A Bridge on Economic Issues between China and the World
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Opening Up in the 21st Century: A Quantitative Accounting of Chinese Export Growth
Loren Brandt, Kevin Lim, Apr 12, 2023China’s rapid export growth has spurred extensive research investigating its effects on other economies. However, the exact causes of the boom as well as the slowdown in Chinese exporting after 2007 are less well understood.
Structural Change and the Stability of Aggregate Employment in China
Wen Yao, Xiaodong Zhu, Oct 27, 2021In developed countries, aggregate employment has a strong positive correlation with aggregate output, and it is almost as volatile as output. In China, the correlation of aggregate employment and output is close to zero, and the volatility of aggregate employment is very low. We argue that the key to understanding the stability of aggregate employment in China is labor reallocation between the agricultural and non-agricultural sectors, and that the declining relative demand...
Social Media Engagement Increases Government Action, Decreases Pollution
Mark Buntaine, Michael Greenstone, Guojun He, Mengdi Liu, Shaoda Wang, Bing Zhang, Dec 14, 2022In China, citizen participation in environmental governance via social media could significantly improve regulatory effort, leading to substantial environmental benefits.
Fiscal Stimulus, Deposit Competition, and the Rise of Shadow Banking: Evidence from China
Viral V. Acharya, Jun Qian, Yang Su, Zhishu Yang, Apr 24, 2024The article reveals that the rise of shadow banking in China stems from the intensification of deposit competition after the global financial crisis, and analyzes the threat of small and medium-sized banks' disadvantage in this competition to the overall financial system.
Throwing Good Money after Bad: Zombie Lending and the Supply Chain Contagion of Firm Exit
Yun Dai, Xuchao Li, Dinghua Liu, Jiankun Lu, Jan 19, 2022Zombie lending to downstream firms does not reduce the exit likelihood of upstream firms. Worse, it distorts efficiency-based firm exit in upstream industries. The exit distortion effect works through the trade credit chain and is more profound in industries with stricter financial constraints and tighter supply chain connections
