• 2013: Macroeconomic Risk and Currency Risk Premia

• 2023: The Long-Run Risk of the Dollar Safety Premium

• 2013: China’s Banking System: Future Reform Needs and Prospects
• 2011: The Case for ‘Hands On’ Financial Regulation in Hong Kong
• 2009: Hong Kong’s Transition to a Services-Based Economy
• 2007: Government and Banking in the Context of Overall Economic Policies in Hong Kong 1945-85
• 2005 - 2006: Historical Study of Hong Kong Banking Policy

• China’s Banking: How Reforms Lost Momentum
• The Local Government Crisis 2007-2014: When China’s Financial Management Faltered
• China’s LGFV Crisis 2011: The Conflict between Local Autonomy, National Interest and Financial Reforms
• China’s Financial Reforms: Why Dysfunctional Banking Survives
• The Global Crisis: Why Laisser-faire Hong Kong Prefers Regulation
• The Global Crisis: Fatal Decisions – Four Case Studies in Financial Regulation
• The Global Crisis: Why Regulators Resist Reforms
• A Fragile Prosperity: Government Policy and the Management of Hong Kong’s Economic and Social Development
• Painful Transitions: The Impact of Economic Growth and Government Policies on Hong Kong's 'Chinese' Banks, 1945-70
• Dangerous Business Models: Bankers, Bureaucrats & Hong Kong's Economic Transformation, 1948-86
• Government without Statistics: Policy-making in Hong Kong 1925-85, with special reference to Economic and Financial Management
• Crisis and Challenge: The Changing Role of the Hongkong & Shanghai Bank, 1950-2000

• 2015: The Chinese Household Response to Minimum Wage Increases
• 2013: Asset Allocation and Monetary Policy

• Asset Allocation and Monetary Policy: Evidence from the Eurozone

• 2013: Does Bank Monitoring Matter to Bondholders? (Joint project of Joel F. HOUSTON, Chen LIN, and Junbo WANG)

• Does Bank Monitoring Matter to Bondholders?

• 2013: The External Balance Sheets of China and Returns Differentials

• From the World’s Factory to a World Creditor: China’s External Wealth and Excess Returns, 1997-2016
• The Consumption Response to Minimum Wages: Evidence from Chinese Households

• 2013: China’s Fundamental Covariance
• 2007: Aggregation and Elasticity Pessimism

• Elasticity Optimism

• 2013: (1) Global Banking and Financial Shock Transmission; (2) The Impact of Foreign Banks on the Domestic Banking Sector and Economy in Asia during the Crisis of 2008-9

• The Role of Foreign Banks in Monetary Policy Transmission: Evidence from Asia during the Crisis of 2008-9
• Multinational Banking and Financial Contagion: Evidence from Foreign Bank Subsidiaries

• 2018: Complexity of global banks and their foreign operation in Hong Kong
• 2013 - 2014: Liquidity Management of Foreign Banks in Hong Kong
• 2003 - 2004: Is There a Lending Channel Monetary Policy Transmission in Hong Kong

• The International Transmission of Shocks: Foreign Bank Branches in Hong Kong during Crises
• Operating Performance of Banks among Asian Economies: An International and Time Series Comparison
• The X-Efficiency of Commercial Banks in Hong Kong
• Impact of Deposit Rate Deregulation in Hong Kong on the Market Value of Commercial Banks

Dr. Simon Kwan is Senior Advisor at the Federal Reserve Bank of San Francisco. He is responsible for evaluating financial stability risks, both locally and nationally, with a focus on identifying and monitoring areas of emerging systemic risk in the financial system and serving as a source of expertise for policy makers as well as bank examiners and supervisors.

Kwan has a wealth of expertise on issues pertaining to financial stability, macroprudential supervision, credit market conditions and risk, and bank regulation, expertise gained from years of experience within the Federal Reserve System, at the Sveriges Riksbank (the central bank of Sweden), and in academia.

