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Cash in the Darkness

Haohan Ren, Kemin Wang, Bohui Zhang, Fan Zhang, Jan 12, 2024

Relying on a large dataset on cash withdrawals of over 165 million bank cards from China, we find a higher ratio of cash withdrawals late at night is associated with criminal activity.

Industrial Policy: Lessons from Shipbuilding

Panle Jia Barwick, Myrto Kalouptsidi, Nahim Bin Zahur, Dec 18, 2024

The article discusses that although China's industrial policy (IP) in the shipbuilding industry significantly increased domestic shipbuilding production and global market share, it had limited effects on improving domestic welfare and led to inefficient allocation of resources.

Demand for Retirement Insurance: What Do People Want?

Cheng Wan, Hazel Bateman, Hanming Fang, Katja Hanewald, Oct 02, 2024

This article discusses the diversity and preference variations in the demand for retirement insurance among urban residents in China, particularly the high demand for health-related insurance such as critical illness (CI) and long-term care (LTC) insurance, and how individual financial circumstances, risk appetites, and bequest motives significantly influence their choice of retirement insurance products.

The Pre-Announcement Drift in China: Government Meetings and Macro Announcements

Jun Pan, Qing Peng, Mar 20, 2024

Confirming Chinese equity market is policy-driven, this study reveals a significant pre-Govt return before top government meetings, akin to the US pre-FOMC drift. It highlights the market's anticipation of these events and their impact on asset pricing, underscoring the centralized financial system in China.

Can Environmental Regulation Enhance Productivity? Evidence from China’s Industrial Sector

Yangsiyu Lu, Jacquelyn Pless, Feb 19, 2025

Our study also contributes to the broader discourse on industrial policy (see Juhász, Lane, and Rodrik 2023 for a recent review of related academic literature). As debates about green industrial policy gains traction in the U.S., Europe, and beyond, there is revived interest in developing a better understanding of how it might impact economic activity. Although economic growth and environmental regulation are often pitted against each other, our findings suggest that this need not be the case.