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Has COVID-19 permanently changed the nature of economic shocks on the Chinese economy?

Kaiji Chen, Patrick Higgins, Tao Zha, Apr 10, 2024

In latest study, Kaiji Chen and his colleagues at Emory University investigated the impact of COVID-19 on the Chinese economy. Through the construction of a GDP expenditure dataset and the application of SVAR modeling, they found that the constrained consumption shock during the pandemic significantly affected China's economy and may potentially alter its economic shock nature permanently.

Homemade Foreign Trading

Zhiguo He, Yuehan Wang, Xiaoquan Zhu, Jul 26, 2023

Our recent study provides evidence that Chinese mainland insiders tend to evade see-through surveillance by round-tripping via the Stock Connect program.

Financial Spillovers of Foreign Direct Investment: Evidence from China

Haoyuan Ding, Shu Lin, Shujie Wu, Haichun Ye, May 08, 2024

Foreign Direct Investment (FDI) has enhanced the financial conditions of Chinese enterprises, particularly through the financial spillover effects generated by supply chain connections, which have helped to reduce the burden of trade credit and increase opportunities for bank financing.

Building Tall, Falling Short: An Empirical Assessment of Chinese Skyscrapers

Ziyang Chen, Ting Chen, Yatang Lin, Jin Wang, Jun 04, 2025

Amid debates around state-led urbanization in developing countries, we analyze the causes and consequences of China’s skyscraper boom. We find that local governments often subsidize these projects through discounted land prices, motivated by political incentives. However, we find that such subsidies offer minimal long-term benefits, largely due to a mismatch with local conditions.

Let a Small Bank Fail: Implicit Non-guarantee and Financial Contagion

Liyuan Liu, Xianshuang Wang, Zhen Zhou, Nov 27, 2024

The research findings indicate that after the failure of a small bank, regulatory authorities did not fully bail out all creditors as had been the norm, and this policy shift affected the funding costs and market confidence of banks with lower systemic importance (SU).