Prior to joining the Cleveland Fed, Kwan was Head of Research and Modelling in the Financial Stability Department at the Sveriges Riksbank in Stockholm, Sweden from 2015 to 2016. Kwan started his central banking career by joining the Federal Reserve Bank of San Francisco as an economist in 1995, and he worked his way up the ranks to Vice President, Head of Financial Research, and, Senior Research Advisor.

• 2018: The potential use of RMB as a currency for trade invoicing and international payment in the Belt and Road countries
• 2013: The Potential of the RMB to be a Major Invoicing Currency

• Invoicing Currency in International Trade: An Empirical Investigation and Some Implications for the Renminbi

• 2013: The Relationships between Shadow Banking Products and Interest Rates

Research Topic:

• 2024: Dating Housing Bubbles in Hong Kong
• 2017: China’s Yield Curve and Monetary policy
• 2012 - 2013: Speculation or Macro Fundamentals as a Source of Commodity Futures Price Volatility in China: A GARCH-MIDAS Approach
• 2010: Central Bank Communication and Financial Markets in China
• 2008 - 2009: Information Content of Order Flow and Cross-Market Flight Behaviour: Evidence from the Chinese Stock and Bond Markets

• Fundamentals and the Volatility of Real Estate Prices in China: A Sequential Modelling Strategy
• China’s Monetary Policy Communication: Money Markets not only Listen, They also Understand
• Information Content of Order Flow and Cross-market Portfolio Rebalancing: Evidence for the Chinese Stock, Treasury and Corporate Bond Markets

• 2016: Quantifying Financing Needs in “Belt and Road” Countries and Industries
• 2015: Banking Deregulation, Competition and Bank Earnings Management
• 2013: Does Bank Monitoring Matter to Bondholders? (Joint project of Joel F. HOUSTON, Chen LIN, and Junbo WANG)
• 2011: Bank Regulation, Supervision and Bank’s Risk Takings: Evidence from Financial Crisis

• Quantifying Financing Needs in the Belt and Road Countries and Industries
• Financial Flexibility and Corporate Cash Policy
• Competition and Bank Opacity
• Does Bank Monitoring Matter to Bondholders?
• Regulatory Arbitrage and International Bank Flows
• Financial Innovation: The Bright and the Dark Sides

Chen Lin is the Stelux Professor in Finance, Chair Professor of Finance and the Associate Dean (Research) of the Faculty of Business and Economics at the University of Hong Kong. He is also the Director of the Center of Financial Innovation and Development at the University of Hong Kong. Before joining HKU, he was on the finance faculty at the Chinese University of Hong Kong (CUHK), where he became a Full Professor in Finance in 2010 and the Choh-Ming Li Professor in Finance in 2012. He received his Bachelor of Engineering from the South China University of Technology in 2000 and a MBA (2004), M.A. (2005) and Ph.D. (2006) from Warrington College of Business Administration, University of Florida. His research interests include banking and financial institutions, corporate finance, financial contracting, financial regulation, and development economics. He has published more than twenty papers in leading academic journals such as Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Accounting Research, Management Science, Journal of Public Economics and Journal of Development Economics. He also published in Journal of Corporate Finance, Journal of Banking & Finance, Journal of Risk and Insurance, Journal of International Money and Finance, Journal of Comparative Economics, Journal of Regulatory Economics, Review of Industrial Organization, and others. His papers received various awards such as the Jensen Prize (First Prize) for the Best Papers Published in the Journal of Financial Economics in the Areas of Corporate Finance and Organizations, the Chicago Quantitative Alliance Asian Academic Competition Research Paper Award, the Hong Kong Asian Capital Market Research Prize awarded by CFA Institute and HKSFA, and two Best Paper Awards at the 9th International Conference on Asia-Pacific Financial Markets. He was also awarded the Changjiang Scholar Chair Professorship by the Ministry of Education of China in 2013. He was also ranked among the Top 20 young economists by IDEAS in 2014. He is the Principal Investigator of several RGC Competitive Earmarked Research Grants and a Co-Principal Investigator of a RGC Theme-based Research Grant, the first large-scale, theme-based business research grant in Hong Kong. His works and views have been presented in top finance conferences such as American Finance Association annual conference, European Finance Association annual conference and Western Finance Association annual conference, and various conferences held by institutions such as Asian Development Bank, the Bank of International Settlement, China Banking Regulatory Commission, China Security Regulatory Commission, Hong Kong Monetary Authority, International Monetary Fund, the Federal Reserve Banks, National Bureau of Economic Research and the World Bank and covered by BBC World TV, Bloomberg, Foreign Policy, Financial Times, Harvard Law School Forum on Corporate Governance and Financial Regulation, China Daily, CFA Digest, Hong Kong Satellite TV, Phoenix Satellite TV, VoxEU, Wall Street Journal (Real Time Economics) and World Bank Doing Business Report. He serves as a panel member of the Research Grant Council of Hong Kong and the RAE exercise conducted by University Grants Committee of Hong Kong. He was also a research fellow at the Hong Kong Institute for Monetary Research (HKIMR).

