paul S. L., 2008, The Exchange Rate Systems and Policies in Asia, World Scientific: Singapore.
• (A* Journal Paper) Tsang Eric W.K., Yip Paul S.L., 2007, Economic Distance and Survival of Foreign Direct Investments, Academy of Management Journal, Vol. 50, No. 5, pp.1156-1168.
• (Journal Paper) Yip Paul S.L., 2007, China’s Exchange Rate System Reform, Singapore Economic Review, Vol. 52, No. 3, pp. 363-402.
• (Editorial Overview) Yip Paul S.L., 2007, Editorial Overview: Important Lessons from Some Major Exchange Rate and Monetary Experiences in Asia, Singapore Economic Review, Vol. 52, No. 3, pp. 269-283.
• (B Journal Paper) Yip Paul S.L., Tsang Eric W.K., 2007, Interpreting Dummy Variables and Their Interaction Effects in Strategic Research, Strategic Organization, Vol. 5, No. 1, pp.13-30.
• (Journal Paper) Yip Paul S.L., Yao S.T., 2006, Removing Foreign Direct Investment’s Exchange Rate Risk in Developing Economies, International Review of Economics and Finance, Vol. 15, No. 3, pp 294-315.
• (Journal Paper) Tse Y.K., Yip Paul S.L., 2006, Exchange Rate Systems and Interest Rate Behaviour: The Experience of Hong Kong and Singapore, International Review of Economics and Finance, Vol. 15, No.2, pp 212-227.
• (Journal Paper) Yip Paul S.L., 2005, On the Maintenance Costs and Exit Costs of the Peg in Hong Kong, Review of Pacific Basin Financial Markets and Policies, Vol. 8, No. 3, pp 377-403.
• (Book) Yip Paul S. L., 2005, The Exchange Rate Systems in Hong Kong and Singapore: Currency Board vs Monitoring Band, Prentice Hall: Singapore.
• (Book Chapter) Yip Paul S. L., 2004, The Debt Market, in Ho S.M. (ed) The Hong Kong Financial System, Second Edition, Oxford University Press, pp 205-221.21.
• (A1 Journal Paper) Tse Y.K., Yip Paul S.L., 2003, The Impacts of Hong Kong’s Currency Board Reforms on the Interbank Market, Journal of Banking and Finance, Vol. 27, No. 12, pp 2273-2296.
• (Journal Paper) Yip Paul S.L., 2003, A Restatement of Singapore’s Monetary and Exchange Rate Policies, Singapore Economic Review (Singapore), Vol. 48, No. 2, pp 201-212. [Also presented as a seminar paper in the Monetary Authority of Singapore.]
• (Journal Paper) Yip Paul S.L., Wang R.F., 2002, Is Price in Hong Kong That Flexible? Evidence from the Export Sector, Asian Economic Journal, Vol. 16, No. 2, pp 193-208.
• (Journal Paper) Yip Paul S.L., 2002, A Note on Singapore’s Exchange Rate Policy: Empirical Foundations, Past Performance and Outlook, Singapore Economic Review, Vol. 47, No. 1, pp 173-182.
• (Journal Paper) Yip Paul S.L., Wang R.F., 2001, On the Neutrality of Exchange Rate Policy in Singapore, ASEAN Economic Bulletin (Singapore), Vol. 18, No. 2, pp 251-262.
• (Journal Paper) Yip Paul S.L., 1999, The Speculative Attack in Hong Kong Amid the Asian Financial Crisis, Asian Pacific Journal of Finance (Singapore), Vol. 2, No. 1, pp 79-92. [Extended from an anti-crisis proposal against the speculative attack and interest rate hike in Hong Kong in 1997-98.]
• (Journal Paper) Driver, D., Yip Paul S.L., Dakhil, N., 1996, Large Company Capital Formation and Effects of Share Turbulence: Micro-data Evidence from the PIMS Data Base, Applied Economics, Vol. 28, No. 6, pp 641-651.
• (Journal Paper) Yip Paul S.L., Yeo H.H., Tan T.M., Tan C.H., 1996, The Asian Consumer Durable Market: With Special Reference to China, ASEAN Economic Bulletin (Singapore), Vol. 12, No. 3, pp 380-396.
• (Book Chapter) Yip Paul S. L., 1996, Exchange Rate Management in Singapore, in Lim C.Y. (ed) Economic Policy Management in Singapore, Addison-Wesley, pp 237-252.

Courses Taught