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Learning by Investing: entrepreneurial spillovers from venture capital

Josh Lerner, Jinlin Li, Tong Liu, May 22, 2024

The experience gained by individual investors from participating in venture capital funds significantly enhances their entrepreneurial capabilities in the high-tech sector.

Environmental Externalities, Product Attributes, and Market Power: Implications for Government Subsidies

Panle Jia Barwick, Hyuk-soo Kwon, Shanjun Li, Sep 18, 2024

The article discusses how attribute-based subsidy (ABS) designs lead to higher product quality and more effectively mitigate market power than uniform subsidies, albeit with a modest environmental cost.

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.

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.

Destination-Specific Export Expansions and Their Impact on Education and Long-Term Outcomes in China

Junsen Zhang, Kang Zhou, Jul 17, 2024

This article discusses that export expansions to wealthy countries significantly increased high school enrollment rates in specific regions and among certain groups in China, but this impact did not translate into an increased prevalence of higher education. Instead, it had long-term effects on employment and fertility outcomes for the affected cohorts.