Second Research Workshop on China's Economy - May 18–19, 2017
- Organizers: Tao Zha, (Federal Reserve Bank of Atlanta and Emory University), Nan Li, (IMF-Research Department), and Hui He, (IMF-Institute for Capacity Development).
- Format: 40-minute presentation and 10-minute discussion with 20-minute general discussion at the conclusion of each session.
|Thursday, May 18|
Welcome and introductory remarks
Dr. David Altig, Executive Vice President and Director of Research, Federal Reserve Bank of Atlanta
Session I: Chinese Economy: Past, Present, and Future
Chair: Toni Braun, Federal Reserve Bank of Atlanta
|9:45||"The Economy of the People's Republic of China from 1953"
with Mikhail Golosov, Sergei Guriev, and Aleh Tsyvinski
Anton Cheremukhin, Federal Reserve Bank of Dallas [Presentation ]
Discussant: Yan Bai, University of Rochester [Presentation ]
with Urban Jermann and Vivian Yue
Bin Wei, Federal Reserve Bank of Atlanta [Presentation ]
Discussant: Mark Spiegel, Federal Reserve Bank of San Francisco [Presentation ]
"The Chinese Saving Rate: Analytics and Prospects"
Longmei Zhang, International Monetary Fund China Economist [Presentation ]
Discussant: Michel Soudan, European Central Bank China Economist [Presentation ]
|Open floor for general discussion|
Session II: State Capacity and Local Accountability
Chair: Dan Waggoner, Federal Reserve Bank of Atlanta
|2:15||"Political Factions, Local Accountability, and Economic Performance: Evidence from Chinese Provinces"
with Linke Hou, Mingxing Liu, Colin L. Xu, and Pengfei Zhang
Hanming Fang, University of Pennsylvania [Presentation ]
Discussant: Ruixue Jia, University of California, San Diego [Presentation ]
|3:05||"The Short- and Medium-Run Effects of Computerized VAT Invoices on Tax Revenues in China" (Preliminary)
Nancy Qian, Northwestern University [Presentation ]
Discussant: Jessica Leight, Williams College [Presentation ]
|3:55||Open floor for general discussion|
Maurice Obstfeld, Economic Counsellor and Director of Research, International Monetary Fund
(45-minute talk and 15-minute Q&A)
|Friday, May 19|
|8:30 a.m.||Continental breakfast|
Session III: Innovation and Growth
Chair: Lei Fang, Federal Reserve Bank of Atlanta
|9:00||"From 'Made in China' to 'Innovated in China': Necessity, Prospect, and Challenges"
with Shang-Jin Wei and Zhuan Xie
Xiaobo Zhang, Peking University [Presentation ]
Discussant: Jing Cai, University of Maryland [Presentation ]
|10:10||"From Imitation to Innovation: Where Is All that Chinese R&D Going?"
with Michael König, Zheng Song, and Fabrizio Zilibotti
Kjetil Storesletten, University of Oslo [Presentation ]
Discussant: Simon Alder, University of North Carolina [Presentation ]
|11:00||"China's Rising IQ (Innovation Quotient) and Growth: Firm-Level Evidence"
with Hui He and Jing Fang
Nan Li, International Monetary Fund, Research Department [Presentation ]
Discussant: Daniel Xu, Duke University[Presentation ]
|11:50||Open floor for general discussion|
|Session IV: Local Government Debt and Financial Risk
Chair: Kris Gerardi, Federal Reserve Bank of Atlanta
|1:20||"The Speculation Channel and Crowding Out Channel: Real Estate Shocks and Corporate Investment in China"
with Ting Chen, Laura Liu, and Li-An Zhou
Wei Xiong, Princeton University [Presentation ]
Discussant: Andrew MacKinlay, Virginia Tech [Presentation ]
|2:10||"The Financing of Local Government in China: Stimulus Loan Wanes and Shadow Banking Waxes"
with Zhuo Chen and Chun Liu
Zhiguo He, University of Chicago Booth [Presentation ]
Discussant: Jennifer Carpenter, New York University [Presentation ]
|3:15||"The Great Wall of Debt: Real Estate, Corruption, and Chinese Local Government Credit Spreads"
with Andrew Ang and Hao Zhou
Jennie Bai, Georgetown University [Presentation ]
Discussant: Yongxiang Wang, University of Southern California [Presentation ]
|4:05||Open floor for general discussion|