Curriculum Vitae

(as of Sep 2018)

Contact Information

Department of Finance and Statistics,

Center for Education Economics and Statistics of China,

Institutes of National Accounts/School of Statistics,

Beijing Normal University,

No.19, Xinjiekou Outer Street, Haidian Dist, Beijing, 100875, P. R. China

Email: zhangxun@bnu.edu.cn

Website: http://xunzhang.weebly.com

Education

Ph.D.                          Economics, Peking University, 2015

Visiting Scholar     Department of Economics, New York University, 2012-2013

B.Sc.                          Statistics, Sun Yat-sen University, 2010

B.A.                           Finance, Sun Yat-sen University, 2010

Research Interest

National Accounts, Development Economics, Educational Economics, Digital Finance

Work Experience

2018-            Associate Professor, Beijing Normal University, China

2018             Visiting Scholar, George Washington University

2017-2018        Assistant Professor, Beijing Normal University, China

2015-2017        Post-Doc, Beijing Normal University, China

Honors and Awards

2. Second Prize of Best Papers Awarded by China Educational Development and Strategy Association, 2017.

4. Third Prize of Best Papers Awarded by China Industrial Economics Association, 2017.

6. Top-10 Chinese Papers for Open Macroeconomics in 2016.

8. Beijing Outstanding Graduates, 2015

10. Outstanding Graduates of Peking University, 2015

12. Third Prize of Key Research Projects of the People's Bank of China, 2014

Memberships

China Finance 40 Forum, Chinese Economists Society (CES), Econometric Society, Regional Science Association International (RSAI), Urban Economics Association

Publications in Economics

In English

2. Structural Change through Public Educational Expenditure: Evidence from China, Contemporary Economic Policy, in press.

4. Urban Pollution and Road Infrastructure: A Case Study of China, with Z. Luo, G. Wan and C. Wang, China Economic Review, 49, 171-183.

6. Technical Change and Income Inequality in China, with Z. Luo, G. Wan, and C. Wang, The World Economy, 2017, 40(11), 2378-2402.

8. China’s Investment and Rate of Return on Capital Revisited, with Y. Tang and J Xu, Journal of Asian Economics, 2017, 49, pp. 12-25.

10. Synthetic CDO Pricing: The Perspective of Risk Integration, with C. Hu and Q. Gao, Applied Economics, 2015, 47(15), pp. 1574-1587.

12. China’s Sovereign Debt: A Balance-Sheet Perspective, with J. Xu, China Economic Review, 2014, 31, pp. 53-73.

14. Aging and Inequality: The Link and Transmission Mechanisms, with Z. Luo, G. Wan, and C. Wang, Review of Development Economics, 2018, 22, pp 885-903.

16. Quantity of Finance and Financial Crisis: A Non-linear Investigation, with Z. He, J. Zhu, and J. Li, North American Journal of Economics and Finance, 2018, 44, pp. 129-139.

18. Road Infrastructure and the Share of Labor Income: Evidence from China’s Manufacturing Sector, with G. Wan and X. Wang, Economic Systems, 2017, 41, pp. 513-523.

20. Catching-up Cycle: A General Equilibrium Framework, with P. Liu and S. Jia, Review of Development Economics, 2017, 21(4), pp. 1327-1340.

22. Rural Infrastructure and China’s Inclusive Growth, with G. Wan, China Economist, 2017, 12(5), pp. 100-109.

24. Capital Structure Premium in Multinational SOEs: Evidence from China, with R. Zhang, Review of Development Economics, 2016, 20(1), pp. 283-293.

In Chinese

2. Urbanizing with Equity Consideration: Theory and Evidence from China, with Z. Luo, G. Wan, and J. Li, Economic Research Journal (Jingji Yanjiu), 2018, 7.

4. A Unified Framework of Road Infrastructure’s Growth Effect, with X. Wang, G. Wan, and F. Sun, Economic Research Journal (Jingji Yanjiu), 2018, 1, pp. 50-64.

