Homepage of Wang, Xiao

Welcome to my personal webpage!

I am a Professor in the School of Management and an Assistant Dean of International Institute of Finance at the University of Science and Technology of China. I received her Ph.D. in Economics from University of Wisconsin-Madison in 2011, M.A. in Economics in 2005 and B.A. in Economics in 2003 from Peking University. My primary research interests include international finance, international trade, and applied econometrics. My work has appeared in leading economics and finance journals including Journal of International Economics, Journal of Banking and Finance, and others. I received the Pushan Academic Award for Excellent Papers on International Economics in 2016.

Contact information

Xiao Wang

Department of Statistics and Finance, School of Management, University of Science and Technology of China

Room 1031, Management R&D building, East Campus of USTC

96 Jinzhai Road, Hefei, Anhui 230026, People’s Republic of China

Phone: +86-551-63600762

E-mail: iriswx@ustc.edu.cn

Homepage: http://staff.ustc.edu.cn/~iriswx

CV

Please check my updated version here: CV.

Research

My current research interests include international finance, international trade, corporate finance, development economics, and applied econometrics.

Publications

Selected peer-reviewed journal articles

• "Cheap US Dollar Credit: Panacea or Poison? Firm-level Evidence from Emerging Markets," with Steve Pak Yeung Wu and Haichun Ye. 2023. Accepted at Journal of Money, Credit and Banking.

• "It's All in the Stars: The Chinese Zodiac and the Effects of Parental Investments on Offspring's Cognitive and Noncognitive Skill Development," with Chih Ming Tan and Xiaobo Zhang, 2024. Economics of Transition and Institution Change, 32(3): 877-920.

• "Benefits of FDI Subsidies: The Role of Funding Sources," with Wontae Han and Jian Wang, 2024. Pacific Economic Review, 29:88-126.

• "Capital Account Liberalization and International Corporate Bond Issuance: Transaction-level Evidence from China," with Yongwen Luo and Ziyan Zhu, 2023. China & World Economy, 31(6):156-178.

• "FDI and Firm Productivity: The Role of Financial Constraints," with Wontae Han and Jian Wang， 2022. Journal of International Money and Finance, 124, 102623.

• "The Gravity of Intermediate Inputs in Productivity Spillovers: Evidence from Foreign Direct Investment in China," with Yiqing Xie， 2022. Review of International Economics, 30(2): 629-652.

• "A Machine Learning Approach to Forecasting Carry Trade Returns," with Xiao Xie, Yihua Chen, and Borui Zhao, 2022. Applied Economics Letters, 29(13): 1199-1204.

• "Do Banking System Transparency and Competition Affect Non-Performing Loans in the Chinese Banking Sector?" with Usman Bashir, Yugang Yu, Muntazir Hussain, Ahmed Ali, 2017, Applied Economics Letters, 24 (21): 1519-1525.

• "Benefits of Foreign Ownership: Evidence from Foreign Direct Investment in China," with Jian Wang, 2015, Journal of International Economics, 97 (2): 325-338.

• "Global Diversification and IPO Returns," with David Mauer, Song Wang and Yilei Zhang, 2015, Journal of Banking and Finance, 58: 436-456.

• "Trade Credit, International Trade Costs and Exports: Cross-Country Firm-Level Evidence," 2015, Applied Economics Letters, 22 (12): 993-998.

Policy articles

• "Foreign Direct Investment: Financial Benefits Could Surpass Gains in Technology," with Jian Wang and Janet Koech, 2015, Economic Letter, 10(9), 1-4.

Working papers

• "Favorable Tax Treatment for FDI firms and Foreign Ownership Wage Premium," with Wontae Han and Jian Wang. This draft: 2021.

• "Financial Constraints and Exports." First draft: 2012, this draft: 2015.

• "Can Bilateral Trade Explain Output Correlations?" First draft: 2011, this draft: 2014.

Teaching material

• Research and Paper

• Skill Set