Annual Conference

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Trade, Growth and Development

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May 2022

Unequal Transition: The Making of China’s Wealth Gap

Lijun ZHU, Yu ZHENG, Yangtian JIANG
This paper studies the evolution of wealth inequality during China’s rapid economic growth since its market-oriented reforms in the early 1990s. We first document the evolution and composition of China’s wealth distribution and summarize stylized facts on aspects of the growth and reform process...
Keywords: Wealth inequality, The Chinese economic reform, Financial frictions, Entrepreneurship, Housing, Migr
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Annual Conference

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Trade, Growth and Development

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May 2022

Industry-University Collaboration and Commercializing Chinese Corporate Innovation

Po-Hsuan HSU, David H. HSU, Kaiguo ZHOU, Tong ZHOU
We examine how industry-university collaboration (IUC) enhances Chinese firms’ commercialization of their technologies using a comprehensive dataset of mediumsized and large industrial firms and research universities in China. Measuring IUC with the occurrence and frequency of patents co-assigned ...
Keywords: Industry-University Collaboration, Corporate Innovation, Technology Commercialization, Technology Tr
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Annual Conference

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Trade, Growth and Development

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May 2022

How Does Declining Worker Power Affect Investment Sensitivity to Minimum Wage?

Sreedhar T. BHARATH, Duckki CHO, Michael HERTZEL
Declining worker power has been advanced as an explanation for dramatic generational changes in the U.S. macroeconomic environment such as the substantial decline in labor’s share of the national income, the loss of consumer purchasing power, and growing income and wealth inequality. In this paper...
Keywords: DECLINING WORKER POWER, CORPORATE INVESTMENT, MINIMUM WAGE, GLOBALIZATION, US-CHINA
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Annual Conference

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Trade, Growth and Development, Senior Fellows/Fellows

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May 2022

Natural Barriers and Policy Barriers

Shang-Jin WEI, Yang JIAO
This paper investigates whether “natural” trade barriers of a country due to geography and other factors outside the country’s control stimulate more or less policy barriers such as tariffs. Our theory predicts that the politician’s relative weight on private benefits over social welfare in ...
Keywords: Natural Barriers, Institutional Quality, Trade Policy, China Shock, Reciprocated Unilateralism
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Annual Conference

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Trade, Growth and Development

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May 2022

Trade Shocks and Bank Lending: Evidence from Antidumping Investigations of Chinese Firms

Chunbo LIU, Huimin SHI, Yu WU
Using credit registry data from China, this paper examines the implications of antidumping trade shocks on exporting country’s bank loan market. We find that a onestandard-deviation trade shock leads to a 7.2% increase in the likelihood of default in relative terms. Banks respond to the shock by r...
Keywords: Antidumping, Bank Lending, China, Spillover
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