A Bridge on Economic Issues between China and the World
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Misallocation, Selection, and Productivity: A Quantitative Analysis with Panel Data from China
Tasso Adamopoulos, Loren Brandt, Jessica Leight, Diego Restuccia, Jan 05, 2022We examine the distorting effects of China’s land institutions on aggregate agricultural productivity and other outcomes. We argue these distortions affect two key margins: (1) the allocation of resources across farmers (misallocation); and (2) the type of farmers who operate in agriculture (selection).
From Fog to Smog: The Value of Pollution Information
Panle Jia Barwick, Shanjun Li, Liguo Lin, Eric Zou, Feb 05, 2020During 2013–2014, China launched a nation-wide real-time air quality monitoring and disclosure program, which was a watershed moment in the history of its environmental regulations. We present the first empirical analysis of this natural experiment by exploiting its staggered introduction across cities. The program substantially expanded public access to pollution information, and in turn, triggered a cascade...
Price Discovery and Market Segmentation in China’s Credit Market
Zhe Geng, Jun Pan, Apr 08, 2020The recent unprecedented wave of bond defaults in China has captured the attention of investors worldwide. We document a severe segmentation between the pricing of state-owned enterprise (SOE) and non-SOE bonds that arises sharply post 2018. Using our default measure, we find that this market segmentation is not driven by the fundamentals of the firms. We also show that this market segmentation has also caused...
The Economic Toll of China’s Tutoring Ban
Zibin Huang, Yinan Liu, Mingming Ma, Leo Yang Yang, Aug 27, 2025China's 2021 “Double Reduction'' policy, which banned for-profit K12 academic tutoring, triggered an abrupt contraction in the education-services labor market. Using real-time job-posting and firm-registration data, we estimate over three million job openings lost in four months and at least 11 billion RMB in value-added tax (VAT) revenue losses within 18 months, alongside unintended negative spillovers to untargeted arts and sports training.
The Impact of Health Insurance on the Wellbeing of Older Chinese
Sisi Yang, Katja Hanewald, Aug 12, 2020Using data from the China Health and Retirement Longitudinal Study (CHARLS) in 2011, 2013 and 2015, we analyze whether the universal health insurance system in China increases the life satisfaction of middle-aged and older adults and to what extent the type of health insurance affects their life satisfaction. We find that the life satisfaction of middle-aged and older adults does not depend on having any health insurance...
