Professor Emeritus
Francis T LUI
Professor Emeritus Adjunct Professor
fnfntlui@ust.hk
Francis T LUI

Research Interests

  • Economic growth
  • Social security
  • Corruption
  • Chinese economy
  • Macroeconomics
  • Hong Kong's economy
  • Pupulation

Academic Qualification

  • PhD University of Minnesota, Economics
  • B.A. University of Chicago, Economics

Selected Professional Activities

  • Member of the American Economic Association, Econometric Society, Conference on Research in Income and Wealth of the National Bureau of Economic Research, Chinese Economists Society, Chinese Economic Association in North America, and Executive Committee of the Hong Kong Economic Association (1994-1997).
  • Associate Editor, Journal of Human Capital (University of Chicago Press)
  • Editorial Board, China and the World Observer (Tsinghua University)
  • Editorial Advisor, Journal of Developing Areas

Publications

Selected Articles
  • Cagan’s Hypothesis and the First Nationwide Inflation of Paper Money in World History, Journal of Political Economy, vol. 91, number 6, 1983, pp. 1067-1074 (also collected in Major Inflations in History, edited by Forrest H. Capie, Cheltenham, U.K.: Edward Elgar Publishing Ltd., 1991).
  • An Equilibrium Queuing Model of Bribery, Journal of Political Economy, vol. 93, number 4, 1985, pp. 760-781 (also collected in The Economics of Corruption and Illegal Markets, International Library of Critical Writings in Economics, edited by Gianluca Fiorentini and Stefano Zamagni, Cheltenham, U.K.: Edward Elgar Publishing Ltd., 1999).
  • A Dynamic Model of Corruption Deterrence, Journal of Public Economics, vol. 31, number 2, 1986. pp. 215-236 (also collected in The Economics of Corruption and Illegal Markets, International Library of Critical Writings in Economics, edited by Gianluca Fiorentini and Stefano Zamagni, Cheltenham, U.K.: Edward Elgar Publishing Ltd., 1999).
  • Corruption, Economic Growth and the 1989 Crisis of China, in The 1989 Crisis of China, edited by Roger DesForges et al, University at Buffalo Press, 1990.
  • Intergenerational Trade, Longevity, and Economic Growth (with Isaac Ehrlich), Journal of Political Economy, vol. 99, number 5, 1991, pp. 1029-1060.
  • Three Aspects of Corruption, Contemporary Economic Policy, vol. 14, number 3, July 1996.
  • The Problem of Population and Growth: A Review of the Literature from Malthus to Contemporary Models of Endogenous Population and Endogenous Growth (with Isaac Ehrlich),Journal of Economic Dynamics and Control, vol. 21, number 1, January 1997, pp. 205-242; Spanish translation appears in Cuadernos Economicos De Ice, number 58, 1994/3.
  • Social Security, the Family, and Economic Growth (with Isaac Ehrlich), Economic Inquiry, vol. 36, number 3, July 1998, pp. 390-409.
  • Bureaucratic Corruption and Endogenous Economic Growth (with Isaac Ehrlich), Journal of Political Economy, vol. 107, number 6, part 2, December 1999, p. S270-S294 ((also collected inThe Economics of Crime, International Library of Critical Writings in Economics, edited by Isaac Ehrlich and Zhiqiang Liu, Cheltenham, U.K.: Edward Elgar Publishing Ltd., 2006).
  • Deregulation, Profit, and Cost in Commercial Banking: The Case of Hong Kong (with Yum K. Kwan), Chapter 10, p. 305-324, in Deregulation and Interdependence in the Asia-Pacific Region(NBER-East Asia Seminar on Economics, volume 8), edited by Takatoshi Ito and Anne O. Krueger, 2000, Chicago: University of Chicago Press.
  • Credibility of Currency Boards Under Attacks: The Role of Institutional Arrangements (with Yum K. Kwan and Leonard K. Cheng), Chapter 7, p. 233-262, in Regional and Global Capital Flows: Macroeconomic Causes and Consequences (NBER- East Asia Seminar on Economics, vol. 10), edited by Takatoshi Ito and Anne O. Krueger, 2001, Chicago: University of Chicago Press.
  • Why Do Governments Dump State Enterprises? Evidence From China (with David D. Li, inGovernance, Regulation, and Privatization (NBER- East Asia Seminar on Economics, vol. 12), edited by Takatoshi Ito and Anne O. Krueger, 2004, Chicago: University of Chicago Press.
  • How Well Has the Currency Board Performed? Evidence from Hong Kong (with Yum K. Kwan), Chapter 10, in Critical Issues in China's Growth and Development, edited by Y. K. Kwan and Eden S. M. Yu, 2005, Aldershot, UK: Ashgate Press. (French version: Les Regimes de Caisse D’emission Sont-ils Performants? Le Cas de Hong-Kong, la Revue d'Economie Financiėre, #75, 2004, p. 153-178.)
Books
  • The Economic Reform of China: Analysis, Reflections and Prospects (in Chinese, edited with Gene Hsin Chang and Dian Qing Xu), Milton Friedman Foundation Publications, Hong Kong: Chinese University of Hong Kong Press, June 1991.
  • Using Economics as Your Eyes (Title in Chinese: 用经济学做眼睛), Hong Kong: Next Press; first edition, August 1995; second edition, September 1995, third edition, May 1998.
  • The Zen of Economics (Title in Chinese: 生活经济禅; with P.K. Lau, Y.F. Luk, and K.W. Luk), Hong Kong: Infowide Press, November 1997.
  • Economics at the Storm Eye (Title in Chinese: 风眼中的经济), Hong Kong: Infowide Press, December 1997.
  • Diagnosis of the Hong Kong Dollar Crisis (Title in Chinese: 为港元危机断症; edited with Leonard Cheng), Hong Kong: Infowide Press, January 1998.
  • Old-Age Retirement Protection---A Plan for Hong Kong, Hong Kong: City University of Hong Kong Press, December 1998. (Chinese translation: 老有所养---退休保障评议; published by Commercial Press, Hong Kong, October 1998).
  • Industrial Development in Singapore, Taiwan and South Korea (with Kwong Kai-Sun, Chau Leung-Chuen and Larry D Qiu), Singapore: World Scientific Publishing Co., 2001.
  • Feeling the Pulse of the Hong Kong Economy (Title in Chinese: 为香港经济把脉), Hong Kong: Cosmos Books, November 2004.