6. Infrastructure and Firm Productivity, with R. Zhang and R. Dai, Management World (Guanli Shijie), 2018, 1, pp. 88-102.

8. Rural Infrastructure and Inclusive Growth in China (in Chinese), with G. Wan, Economic Research Journal (Jingji Yanjiu), 2016, 10, pp. 82-96.

10. Regional Economic Interactions in China: Knowledge Spillover or Technological Diffusion? (in Chinese), with K. Qiao, China Economic Quarterly (Jingjixue Jikan), 2016, 15(4), pp. 1629-1652.

12. Agricultural Productivity, Labor Migration, and Agriculture-industry Co-development (in Chinese), with J. Xu, Management World (Guanli Shijie), 2016, 7, pp. 76-87.

14. What Raises China’s Capital Return? (in Chinese), with J. Xu, China Economic Quarterly (Jingjixue Jikan), 2016, 15(3), pp. 1081-1112.

16. The Speculation of Chinese Warrant Market (in Chinese), China Economic Statistics Quarterly (Jingjitongjixue Jikan), 2016, 1, pp. 83-99.

18. The Catching-up Economies (in Chinese), with P. Liu and S. Jia, Management World (Guanli Shijie), 2015, 5, pp. 7-18.

20. The Effect of Infrastructure on Urban-rural Income Gap (in Chinese), with X. Liu and W. Fang, Journal of World Economy (Shijie Jingji), 2015, 3, pp. 145-170.

22. State Holding, Strategic Industries and Multinational Enterprises Capital Structure: Evidence from Chinese A-listed Companies (in Chinese), with D. Xiang and R. Zhang, Journal of Financial Research (Jinrong Yanjiu), 2015, 1, pp. 178-191.

24. China’s Capital Return Revisited (in Chinese), with J. Xu, Journal of World Economy (Shijie Jingji) (Leading Article), 2014, 8, pp. 3-23.

26. Rural Labor Migration and Household Saving Rate: The Perspective of Discrepancy in Income and Social Security (in Chinese), with X. Liu and G. Fan, Economic Research Journal (Jingji Yanjiu), 2014, 4, pp. 130-142.

28. Public Capital Spillovers in China’s Economic Growth (in Chinese), with W. Fang, Journal of Quantitative & Technical Economics (Shuliang Jingji Jishu Jingji Yanjiu), 2013, 12, pp. 126-139.

30. The Impact of Water Conservancy Infrastructure on Economic Growth and Its Mechanism, with R. Zhang, Public Finance Research (Caizheng Yanjiu), 2017, 10, pp. 30-42.

32. Large Country Effect of Infrastructure Investment and Its Mechanism (in Chinese), with X. Wang, Journal of Social Science of Hunan Normal University, 2017, 3, pp. 14-22.

34. China's Sovereign Debt: Situation, Investment and Risk Analysis (in Chinese), with J. Xu, South China Journal of Economics (Nanfang Jingji), 2013, 1, pp. 14-34.

36. Does Wealth Effect Exist in China? The Economic Factor for High Investment and Low Consumption (in Chinese), with C. Sun and Y. Sun, Modern Economic Science (Dangdai Jingji Kexue), 2013, 1, pp.16-20.

Publications in Other Fields

2. Traffic Accidents involving Fatigue Driving and Their Extent of Casualties, with G. Zhang, K. K. Yau and Y. Li, Accident Analysis and Prevention, 2016, 87, pp. 34-42.

4. Analyzing Fault and Severity in Pedestrian–motor Vehicle Accidents in China, with G. Zhang and K. K. Yau, Accident Analysis and Prevention, 2014, 73, pp. 141-150.

Working Papers

2. Fintech, Inclusive Finance, and Entrepreneurship: Evidence from China’s Household Survey Data.

4. Global Spatial Economic Interactions, with G. Wan.

6. Structural Change and Income Distribution, with G. Wan and C. Wang, ADBI Working Paper, No. 608.

8. Who Gains More from Which Infrastructure in Rural China, with G. Wan, ADBI Working Paper, No. 540.

10. Road Infrastructure, Market Integration, and Innovations: Evidence from China's Manufacturing Sector, with R. Dai and R. Zhang.

