Conference on China’s Financial Markets and the Global Economy
September 15-16, 2016, Bank of Finland, Helsinki, Finland
Venue: Bank of Finland Auditorium, Rauhankatu 19
Thursday, September 15
9.30-10.00 Registration and coffee
10.00-12.15 Session 1: Financing in China
Chair: Iikka Korhonen (Bank of Finland Institute for Economies in Transition)
Xian Gu (Central University of Finance and Economics), Haitian Lu (The Hong Kong Polytechnic University) and Iftekhar Hasan (Fordham University and Bank of Finland): How Lenders Evaluate Lawsuits? Evidence from Chinese Corporate Bond Market
Discussant: Laurent Weill (University of Strasbourg)
Bing Xu (Universidad Carlos III de Madrid): Permissible collateral, access to finance, and loan contracts: evidence from a natural experiment
Discussant: Mikko Mäkinen (Bank of Finland Institute for Economies in Transition)
G. Nathan Dong (Columbia University), Ming Gu (Renmin University of China) and Hua He (Cheung Kong Graduate School of Business): Market Regulation and Private Equity Placements in China
Discussant: Zuzana Fungáčová (Bank of Finland Institute for Economies in Transition)
12.15-13.15 Lunch
13.15-14.45 Session 2: The renminbi
Chair: Mikko Mäkinen (Bank of Finland Institute for Economies in Transition)
Daniela Marconi (Bank of Italy): Currency co-movements in Asia: the role of the Chinese Renminbi
Discussant: Jenni Pääkkönen (Ministry of Finance)
Yin-Wong Cheung (City University of Hong Kong and Bank of Finland Institute for Economies in Transition), Cho-Hoi Hui (Hong Kong Monetary Authority) and Andrew Tsang (Hong Kong Institute for Monetary Research): The Renminbi Central Parity: An Empirical Investigation
Discussant: Eleonora Granziera (Bank of Finland)
14.45-15.15 Break
15.15-16.45 Session 3: China’s monetary policy
Chair: Laura Solanko (Bank of Finland Institute for Economies in Transition)
Naoyuki Yoshino (Asian Development Bank Institute) and Stefan Angrick (National Graduate Institute for Policy Studies): Quantities and Prices in China’s Monetary Policy Transmission
Discussant: Riikka Nuutilainen (Bank of Finland Institute for Economies in Transition)
Hongyi Chen (Hong Kong Institute for Monetary Research), Kenneth Chow (Hong Kong Institute for Monetary Research) and Peter Tillmann (Justus Liebig University Giessen): The Effectiveness of Monetary Policy in China: Evidence from a Qual VAR
Discussant: Kari Heimonen (University of Jyväskylä)
17.00-18.00 Keynote 1
Michael Melvin (University of California, San Diego): The Future of Global Investing: what is old, what is new, and China's role
19.00 Dinner
Friday, September 16
9.00-10.00 Keynote 2
Kjetil Storesletten (University of Oslo): Firm Entry and Regional Growth Disparities: the Effect of SOEs in China
10.00-10.15 Break
10.15-12.30 Session 4: Finance and institutions in China
Chair: Yin-Wong Cheung (City University of Hong Kong and Bank of Finland Institute for Economies in Transition)
Diego Anzoategui (New York University), Mali Chivakul (European Central Bank) and Wojciech Maliszewski (International Monetary Fund): Financial Distortions in China: A General Equilibrium Approach
Discussant: Adam Gulan (Bank of Finland)
Iftekhar Hasan (Fordham University and Bank of Finland) and Yun Zhu (St. John’s University): Politics and Financial Flexibility: An Empirical Investigation
Discussant: Denis Davydov (University of Vaasa)
Zuzana Fungáčová (Bank of Finland Institute for Economies in Transition) and Laurent Weill (University of Strasbourg): Trusting banks in China
Discussant: Timo Korkeamäki (Hanken School of Economics)
12.30-13.30 Lunch
13.30-15.00 Session 5: Asian Financial Markets
Chair: Laurent Weill (University of Strasbourg)
Chang Shu (Bank for International Settlements), Dong He (International Monetary Fund), Jinyue Dong (BBVA) and Honglin Wang (Hong Kong Institute for Monetary Research): Regional pull vs global push factors: China and US influence on Asia-Pacific financial markets
Discussant: Mikael Juselius (Bank of Finland)
Soyoung Kim (Seoul National University) and Aaron Mehrotra (Bank for International Settlements): Effects of monetary and macroprudential policies – Evidence from Asia and Pacific
Discussant: Gene Ambrocio (Bank of Finland)