We study the transmission of conventional monetary policy in China, focusing on the
interaction between monetary and fiscal policy given the unique institutional set-up for …

Studying China's credit market using a structural default model that integrates credit risk,
liquidity, and bailout, we document improved price discovery and a deepening divide …

扩张表征的基础设施建设需求冲击对行业资源配置效率的影响. 实证结果表明,
地方政府债务显著降低了与基建关联度较高的制造业行业资源配置效率, 该结论在使用模拟的 …

The role of government-driven investment in improving environmental quality has long been
an essential concern of environmental research. Using a spatial difference-in-differences …

This paper provides analytic guides to recent literature on China's macroeconomic
development, emphasizing the critical role of the gradualist reform approach. Our analysis …

During episodes such as the global financial crisis and the Covid-19 pandemic, China
experienced notable fluctuations in its GDP growth and key expenditure components. To …

China's housing prices have been growing rapidly over the past few decades, despite low
growth in rents. We study the impact of housing bubbles on China's economy, based on the …

The widespread adoption of digital technologies has spurred many organizations to embark
on digital transformation initiatives. This study explores the impact of digital transformation …

This paper analyses the disaster emergency public investment performance against the
background of carbon emissions using the super-efficiency DEA and Malmquist models …

We investigate how cadre incentives within political organizations affect innovation activities
in China. Analyzing prefecture-level data between 2006 and 2015, we find that prefecture …