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Financing Micro-entrepreneurship in Online Crowdfunding Markets: Local Preference versus Information Frictions
Jian Ni, Yi Xin, Sep 30, 2020Crowdfunding has become an important financing alternative for micro-entrepreneurship. We study to what extent bias toward local entrepreneurs is prevalent in crowdfunding markets, determine the main driving forces for such bias, and examine how crowdfunding platforms and policymakers can leverage these forces to stimulate micro-entrepreneurship. Even though online crowdfunding platforms are designed to overcome geographic barriers, we find evidence of strong local bias induced by both informational frictions and local preference, with the former being more important.
Empowered Young Women: Trade Liberalization and Women’s Family Decisions in China
Difei Ouyang, Weidi Yuan, Yuan Zi, Mar 08, 2023How do women’s marriage and fertility decisions respond to trade liberalization? This column finds that Chinese prefectures more exposed to the US granting of permanent normal trade relations to China have experienced a relative increase in the fraction of unmarried young women and young women without children.
Growing Apart: Declining Within- and Across-Village Risk Sharing in Rural China
Orazio Attanasio, Costas Meghir, Corina Mommaerts, and Yu Zheng , May 25, 2022China has embarked on an ambitious campaign to close income gaps, address regional inequality and unfair social welfare provision, and make solid progress toward common prosperity by 2035. This marks a shift in focus from overall growth to promoting equitable and balanced growth.
The Value of Big Data in a Pandemic
Kairong Xiao, May 05, 2021This article summarizes a study of the economic and public health effects of the Health Code app in China. By exploiting the staggered implementation of this technology across 322 Chinese cities, this study finds that the Health Code app significantly reduced virus transmission and facilitated economic recovery during the COVID-19 pandemic. A macroeconomic susceptible-infectious-recovered (SIR) model calibrated to the micro-level estimates shows...
China’s New Goal for Income Distribution: What Does it Mean and are There Tradeoffs?
Martin Ravallion, Shaohua Chen, Mar 16, 2022China’s political leadership recently committed to expanding the proportion of middle-income groups to create a less polarised, and more ‘olive-shaped’, distribution of wealth. This column considers the potential trade-offs between reducing income polarisation and other goals, including poverty reduction.
