A Bridge on Economic Issues between China and the World
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Is the Wife A Risk Mitigator? Evidence from Family Firms in China
Yue Pan, Jinli Xiao, Vincent W. Yao, Jian Zhang, Jun 06, 2018Firm-level decisions are largely made by corporate executives whose preferences and attitudes can be shaped by historical traits and what is happening inside their households. We investigate how the involvement of a founder’s wife through marital ownership influences the family firm’s level of risk-taking and explore the underlying mechanisms.
English Language Requirements and Educational Inequality in China
Hongbin Li, Lingsheng Meng, Kai Mu, Shaoda Wang, May 29, 2024The introduction of the English listening test in the NCEE has exacerbated educational inequality between urban and rural areas in China, thereby affecting the college admission prospects and future income of rural students.
Verifying China’s COVID-19 Recovery Using the FRBSF China CAT
Remy Beauregard, John G. Fernald, Mark M. Spiegel, Dec 23, 2020Using the FRBSF China Cyclical Activity Tracker, we confirm the robustness of China’s recovery from the COVID-19 downturn. The FRBSF “China CAT” estimates that first quarter 2020 China GDP plunged 6.4 standard deviations below its detrended level a year earlier, but by the end of the third quarter, China economic activity had recovered to only 0.1 standard deviations below trend. As such, the FRBSF China CAT index validates the accuracy...
The Anatomy of Chinese Innovation: Insights on Patent Quality and Ownership
Philipp Boeing, Loren Brandt, Ruochen Dai, Kevin Lim, Bettina Peters, May 07, 2025Chinese patenting has become narrower and less innovative over time. The role of overseas knowledge has also declined sharply. These findings are salient in the context of a marked slowdown in economic growth in China and rising concerns of technological decoupling with the US.
Rebalancing in China: Progress and Prospects
Longmei Zhang, Aug 02, 2017This paper develops a framework for China’s rebalancing, reviews past progress, and discusses medium-term prospects. China has advanced well in reducing its excessive external surplus and moving towards consumption and services, while still lagging behind in reducing credit reliance, environmental pollution, and income inequality. Going forward, the economy will continue rebalancing in many dimensions, while credit will remain China’s Achilles heel unless decisive corporate restructuring and SOE reforms are implemented.
