A Bridge on Economic Issues between China and the World
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Employee Output Response to Stock Market Wealth Shocks
Teng Li, Wenlan Qian, Wei A. Xiong, Xin Zou, Sep 27, 2023Exploiting individual-level data linking worker performance and stock investment, we show that a 10% increase in stock investment returns is associated with a decrease in the same investor’s work output by 3.8% in the following month.
Growing Apart: Declining Within- and Across-Village Risk Sharing in Rural China
Orazio Attanasio, Costas Meghir, Corina Mommaerts, and Yu Zheng , May 25, 2022China has embarked on an ambitious campaign to close income gaps, address regional inequality and unfair social welfare provision, and make solid progress toward common prosperity by 2035. This marks a shift in focus from overall growth to promoting equitable and balanced growth.
The Pre-Announcement Drift in China: Government Meetings and Macro Announcements
Jun Pan, Qing Peng, Mar 20, 2024Confirming 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.
Microgiving with Digital Platforms
Xiheng Jiang, Jianwei Xing, Jintao Xu, Eric Zou, Nov 30, 2022“Microgiving,” a new model of fundraising made possible by digital technologies, is premised on the notion that charities can raise substantial funds by soliciting minuscule donations from many individuals.
Ray of Hope? The Rise of Solar Energy in China
Ignacio Banares-Sanchez, Robin Burgess, Dávid László, Pol Simpson, John Van Reenen, Yifan Wang, Mar 25, 2026China’s solar subsidies triggered innovation and learning-by-doing that dramatically lowered global solar costs while generating domestic economic gains large enough to outweigh the subsidy costs, showing that green industrial policy can simultaneously boost growth and help fight climate change.