• 2017: Monetary and Financial Spillovers to East Asia
• 2013: How Adoption and Diffusion of New Financial Instruments Influences the Development of Asian Financial Centres
• 2011: How did Asian Firms Manage to Invest and Grow during the Financial Crisis and the Global Downturn?
• 2008: Factors Determining the Willingness and Ability of Asian Firms to Access Financial Markets
• 2007: Credit Channel of Monetary Transmission in Asian Economies
• 2005: Corporate Finance under Low Interest Rates in Asia
• 2004: Effects of Interest Rate on the Financing of the Corporate Sector in Hong Kong

• Exploring Determinants of Firms’ Participation in the New Offshore Renminbi Debt Securities Market
• Investment and Asset Growth of Asian Firms: Evidence for Financial Resilience in the Recent Financial Crisis
• What Effect Has Bond Market Development in Emerging Asia Had on the Issuance of Corporate Bonds?
• Evidence on the External Finance Premium from the US and Emerging Asian Corporate Bond Markets
• An Open Economy Model of the Credit Channel Applied to Four Asian Economies
• Corporate Finance Under Low Interest Rates: Evidence from Hong Kong

Professor Mizen has been a member of staff in the School of Economics at Nottingham since 1992. His research field is monetary and financial economics with an interest in the transmission mechanism of monetary policy and corporate finance. This covers research into the demand for monetary and credit aggregates, the financial behaviour of the corporate and household sectors of the UK economy, the relation between financial asset flows and real expenditure, corporate financing and the recent financial crisis. Currently Professor Mizen is investigating the effects of monetary policy on access to credit by firms and the consequences for households of increased borrowing and debt following the turmoil in financial markets. Professor Mizen has held research positions at the Federal Reserve (2008), European Central Bank (2003, 2004), the Bank of England (1997-2000), the International Monetary Fund (1995, 1996, 1999), and a number of universities. In 2002-03 he was Jean Monnet Fellow at the European University Institute, Florence. He is the co-author of Monetary Economics, Oxford University Press, with Mervyn K. Lewis, the Editor of the Festschrift for Professor C.A.E.Goodhart (Edward Elgar) and editor of Recent Developments in Monetary Policy (Edward Elgar) with K Alec Chrystal. Professor Mizen is Director of the Centre for Finance and Credit Markets (CFCM) and a Fellow of The Granger Centre for Time Series Econometrics.

• 2013: Are Financially Constrained Firms More Affected by Monetary Policy Shocks? Cross-Sectional Identification through Impossible Trinity and Hong Kong Stock Returns

• 2013: China’s Capital Controls and the Volatility of Capital Flows

• Measuring the On-Going Changes in China’s Capital Flow Management: A De Jure and a Hybrid Index Data Set

• 2015: Intermediate Input Imports and Innovation: Evidence from Chinese Firms
• 2013: Managerial Capacity, Export Product Scope and Trade Liberalization: Theory and Evidence from China

• Effects of Intermediate Input Tariff Reduction on Innovations in China
• Multiproduct Firms, Export Product Scope, and Trade Liberalization: The Role of Managerial Efficiency

• 2017: State-dependent effects of macro-prudential and monetary policy
• 2013: Decomposing the Credit Cycle

• The Macroeconomic Effects of Macroprudential Policy
• Betting the House
• The Great Mortgaging: Housing Finance, Crises, and Business Cycles

• 2013: Can Liquidity Creation Predict Distressed Banks?
• 2002 - 2003: Prediction of Bank Failures Using Macro and Micro Data

• Performance Analysis of Liquidity Indicators as Early Warning Signals

• 2013: Measuring Chinese Monetary Policy

• What Measures Chinese Monetary Policy?