Referee for Journals and Organizations

  • American Economic Review
  • Economic Development and Cultural Change
  • Economic Journal
  • Economics Letters
  • European Economic Review
  • European Journal of Political Economy
  • Hong Kong Journal of Social Sciences
  • International Economic Review
  • Journal of Development Economics
  • Journal of Economic Growth
  • Journal of Economic Literature
  • Journal of Labor Economics
  • Journal of Macroeconomics
  • Journal of Political Economy
  • Journal of Population Economics
  • Journal of Productivity Analysis
  • Journal of Public Economics
  • Journal of Institutional and Theoretical Economics
  • Journal of Japanese and International Economics
  • Mathematical Social Sciences
  • Oxford Economic Papers
  • Pacific Economics Review
  • Quarterly Journal of Economics
  • Review of Economic Dynamics
  • Review of Economic Studies
  • Southern Economic Journal
  • Scottish Journal of Political Economy
  • Cambridge University Press
  • Research Grants Council of Hong Kong
  • National University of Singapore 

Honors and Awards

  • Freeman Fellow, Salzburg Seminar (2000, 2003).
  • Golden Dragon Award for Distinguished Chinese in the World, Hong Kong (Overseas) Artists and Literators Society, 1999.
  • Member of Beta Gamma Sigma, the Honor Society for Collegiate Schools of Business (2000 – now); Secretary and President-Elect, UST Chapter (2002-2004); President, UST Chapter (2004-2006).
  • Member of China Economics Award Experts Nomination Committee (2004-present)