Faculty & Research
Before the abolition of Keju, local elites collected surtaxes that financed local public goods, but they were supervised by the state and could lose their candidacy for higher status if they engaged in corrupt behavior. This prospect of upward mobility (POUM) gave them incentives to behave well, which the abolition of the exam removed. Using a difference-in-differences strategy, Professors Weng Xi and Zhou Li-An and their coauthors from Peking University and University of Hong Kong find that prefectures with a higher POUM before the abolition experienced more incidents of anti-elite protests after the abolition. Forthcoming in The Journal of Economic History，a top journal in the field of economic history，this paper investigates the impact of the abolition of the civil service exam on rural local governance in early 20th century China.
Oct 25, 2021
"Intensified cost pressure has made it increasingly more urgent to ramp up policy support to safeguard the stable operation of hard-hit, smaller businesses," said Tang Yao, an associate professor of economics at Peking University's Guanghua School of Management.
Oct 18, 2021
At the 75th session of the United Nations General Assembly, President Xi pledged that China will make every effort to peak its carbonemissions before 2030 and achieve carbonneutrality before 2060. Recently, dean Liu Qiao noted in China Daily that to achieve this goal, China must focus on digitaltransformation, of which the high cost will create significant investment opportunities. These opportunities will contribute to the short-term development of the Chinese economy and the long-term development of China's overall socioeconomic development. Both macro policies of the government and support from micro market subjects are essential to carbon neutrality.
Oct 11, 2021
In a recent paper forthcoming at RAND Journal of Economics, Professors Xi Weng and Li-An Zhou and their coauthors exploit the staggered entry of two dockless bike-sharing firms to study whether the entrant expands or steals the market from the incumbent firm. Compared with the cities without entry, the entry helps the incumbent to serve more trips, make more bike investment, achieve higher revenue per trip, improve bike utilization, and form a wider and more dispersed network. The market-expanding effect on new users dominates a significant market-stealing effect on old users. These findings, plus a theory that highlights consumer search and network effects, suggest that a market with positive network effects and multi-homing users is not necessarily winner-takes-all.
Sep 28, 2021
Companies in the era of digital economy have access to comprehensive and detailed data of consumers, which, together with the rapid development of targeting technology, has allowed them to send personalized messages to their potential customers. But why are we still constantly overwhelmed by seemingly ill-targeted messages? In a recent research paper published in the RAND journal of E...
Sep 23, 2021
For a long time, we have not hesitated to praise our mothers with noble phrases such as "selflessness", "giving" and "dedicated". Even so, we may have greatly underestimated the huge cost associated with the role of "mother". How difficult is it to be a mother in modern society? Professor Jin Li and Professor Wang Hui analyze this question from an economic perspective.
Sep 8, 2021
Can you imagine that households tend to buy the stocks of firms near where they live? What factors may influence such decision? Professor Jiangmin Xu, collaborated with other scholars, found out the mystical role of proximity behind the local bias puzzle.
Sep 3, 2021
Will people feel more risk after experiencing catastrophic disasters? While the intuitive answer is yes, a recent study by Prof. Yu-Jane Liu shows that earthquake survivors might feel less risk after their “lucky” experience of earthquakes that caused lower-than-expected casualties.
Aug 17, 2021
As semi-annual data highlights China's continued post-Covid-19 recovery, Guanghua's Dean Liu Qiao reviews the trio of investment, import and consumption as primary growth-driving forces and recommends policies to address structural issues in the later half.
Jul 19, 2021
Mundane as it is, housework is often the trigger of existential debates among married couples. Guanghua professor Fu Guoqun studies the connection between couples’ division of labor and their intention to buy home appliances, explaining why adverts stressing housekeeping hardships are more effective.
Jul 15, 2021