报告主题：Understanding Domestic Capital Flows in China: The Interplay between Market Friction and Government Distortion

报告时间：6月8日（周二）13:30-

报告地点：延安路校区旭日楼306教室

报告人：唐为  副教授

报告简介：Domestic factor market integration has been a policy priority in China’s recent economic reform. This paper documents some basic patterns of China’s domestic capital flow and examines major forces underlying these patterns. Specifically, we evaluate how China’s improvement in interregional transport network affect location choice of firm’s investment, and investigate whether this effect is determined by inter-jurisdictional borders. Based on a comprehensive dataset of transport network and investment information of listed companies in China, we find that improved transport connectivity across regions significantly facilitates the investment flows between cities, but the positive effect is mostly driven by city pairs within the same province. These findings indicate that transport connectivity does not necessarily facilitate national market integration. Rather, there is strong interactive effect between transport integration and administrative barriers. In this respect, central government should reduce market frictions and administrative barriers simultaneously in seeking domestic market integration.

报告人简介：唐为，上海财经大学公共经济与威廉希尔官网财政系副教授，博士生导师。研究方向为公共经济学、城市经济学，在《经济研究》、《经济学（季刊）》、Economics of Transition, Journal of Real Estate Finance and Economics, Papers in Regional Science等中英文期刊发表论文多篇。主持国家自然科学基金、教育部人文社科基金等多项课题。