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The Dual Role of China’s Stock Market: Capital Allocator and Platform for Global Diversification

Jennifer N. Carpenter, Robert F. Whitelaw, Aug 09, 2017

Professors Jennifer Carpenter and Robert Whitelaw, both of New York University’s Stern School of Business, discuss the roles of the China's stock market in improving the efficiency of capital allocation in China and in helping global investors achieve diversification.

Currency Carry Trade by Trucks: The Curious Case of China’s Massive Imports from Itself

Xuepeng Liu, Heiwai Tang, Zhi Wang, Shang-Jin Wei, Apr 13, 2022

Capital controls are common in many developing countries. With capital controls, the standard financial market transactions needed for currency carry trade are hard to implement. Yet, as long as there is a big difference between domestic and foreign interest rates, the incentive to engage in currency carry trade is present.

How Rural Pensions Boosted China's Economy

Qingen Gai, Naijia Guo, Bingjing Li, Qinghua Shi, Xiaodong Zhu, Dec 31, 2025

China’s New Rural Pension Scheme unexpectedly lowered the high cost of migration by freeing younger workers from household duties – boosting migration, wages, household welfare, and even national GDP.

Bilateral Trade and Shocks in Political Relations: Evidence from China

Yingxin Du, Jiandong Ju, Carlos D. Ramirez, Xi Yao, Mar 14, 2018

To what extent do political relations between countries affect their economic exchange? Using evidence of China’s relations with other major powers during the period of 1990 to 2013, Yingxin Du, Jiandong Ju, Carlos D. Ramirez, and Xi Yao point out the time-aggregation bias in the existing empirical research and provide insights on the relationship between political shocks and trade.

The Hidden Cost of Trade Liberalization: Input Tariff Shocks and Worker Health in China

Haichao Fan, Faqin Lin, Shu Lin, Jun 24, 2020

Can intermediate input trade liberalization affect worker health in a developing country like China, and if so, how? Do the impacts differ between skilled and unskilled workers? What are the welfare implications of input tariff reductions once health factors are considered? Professors Haichao Fan of Fudan University, Faqin Lin of China Agricultural University, and Shu Lin of the Chinese University of Hong Kong develop...