Most Popular

Understanding the Evolution of China’s Production and Trade Patterns

Hanwei Huang, Jiandong Ju, Vivian Yue, Oct 09, 2024

The article discusses how capital accumulation has driven China's transition towards capital-intensive industries, while labor-biased productivity growth has helped China maintain a competitive edge in labor-intensive sectors.

Lucky Dragons

Chih Ming Tan, Xiao Wang, Xiaobo Zhang, Feb 21, 2024

This article explores the intriguing connection between Chinese zodiac signs and parental investment in children’s development. Particularly, parents invest more in children born under the “lucky” sign of the dragon, potentially impacting their cognitive and noncognitive skills alike.

Bond for Employment: Evidence from China

Yi Huang, Shu Lin, Haichun Ye, Feb 15, 2023

Using the unique institutional feature of government regulations in China, we provide robust evidence that firms with a larger employment size have significantly better access to bond credit.

Fiscal Stimulus, Deposit Competition, and the Rise of Shadow Banking: Evidence from China

Viral V. Acharya, Jun Qian, Yang Su, Zhishu Yang, Apr 24, 2024

The 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.

Implicit Guarantees and the Rise of Shadow Banking: the Case of Trust Products

Franklin Allen, Xian Gu, C. Wei Li, Jun Qian, Yiming Qian, Sep 06, 2023

The prevalent implicit guarantees provided by financial intermediaries have been a central feature of shadow banking products in China. Our theoretical investigation shows that providing implicit guarantees can be the second-best arrangement and mitigate capital misallocation.