Chinese firms are increasingly utilizing tax havens like the Cayman Islands, Bermuda, and the British Virgin Islands to raise large sums of capital from foreign investors, accounting for over 60% of total offshore equities by 2020.
Focusing on China’s accession to the World Trade Organization, we show that Chinese cities with more exposure to trade liberalization sent more students to US universities.
We examine the drivers of rising wealth inequality in urban China since 1995. We highlight the intertwined nature of growth and equity during China’s transition toward a market-oriented economy.
We provide new evidence on the causal effects of housing wealth on consumer behavior.
We investigate the relationship between the allocation of government subsidies and total factor productivity for Chinese listed firms.