Webinar Series

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Capital Market Development: China and Asia

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Mar 2025

Working Paper WBCMD038

Digital Technology, Legal Reforms, and Bank Lending

Yi HUANG, Yuchao PENG, Yangfan SUN, Nanxuan WANG, Bernard YEUNG
The introduction of online collateral auctions through legal reform has established a more efficient bankruptcy resolution mechanism. This technology-driven change has enhanced the ex-ante value of secured loans, influencing the supply, demand, and composition of bank lending. Using granular loan-le...
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Webinar Series

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Capital Market Development: China and Asia

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Jul 2021

Working Paper WBCMD006

Digital Payments and Consumption: Evidence from the 2016 Demonetization in India

Pulak GHOSH, Jing LI, Tianyue RUAN, Sumit AGARWAL
We study how consumer spending responds to digital payments, using the differential switch to digital payments across consumers induced by the sudden 2016 Indian Demonetization for identification. Usage of digital payments rose by 3.38 percentage points and monthly spending increased by 3% for an ad...
Keywords: digital payments, financial technology, Consumption, India, Demonetization
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Webinar Series

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Innovation, Productivity and Challenges in the Digital Era: Asia and Beyond

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Nov 2021

Working Paper WBIPC002

Data-intensive Innovation and the State: Evidence from AI Firms in China

Martin BERAJA, David Y. YANG, Noam YUCHTMAN
Developing AI technology requires data. In many domains, government data far exceeds in magnitude and scope data collected by the private sector, and AI firms often gain access to such data when providing services to the state. We argue that such access can stimulate commercial AI innovation in part...
Keywords: AI, facial recognition, government data, innnovation, policies
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Webinar Series

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Capital Market Development: China and Asia

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Sep 2021

Working Paper WBCMD010

Data versus Collateral

Leonardo GAMBACORTA, Yiping HUANG, Zhenhua LI, Shu CHEN
The use of massive amounts of data by large technology firms (big techs) to assess firms’ creditworthiness could reduce the need for collateral in solving asymmetric information problems in credit markets. Using a unique dataset of more than 2 million Chinese firms that received credit from both a...
Keywords: asymmetric information, Banks, big data, big tech, Collateral, credit markets
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Webinar Series

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Innovation, Productivity and Challenges in the Digital Era: Asia and Beyond

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Sep 2022

Working Paper WBIP017

Data Privacy and Digital Demand

Wei XIONG, Long CHEN, Yadong HUANG, Shumiao OUYANG
We combine survey and behavioral data to analyze consumers’ data-sharing choices in a realistic setting in which they exchange personal data for digital services. We find that respondents with stronger privacy concerns authorize more, rather than less, data sharing, confirming the data privacy par...
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