• 2013: Does Bank Monitoring Matter to Bondholders? (Joint project of Joel F. HOUSTON, Chen LIN, and Junbo WANG)

• Does Bank Monitoring Matter to Bondholders?

• 2014: Transport Infrastructure and the Real Exchange Rate with Application to Asia
• 2011 - 2013: Are Some Forms of Capital Flows Riskier Than Others? Lessons from the 2008-2009 Global Financial Crisis
• 2009 - 2010: How Sustainable Is China’s High Savings Rate?
• 2008 - 2009: Does Leapfrogging in Export Sophistication Raise Economic Growth? Evidence from China and Other Countries

• Roads and the Real Exchange Rate
• A Theory of the Competitive Saving Motive
• The Chinese Corporate Savings Puzzle: A Firm-Level Cross-Country Perspective
• Give Credit where Credit is Due: Tracing Value Added in Global Production Chains
• Domestic Institutions and the Bypass Effect of Financial Globalization
• The Composition Matters: Capital Inflows and Liquidity Crunch during a Global Economic Crisis
• The Value of Making Commitments Externally: Evidence from WTO Accessions
• A Faith-based Initiative: Does a Flexible Exchange Rate Regime Really Facilitate Current Account Adjustment?
• Corruption and Cross-Border Investment in Emerging Markets: Firm-Level Evidence
• Does Insider Trading Raise Market Volatility?
• Offshore Investment Funds: Monsters in Emerging Markets?

Shang-Jin Wei has been appointed as the New Century Chair in International Economics and Senior Fellow by the Brookings Institution since July 1, 2000. Before that, he had been on the faculty of Harvard University for eight years, first as an assistant professor of public policy and then an associate professor of public policy at the Kennedy School of Government. He is concurrently a research fellow at the National Bureau of Economic Research (Cambridge, USA), Centre for Economic Policy Research (London, UK), and Harvard University's Center for International Development.

An expert in international finance, open-economy macroeconomics, international trade and investment, and reform strategies in transition economies, he has published scholarly articles in top academic journals, including Quarterly Journal of Economics, Review of Economics and Statistics, American Economic Review, European Economic Review, Journal of International Economics, Journal of Development Economics, Brookings Papers on Economic Activity, and Canadian Journal Economics. He has published two books, and contributed many chapters in other books.

Many of his research outcomes have useful policy implications and have been reported in eleven different newspapers and magazines, including most recently the Financial Times (November 17, 2000; May 30, 2000; and June 23, 1997), Economist magazine (September 9, 2000; January 16, 1999; and August 2, 1997), Time magazine (June 22, 1998), Business Week (January 12, 1998, and December 1997), and Hong Kong Economic Daily (October 18, 2000). His anti-corruption reform proposal, "Special Governance Zones," (with others) received a First-prize People's Choice Award at the second international Innovation Marketplace competition sponsored by the World Bank on February 8-9, 2000.

• 2012 - 2013: Sovereign Debt Market Integration and the Effect of the Sovereign Debt Crisis of 2009-2012

• The anatomy of sovereign risk contagion

• 2019: Private Mortgage Securitization and Loan Origination Quality - New Evidence
• 2016: Land Value, Mortgage Default Risk, and Macroprudential Policies
• 2012 - 2013: Bubbles and Monetary Policy

• Land Share, Mortgage Default, and Loan-to-Value Ratio as a Macro-Prudential Policy Tool
• Asset Price Bubbles and Monetary Policy