A Bridge on Economic Issues between China and the World
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The Financing of Local Government in China: Stimulus Loans Wane and Shadow Banking Waxes
Zhuo Chen, Zhiguo He, Chun Liu, Jinyu Liu, Jul 05, 2017The shadow banking activities in China surged in 2012-2013. Prof. Zhuo Chen and Prof. Chun Liu from Tsinghua University, Prof. Zhiguo He from Chicago Booth and Prof. Jinyu Liu from the University of International Business and Economics provide empirical evidence showing that the “barbarian growth” of China’s shadow banking during this period constitute a “hangover effect” from the four trillion RMB stimulus package in 2009.
Forecasting China’s Economic Growth
Patrick Higgins, Tao Zha, Karen Zhong, Jun 20, 2017As the second largest economy, China intrigues heated debates among policymakers and researchers alike on how fast its economy will grow in the future and how truthfully the official data reflect its actual economic growth. Patrick Higgins and Tao Zha from the Atlanta Fed and Karen Zhong from Shanghai Advanced Institute of Finance develop a replicable econometric model to shed light on these issues.
Book Synopsis Invisible China: Hundreds of Millions of Rural Underemployed May Slow China’s Growth
Scott Rozelle, Natalie Hell, Jun 02, 2021Ｎo assessment of China's growth is complete without considering the implications of having hundreds of millions of underemployed people in China's economy for the foreseeable future. The bottom line is that China needs to build on its recent efforts to boost rural education, health and nutrition, and early childhood development, and do so at a pace and intensity that recognizes these are potentially among the biggest problems the nation faces.
Book Synopsis The Clash of Capitalisms? Chinese Companies in the United States
Ji Li, Oct 31, 2018Chinese companies in the United States are generally adaptive to their host country’s legal and regulatory institutions. However, the adaptation varies in accordance with the companies’ ownership structure and the institutional distance between the two countries across different subject matter areas.
A New Perspective on China’s Credit Boom
Kinda Hachem, Michael Zheng Song, Jun 20, 2017What caused the enormous credit boom in China? This column by Kinda Hachem and Michael Song offers an unexpected explanation of stricter liquidity regulations on banks leading to a credit boom through competition between small and big banks and their heavy use of shadow banking investment instruments.
