Working Papers

Senior Fellows/Fellows

Leaving No One Behind: China's Central-Local Governments and Corporate Tripartite Collaboration to Reduce Poverty

Zhaowei CHEN, Andrew DELIOS, Bernard YEUNG

We examine China's Targeted Poverty Alleviation Program in a hierarchical central-local-corporation tripartite collaboration framework. It started in 2014 but made only slow progress initially. To help accelerate the program, the central government permitted full tax deductions for corporate anti-po...

Keywords: central-local-governments and corporate collaboration, political economy of poverty alleviation, corporate anti-poverty spending, tax deductions

Senior Fellows/Fellows

Disclosed Analyst Corporate Site Visits: Audit Adjustments and the Quality of Financial Statements and Analyst Forecasts

Lixin HUANG, Wei LI, Liansheng WU, Bernard YEUNG

In 2012, China’s Shenzhen Stock Exchange (SZSE) mandated that its listed firms fully reveal the content of any corporate site visits on SZSE’s public platform within two trading days after the visits. Shanghai Stock Exchange, China’s other stock exchange, does not impose the stringent disclosu...

Keywords: Corporate site visits, Audit adjustments, spillover effects, the quality of financial statements, the quality of analyst forecasts

AMPF Papers

Commissioned Paper

May 2024

Debt Supercycle versus Secular Stagnation

Kenneth ROGOFF

AMPF Papers

Policy Note

May 2024

Still Too Big to Fail?

Beatrice WEDER DI MAURO

After a decade of reforms aimed at ensuring no bank is too-big-to-fail, the collapse of Credit Suisse served as the first real-life test of this framework. A resolution following the international and Swiss too-big-to-fail framework would have involved recapitalizing Credit Suisse by bailing in all ...

Annual Conference

Labour Economics

May 2024

Differential Fertility and Economic Opportunity: Evidence from China’s One-Child Policy

Yewen YU, Yi FAN, Junjian YI

Using China's one-child policy (OCP) as a quasi-natural experiment, we demonstrate that differential fertility between socioeconomic groups exacerbates intergenerational income inequality. Rural or poorer families, who are less constrained by the OCP than urban or richer ones, tend to have more chil...

Keywords: Child quantity–quality trade-off, Differential fertility, Intergenerational transmission of inequality, One-child policy

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Leaving No One Behind: China's Central-Local Governments and Corporate Tripartite Collaboration to Reduce Poverty

Disclosed Analyst Corporate Site Visits: Audit Adjustments and the Quality of Financial Statements and Analyst Forecasts

Debt Supercycle versus Secular Stagnation

Still Too Big to Fail?

Differential Fertility and Economic Opportunity: Evidence from China’s One-Child Policy

ASIAN BUREAU OF FINANCE AND ECONOMIC RESEARCH (ABFER)