Webinar Series

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

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Jan 2022

FinTech Lending and Cashless Payments

Pulak GHOSH, Yao ZENG, Boris VALLEE
This study provides a new perspective on the rise of FinTech lending by uncovering an informational synergy with cashless payments. Theoretically, FinTech lenders screen borrowers more efficiently when borrowers use cashless payments that produce transferable and verifiable information. In turn, bec...
Keywords: FinTech, Lending, payments, verifiability, data sharing, open banking
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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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Dec 2021

Merger Analysis in the App Economy: An Empirical Model of Ad-Sponsored Media

Kohei KAWAGUCHI, Toshifumi KURODA, Susumu SATO
In the mobile app market, multiple monetizing policies such as paid and free ad-sponsored models co-exist. This paper proposes a novel model of ad-sponsored media with endogenous business model choice, that is applicable to the mobile app industry. The model defines an equilibrium over consumers’ ...
Keywords: Merger simulation, market definition, SSNIP, antitrust policy, ad-sponsored media, platform transaction fee, app economy, distributed word representation.
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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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Oct 2021

Digitization and Artificial Intelligence: Challenges and Opportunities for Policy

Susan ATHEY
Keywords: AI, machine learning, autonomy, service delivery
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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

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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Feb 2022

Ownership Networks and Firm Growth: What Do Forty Million Companies Tell Us About the Chinese Economy?

Junhui CAI, Xian GU, Jun QIAN, Linda ZHAO, Wu ZHU, Franklin ALLEN
The finance–growth nexus has been a central question in understanding the unprecedented success of the Chinese economy. Using unique data on all the registered firms in China, we build extensive firm-to-firm equity ownership networks. Entering a network and increasing network centrality leads to h...
Keywords: Ownership network, Equity capital, firm growth, Bank Credit
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