We study firms' incentives to acquire private information in a setting where subsequent competition leads to firms' later signaling their private information to rivals. Due to signaling, equilibrium prices are distorted, and so while firms benefit from obtaining more precise private information,...

This paper conducts a thorough data analysis using cross-sectional data from a study carried out in Mexico including over 16,500 observations. In the study, clusters were selected in areas Compartamos Banco, a Microfinance institution (MFI), has not lent in before. The clusters were randomly...

In this study, we examine the effect of introducing SSE 50ETF index options trading on stock market volatility using a panel data evaluation approach. Based on the cross-sectional dependence among international stock indices and macroeconomic indicators, we estimate the counterfactual volatility...

Using the data from the three waves (1995, 2002, and 2008) of the Chinese Household Income Project (CHIP), this paper investigates the impact of land tenure security on farmers' labor market outcomes in rural China. To identify the effect of land tenure security, this paper used...

Despite the high international consensus on the enormous potential of the Belt and Road Initiative for reconfiguring international relations in Eurasia and beyond, and the consequent attention raised by this strategy throughout the world, there are still many unanswered questions. The present...

This paper studies regional treatment effects of infrastructure projects on economic growth, employment and intermodal transport volumes. The recent Belt and Road Initiative provides an experiment that can be evaluated using matching econometrics. Our results show that the establishment of a new...

This paper studies the regional treatment effects of infrastructure projects on employment and transport volumes by combining the quantitative econometric method with qualitative case studies. The quantitative method that we use is synthetic control, which allows us to analyze the causal effects...

The petroleum refining sector is energy intensive and has been identified as one of the target industries for CO2 emissions control by China's emissions trading scheme. A detailed accounting of the cost of emissions reduction is of great significance for the petroleum refining sector to comply...

"One Belt, One Road" is an extensive and complex initiative whose potential effect and influence are still currently pending for answers. This paper addresses the following research question: What is the effect of the New Silk Road intercontinental railways on the trade between China and its...