First Author:   Min-Hsien Chiang National Cheng Kung University mchiang@mail.ncku.edu.tw   Institute of International Business, National Cheng Kung University, 1 Ta-Hsueh Rd. Tainan, 70101, TAIWAN   +886-6-2757575 ext. 53511(Phone) +886-6-2757575 ext. 53511(Fax) Second Author: Chihwa Kao Syracuse University cdkao@maxwell.syr.edu   Department of Economics & Center for Policy Research, Syracuse University Syracuse, 13244