A Bridge on Economic Issues between China and the World
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The Quiet Revolution in Women’s Human Capital and the Gender Earnings Gap in the People’s Republic of China
Zhengyang Li, Guochang Zhao, Jul 08, 2020Since the 1980s, girls’ educational attaintment increased more quickly than boys’. As a result, the gender education gap decreased and even reversed in China. How does the gender earnings gap change in the face of increasing female human capital? What are the implications for the Chinese gender earnings gap in the future? This column will shed light on this interesting topic within and across cohorts.
Feedback Trading and the Chinese Put Warrants Bubble
Neil D. Pearson, Zhishu Yang, Qi Zhang, Jul 27, 2022There was a bubble in the prices of put warrants traded on the Shanghai and Shenzhen stock exchanges during the summer of 2007. We use investor trading records from a large securities firm to show that put warrant investors engaged in a particular form of feedback trading. This feedback trading exacerbated an initial run-up in put warrant prices caused by a change in the stock transaction tax, and created the bubble.
Exports in Disguise: Trade Rerouting during the US-China Trade War?
Ebehi Iyoha, Edmund Malesky, Jaya Wen, Sung-Ju Wu, Bo Feng, Jan 22, 2025We found that the level of rerouting varied significantly depending on the granularity of the measure used: 16.5% of Vietnamese exports to the US were rerouted at the product level, compared to just 1.7% at the firm level. Trade war tariffs led to increases in rerouting, but estimates were again significantly smaller for more granular measures, underscoring the importance of detailed microdata in formulating trade policy and measuring compliance.
Does Import Competition Harm Innovation? Evidence from Firm-level Data in China
Qing Liu, Ruosi Lu, Yi Lu, Tuan Anh Luong, Oct 06, 2021Twenty years ago, China’s entering the World Trade Organization (WTO) was a catalyst for its economic development and propelled China into becoming one of the most important economies in the world. But massive import tariff reductions allowed more import competition, which raised concerns that innovation would be curbed. Tuan Luong, from De Montfort University, and his co-authors, Qing Liu, Ruosi Lu, and Yi Lu, discuss the impacts of import competition on domestic innovation...
Centralization or Decentralization? The Evolution of State-Ownership in China
Franklin Allen, Junhui Cai, Xian Gu, Jun Qian, Linda Zhao, Wu Zhu, Apr 05, 2023We developed an SOE index for all 40 million firms in China from 1990 to 2017 based on the dynamic EquiNet. This quantitative index is solely based on equity investments and thus clears up the mysteries of other self-report measures.
