A Bridge on Economic Issues between China and the World
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Picking Winners? Government Subsidies and Firm Productivity in China
Lee G. Branstetter, Guangwei Li, Mengjia Ren, Jun 21, 2023We investigate the relationship between the allocation of government subsidies and total factor productivity for Chinese listed firms.
Gender-Targeted Job Ads: Patterns, Impacts, and Mechanisms
Peter Kuhn, Kailing Shen, Feb 27, 2019Gender-targeted job ads are common in many emerging economies. Using data from jobboards—which differ substantially in terms of culture, size, and user groups targeted—our empirical evidence suggests that policies that target workers’ application decisions may be at least as important as policies that target employers’ screening decisions, if not more.
Magnification of the “China Shock” Through the U.S. Housing Market
Yuan Xu, Hong Ma, Robert Feenstra, Jan 22, 2020The “China shock” operated in part through the U.S. housing market, which is one important reason the China shock was as big as it was. If housing prices had not responded at all to the China shock, then the total employment effect would have been reduced by more than one-half. Even when fully recognizing that housing prices responded to the China shock, the independent employment effect of the China shock is still reduced by around 30%.
Government as Venture Capitalists in AI
Martin Beraja, Wenwei Peng, David Yang, Noam Yuchtman, Nov 06, 2024This article discusses that government venture capital funds in China are more geographically dispersed than private venture capital, particularly in inland and less developed areas, and they are more inclined to invest in AI companies with weaker ex-ante productivity signals.
Special Deals from Special Investors: The Rise of State-Connected Private Owners in China
Chong-En Bai, Chang-Tai Hsieh, Michael Zheng Song, Xin Wang, Feb 10, 2021We document a hierarchy of private owners connected to the state through equity investment and a rapid expansion of this hierarchy over the past two decades. We build a model to show how the effects of a special deal from a state investor can be transmitted and amplified through the hierarchy. Our estimation suggests that the expansion in the span of state-connected private owners may have increased aggregate output of the private sector by 4.2% a year between 2000 and 2019.
