Tongxuan Gao, Virginia Hernanz Martín and Suárez Gálvez Cristina, researchers at the Department of Economics of the Universidad de Alcalá, Spain highlight depressing trends in female employment in China. In 2016 it became possible for all women in China to have a second child (ethnic minorities were already excluded from the one child policy and […]
Category: Sunday Papers
Jialing Zhao (corresponding author, et al.), from the School of Economics at the Lanzhou University takes a fresh look at ‘Stock Price Crash Risk’ i.e. the likelihood a stock will unexpectedly collapse (nearly always) in response to bad-data hoarding by the company’s owners and/or managers. The ‘fresh look’ here is to see if a company’s […]
I’d have put the conclusion from this work another way. One with more resonance for regular investors than researchers Xiyuan Jing and Mangfei Liu of the Victoria University of Wellington and the Shaanxi Normal University have chosen to. Their summary notes a negative correlation between Employee Stock Ownership Schemes (ESOPs) and stock price crash risk […]
Chen Yihui (et al.) from the Hunan University wondered if engagement with the Belt and Road Initiative (BRI) would produce a beneficial stock-price effect for companies involved? Further, would the depth of their involvement be reflected by the magnitude of the stock price response? The answer turns out to be yes, and yes. The researchers […]
Computer whizz Dr. Craig S. Wright (University of Exeter; Harvard University; RCJBR Holdings PLC, who may have had something to do with the beginnings of Bitcoin) has written a most engaging essay. It’s so packed with zingers I’ll summarize it quickly but urge you to find the 15-minutes or so the monograph in full will […]
[The paper is dense and I hope the authors will forgive the very crude summary below. It’s missing a lot of nuance and if this subject is of interest you should review the work in full here College Expansion and the Rise of Intergenerational Persistence.] In 1999 (the dotted red vertical line below) China decided […]
Something ‘funny’ happened to China’s reported GDP growth numbers around five years ago, they became more volatile. As you can see, so too did numbers from the rest of the world but in China’s case the discontinuity is stark (look for red along the bottom and on the right). The smoothness of the series prior […]
Justin Ko, Harvard Law School; University of Macau, Faculty of Law, Students, takes a closer look at three of the most successful Chinese EV companies (of 115 now operating) and tries to explain what separates the leaders from the rest. He starts by reminding that much analysis from the West on China’s EV market is […]
Lant Pritchett, a Visiting Professor in Practice at the LSE School of Public Policy London writing in a Working Paper for the Asian Development Bank Institute (Tokyo) tackles a subject I wrangled tangentially with over COVID looking into the origins of modern democratic systems and the development of the most successful of these, the United […]
Seán S. ÓhÉigeartaigh from the Centre for the Future of Intelligenceat the University of Cambridge wonders exactly what rhetoric around an ‘AI race’ actually means? He points out that for there to be a ‘race’ you have to have teams and a sense of where the winning might be. China has never declared themselves to […]
Dr. Yan Liang at the Williamette University (Oregon, U.S.), writing in a Working Paper for the Levy Economics Institute, takes on ‘*The Coming Collapse of China’ narrative. [*Title of a famous book from 2001 coming up for its 25th year of spectacular wrongness. It’s author, Mr. Gordon G. Chang, continues to shamelessly appear in the […]
Catalina Cozariuc of the European University Institute (Florence, Italy) together with Luc Laeven and Alexander A. Popov of the European Central Bank provide a companion piece to last week’s paper on how China can/will develop as an educational powerhouse. Key to achieving educational-superpower status China will need to crank up it’s output of peer-reviewed and […]
Justin Ko, a Juris Doctor graduate of Harvard Law School now working on his PhD, looks more closely at what it would take for China to become a powerhouse in educational excellence. That this is China’s intention is in no doubt as on January 19th this year “..the Central Committee of the Communist Party of China […]
Economic Policy Advisors at the New York Fed. Jeffrey B. Dawson and Hunter L. Clark, writing in a recent ‘Liberty Street Economics’ article (the NY Fed’s blog), summarize the predicament China’s planners now find themselves in. In addition to the economic challenge of COVID China has additionally had to deal with a monster property collapse. […]
The chart shows fixed broadband connections per 100 people and is a good place to start a summary of the paper highlighted today. Nothing makes is clearer how China has stepped up its game in terms of digital connectivity versus the rest of the developed world. Khong Vu and Yiya Lu from the National University […]
I’ve wondered why ‘foreign’ buyers in a housing market, especially if they contribute to higher prices are nearly-always flagged as a bad thing? Surely, I used to think, existing owners get a free-ride benefit, no? Jung Sakong from the Federal Reserve Bank of Chicago in the paper looked over today has helped me understand the […]
Gang Wei (et al.) from the Henan University takes on a subject I’ve often wondered about. Do external supervisors, in the China context, actually do any good in protecting investor’s interests? The researchers chose to concentrate their study on China’s commercial banks and analyzed data from 2005 to 2022, a period of rapid growth, stress […]
David Landry, of the Duke Kunshan University (China) & Johns Hopkins University (USA) has done us a great service by producing for the first time (that I’ve seen something like this anyhow) a comprehensive analysis of where China is digging, and for what, around the world. Every so often stories flare up suggesting China ‘secretly’ […]
Alicia García-Herrero and Jianwei Xu have produced a complimentary piece to work featured last week (about how an ageing population won’t be a problem for housing demand until around 2045). In the paper highlighted today the researchers take a look at how urbanization in China may offset the effects of ageing in terms of overall […]
Zhenguo (Len) Lin (et al.) at the Florida International University (F.I.U.) Hollo School of Real Estate noticed studies on the relationship between a population’s age profile and housing demand were not only ambiguous but mostly related to developed economies. Moreover, these studies had taken place in the contexts of a more genteel ageing pattern than […]