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The Fifth Symposium (Winter Camp) on New Structural Economics Successfully Concluded

The Institute of New Structural Economics at Peking University (INSE) hosted the Fifth Symposium (Winter Camp) on New Structural Economics (NSE) from December 15 to 18, 2019 in Beijing. Inaugurated in 2015, the annual symposium demonstrates the theoretical framework, latest research and database construction outcome, and future research prospects of NSE. This 5th edition of the symposium brings together well-known economists and young researchers at home and abroad to discuss issues related to NSE to deepen NSE research.

Winter Camp

The Ninth International Workshop on NSE Successfully Concluded

The Ninth International Annual Workshop on New Structural Economics (NSE) was successfully held online on August 2, 2022. The Workshop, hosted by the Institute of New Structural Economics (INSE) at Peking University, brought together worldwide scholars to exchange research ideas and findings on three main subjects including “Resource Allocation, Productivity, and Market Efficiency”, “Regions, Industries, and Macroeconomics” and “Growth and Political Economy.”

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The science of growth, development, and context

TWAS Fellow and economist Justin Yufu Lin visited TWAS headquarters in Trieste, Italy, on 8 May 2023. An expert on economic development, he discussed the Academy’s unique role as an institution dedicated to strengthening global South science, and shared his expert perspective on approaches to help nations economically grow.

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09/25:Does Bank FDI Promote Firm FDI? Evidence from China's Outbound Multinational Activity
Venue：359s, Overseas Exchange Center, Peking University
Speaker：Tomoo Kikuchi

We investigate the relationship between bank FDI and manufacturing firm FDI using a detailed firm-level dataset on outbound multinational activity from China that was contemporaneous with the global expansion of China's Big-5 banks. Adopting an event study approach that exploits information on years of entry across potential host countries, we find that the establishment of a Big-5 bank subsidiary or branch is associated with a significant increase in subsequent years in Chinese firms' likelihood to establish an overseas subsidiary in that host country. We present tests - including an instrumental variables strategy - that build a case that the relationship from China's bank FDI to firm FDI is causal in nature. We discuss supporting evidence to show that China's bank presence abroad serves to facilitate the financing needs of Chinese firms' overseas subsidiaries. The findings speak to a nexus between the internationalization of a country's banks and the ability of that country's firms to engage in multinational activity abroad.

09/22:Competition for College Admissions, Human Capital Investment, and Intergenerational Mobility
Venue：359s, Overseas Exchange Center, Peking University
Speaker：Lichen Zhang

College is often considered as an engine of intergenerational mobility of socioeconomic status. Yet whether children from disadvantaged backgrounds are able to move up the economic ladder through college largely depends on the college selection process, which has key implications for both inequality of outcomes and inequality of opportunities.

This paper studies the impacts of various college admission policies, specifically ability-based vs. tuition-based, on sources of lifetime inequality and intergenerational mobility where households compete against each other for limited college seats. To do so, we develop a heterogeneous-agent life-cycle model with endogenous human capital formation, where parents invest in child’s human capital for multiple periods. The college admission stage links three key dimensions of early childhood development—(1) child innate ability, (2) parental investment, and (3) family transfers for tuition—to adult labor market outcomes, as workers with college degrees enjoy higher returns to human capital and wage growth paths over their life cycle.

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Institute of New Structural Economics