China
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- 08 Dec 2020
- Working Paper Summaries
Party-State Capitalism in China
China’s political economy has evolved from “state capitalism” to a distinctly party-driven incarnation. Party-state capitalism, via enhanced party monitoring and industrial policy, deepens ambiguity between the state and private sectors, and increases pressure on foreign capital, prioritizing the regime’s political survival above all.
- 14 Jul 2020
- Research & Ideas
Restarting Under Uncertainty: Managerial Experiences from Around the World
A survey of 50 companies across countries and industries reveals business leaders are hard at work adapting to the COVID threat. Research by Raffaella Sadun and colleagues. Open for comment; 0 Comments.
- 18 Jun 2020
- Working Paper Summaries
The Rise of the Investor State: State Capital in the Chinese Economy
Researchers document and explain the rise of a novel form of intervention on the part of the Chinese state: the expansion of state capital beyond ownership of state firms.
- 07 May 2020
- Research & Ideas
The One Good Thing Caused by COVID-19: Innovation
Hong Luo and Alberto Galasso see risk-mitigating innovation everywhere the virus spreads. Open for comment; 0 Comments.
- 05 May 2020
- Research & Ideas
China Tariffs and Coronavirus a Double Hit to American Retailers
American retailers have yet to pass along higher prices caused by Chinese tariffs, but shrinking product demand caused by the coronavirus could change that, warns Alberto Cavallo. Open for comment; 0 Comments.
- 06 Apr 2020
- Research & Ideas
Where Do Workers Go When the Robots Arrive?
Marco Tabellini and colleagues investigate where workers go after losing their jobs to automation and Chinese imports. Open for comment; 0 Comments.
- 17 Mar 2020
- Cold Call Podcast
Is There a Winner in Huawei’s Digital Cold War with the US?
Bill Kirby discusses his case study of China-based Huawei’s growth and ultimate confrontation with the United States government, and China's response to the coronavirus. Open for comment; 0 Comments.
- 12 Nov 2019
- Working Paper Summaries
Tariff Passthrough at the Border and at the Store: Evidence from US Trade Policy
Collecting and analyzing microdata on prices and the reaction of importers, retailers, and exporters to US trade policy since 2018, this study finds most of the tariffs’ incidence rests with the US firms.
- 14 Oct 2019
- Working Paper Summaries
Undisclosed Debt Sustainability
Presenting a scenario in which non-Paris Club lending and borrowing is fully disclosed, this study illustrates that transparency has potential effects of decreased debt sustainability for investors such as China, and significant welfare gains for recipient countries. Effects are particularly strong if the debt is large.
- 10 Aug 2019
- Working Paper Summaries
Varieties of Outward Chinese Capital: Domestic Politics Status and Globalization of Chinese Firms
Most popular and scholarly writing about China’s global push overemphasizes the power of the state. This paper explains how three types of domestic Chinese capital—state capital, private capital, and crony capital—differ in political vulnerability and pursue globalization in different ways. All prefer capital openness, but they do so for different reasons.
- 31 Jan 2019
- Cold Call Podcast
How Wegmans Became a Leader in Improving Food Safety
Ray Goldberg discusses how the CEO of the Wegmans grocery chain faced a food safety issue and then helped the industry become more proactive. Open for comment; 0 Comments.
- 04 Oct 2018
- Working Paper Summaries
Corruption, Government Subsidies, and Innovation: Evidence from China
Governments subsidize a growing number of innovation efforts, many of which may face the challenge of corruption. Using Chinese data, this study finds corruption-related distortions in government R&D subsidies, which diminished after the 2012 anti-corruption campaign and rotation of provincial officials. It provide insights for designing effective R&D subsidy programs.
- 06 Sep 2018
- Cold Call Podcast
Should US Companies Still Care About the Paris Climate Change Agreement?
American President Donald Trump pulled out of the 2015 Paris agreement on climate change one year ago. Vincent Pons discusses what it means for US business leaders in confronting environmental challenges. Open for comment; 0 Comments.
- 04 Sep 2018
- Working Paper Summaries
Some Facts of High-Tech Patenting
This study details the growth of patenting in software, cloud computing, artificial intelligence, and related technologies in the twenty-first century, and the continuing dominance of inventors in large US, Japanese, and Korean companies. Researchers still need to understand the impact of such trends on social welfare more generally.
- 12 Apr 2018
- Op-Ed
Op-Ed: The Trouble with Tariffs
The world's economies are interconnected by globalization, which makes threats of tariff wars doubly dangerous, says Willy Shih. Open for comment; 0 Comments.
- 29 Mar 2018
- Working Paper Summaries
Government Incentives and Financial Intermediaries: The Case of Chinese Sell-Side Analysts
This study is the first to examine analysts’ incentives vis-à-vis the government in a context where government has the ability and motives to influence capital market institutions. The paper highlights the role of government incentives in analysts’ behavior and output.
- 06 Feb 2018
- Working Paper Summaries
Subjectivity in Tournaments: Implicit Rewards and Penalties and Subsequent Performance
Analyzing data from a Chinese manufacturing company, this study explores side effects of subjective performance evaluations in a setting where workers are rewarded based on performance rankings and subject to both rewards and penalties. Among other contributions the paper highlights factors that could impact the overall effectiveness of incentive systems.
- 13 Jul 2017
- Working Paper Summaries
Catering Through Disclosure: Evidence from Shanghai-Hong Kong Connect
The researcher studies firms’ use of disclosure to build investor confidence when they operate in a market where the institutions that support the supply of credible information are weak.
- 20 Apr 2017
- Cold Call Podcast
Making Health Insurance That Consumers Actually Like
By motivating its insurance customers to take care of themselves, South African firm Vitality has expanded to the United Kingdom and China. In this podcast, Professor Regina Herzlinger discusses potential impacts of this model for health care in the United States. Open for comment; 0 Comments.
The Emergence of Mafia-like Business Systems in China
This study sheds light on the political pathology of fraudulent, illegal, and corrupt business practices. Features of the Chinese system—including regulatory gaps, a lack of formal means of property protection, and pervasive uncertainty—seem to facilitate the rise of mafia systems.