Internationalizing Like China
Chris Clayton, Amanda Dos Santos, Matteo Maggiori, Jesse Schreger, Feb 08,
2023
China’s strategy for internationalizing the renminbi involves controlling the access of foreign investors to the domestic bond market.
The Rise and Fall of Imperial China
Yuhua Wang, Dec 21,
2022
Why do some states stay intact for centuries, while others fall relatively soon after they are founded?
Social Media Engagement Increases Government Action, Decreases Pollution
Mark Buntaine, Michael Greenstone, Guojun He, Mengdi Liu, Shaoda Wang, Bing Zhang, Dec 14,
2022
In China, citizen participation in environmental governance via social media could significantly improve regulatory effort, leading to substantial environmental benefits.
BigTech Credit and Monetary Policy Transmission
Yiping Huang, Xiang Li, Han Qiu, Changhua Yu, Dec 07,
2022
By comparing business loans made by a BigTech bank with those made by traditional banks, this study finds that BigTech loans tend to be smaller, and the BigTech lender is more likely to grant credit to new borrowers than conventional banks in response to expansionary monetary policy.
Microgiving with Digital Platforms
Xiheng Jiang, Jianwei Xing, Jintao Xu, Eric Zou, Nov 30,
2022
“Microgiving,” a new model of fundraising made possible by digital technologies, is premised on the notion that charities can raise substantial funds by soliciting minuscule donations from many individuals.
Judicial Independence, Local Protectionism, and Economic Integration in China
Ernest Liu, Yi Lu, Wenwei Peng, Shaoda Wang, Nov 23,
2022
Exploiting the staggered rollout, since 2014, of judicial independence reform that removed local governments’ control over local courts’ financial and personnel decisions in China, we show that judicial independence can reduce local protectionism and foster cross-regional economic integration.
QR Code-Based Mobile Payments and Financial Inclusion
Thorsten Beck, Leonardo Gambacorta, Yiping Huang, Zhenhua Li, Han Qiu, Nov 09,
2022
By means of a unique dataset of around half a million Chinese firms, we investigate the link between the use of a QR code-based mobile payment system and financial inclusion.
A Summary of Retail Investors and Momentum
Jun Du, Dashan Huang, Jane Yu Liu, Yushui Shi, Avanidhar Subrahmanyam, Huacheng Zhang, Oct 26,
2022
We explore the link between momentum and retail investing via an identification strategy in China, where retail investors dominate. We propose that due to a round lot restriction, small retail investors are less likely to hold and trade stocks with high nominal prices, and find supporting evidence.