This article discusses China's initiatives and strategies concerning free trade agreements (FTAs). China has made considerable progress since 2000 in advancing framework agreemetns with a number of economies and regions. (Chin Econ/NIAS-Han)

Using a sample of 161 global banks in 23 countries, we examine the applicability of structural models and bank fundamentals to price global bank credit risk. First, we find that variables predicted by structural models (leverage, volatility, and risk-free rate) are significantly associated with...

This paper develops a theoretical framework in which asset linkages in a syndicated loan agreement can infect a healthy bank when its partner bank fails. We investigate how capital constraints affect the choice of the healthy bank to takeover or liquidate the exposure held jointly with the...

This article explores the imbalance between China's booming real estate market and the stock market, which has plunged over four years. Our empirical analysis shows that the two markets are systematically negatively related due to fund flows. (Chin Econ/NIAS-Han)