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Physician-Induced Demand: Evidence from China’s Drug Price Zero-Markup Policy
Hanming Fang, Xiaoyan Lei, Julie Shi, Xuejie Yi, Aug 11, 2021We exploit the staggered rollout of China’s drug price zero-markup policy (ZMP) to study physician-induced demand in healthcare. Our results show that the drug expenses in the treatment hospitals dropped by 63 log points (47 percent) compared with those of the control group; however, the expenses for non-drug services were 28 log points (32 percent) higher in the treatment group than in the control group. Our results provide robust evidence for physician-induced demand.
Reluctant Entrepreneurs: Evidence from China’s SOE Reform
Hanming Fang, Ming Li, Zenan Wu, Yapei Zhang, Oct 09, 2023In this column, we examine how the presence of state-owned enterprises (SOE) affects the private sector by influencing the allocation of skills across SOEs, private sector waged employment and entrepreneurship.
The Data Privacy Paradox of Alipay Users
Long Chen, Yadong Huang, Shumiao Ouyang, Wei Xiong, Jul 07, 2021We find that there is no relationship between the self-stated privacy concerns of a sample of Alipay users and their number of data-sharing authorizations with third-party mini-programs on Alipay. We explain this data privacy paradox by a curious finding that users with stronger privacy concerns tend to benefit more from using mini-programs, which further suggests that consumers may develop data privacy concerns as a by-product of the process of using digital applications, not because such concerns are innate.
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.
The Impact of Rural-Urban Migration on House Prices in China
Carlos Garriga, Aaron Hedlund, Yang Tang, Ping Wang, Jan 27, 2021Rural-urban migration is an integral part of the dynamic process of structural transformation. The interplay between population inflows and house prices depends on various geographical differences in the economic and policy climate. In the case of China, we highlight particularly the roles played by location-specific hukou restrictions and local land supply.