12. Inequality and Domestic Consumption: A Puzzle Explained, with Z. Luo, G. Wan, and C. Wang.

14. Testing Economic "Genetic Pleiotropy" For Box-Cox Linear Model, with Q. Jiang and X. Tong.

16. Urbanization, Learning by Doing, and Capital Return, with Z. Luo, G. Wan, and C. Wang.

Referee Service

China Economic Review, Economic Modelling, Economics of Transition, Economic Systems, Emerging Markets Finance and Trade, International Economic Journal, Journal of Economic Interaction and Coordination, Quantitative Finance, Economic Research Journal (in Chinese), China Economic Quarterly (in Chinese), Journal of World Economy (in Chinese), Journal of Financial Research (in Chinese), Public Finance Research (in Chinese)

Research Grants

2. National Natural Science Foundation of China (71603026), 2016.

4. Key Project of Beijing Education Science 13th Five-Year Plan (CAGA180).

6. Key Project of National Statistical Research (2017LZ21).

8. Research Grant Center for Urban Development and Land Policy, Lincoln Institute, Peking University.

10. Research Grants from Institute of Digital Finance, Peking University.

12. Research Grant from Center for New Structural Economics, Peking University.

14. Special Post-Doc Grant (2016T90048).

16. Key Post-Doc Grant (2015M580055).

18. Youth Scholars Program of Beijing Normal University (SKXJS2015011).

Cooperated Work

2. National Natural Science Foundation of China (71673028, 71603027).

4. Urbanization-Poverty-Inequality Triangle in Asia and the Pacific, Asian Development Bank.

6. The Risk Evaluation of the 13th Five Year, Development Research Center of the State Council of China.

8. The Driving Factors of China’s Investment and Its Long-term Trend, People’s Bank of China.

10. Building Resilience to Natural Disasters and Major Economic Crises, United Nations ESCAP.

Invited Lectures and Papers Presented

Aug 2018, “Is Fintech Inclusive? Evidence from China’s Household Survey Data” and “Who Gains from Which Infrastructure in Rural China”, IARIW 35th General Conference, Copenhagen, Denmark.

Jul 2018, “Is Fintech Inclusive? Evidence from China’s Household Survey Data”, Conference on Fintech, Credit and the Future of Banking, Rigi, Switzerland.

Jun 2018, “Structural Change through Public Educational Expenditure: Evidence from China” and “Road Infrastructure, Market Integration, and Innovations: Evidence from China's Manufacturing Sector”, WEA International’s 93rd Annual Conference, Vancouver, Canada.

May 2018, “Road Infrastructure, Market Integration, and Innovations: Evidence from China's Manufacturing Sector”, the 6th seminar on Asia and Pacific Economies, Xi’an Jiaotong-Liverpool University, Suzhou, China.

Mar 2018, “Road Infrastructure, Market Integration, and Innovations: Evidence from China's Manufacturing Sector”, Center for New Structural Economics, Peking University, Beijing, China.

Dec 2017, “Structural Change with Public Educational Expenditure: Evidence from China”, the 3rd Conference of China’s Educational Finance, Beijing, China.

Dec 2017, “Fintech, Inclusive Finance, and Entrepreneurship: Evidence from China’s Household Survey Data”, Conference on Digital Finance and China’s Economy, Institute of Digital Finance, Peking University, Beijing, China.

Nov 2017, “Structural Change with Public Educational Expenditure: Evidence from China”, workshop on “Public and Private Investment in Human Capital and Intergenerational Transfers in Asia”, Asian Growth Research Institute, Kitakyushu City, Japan.

Nov 2017, “Road Infrastructure, Market Integration, and Innovations: Evidence from China's Manufacturing Sector”, the Challenges of Managing and Modelling Innovation and Growth in China, Renmin University of China, Beijing, China.

Nov 2017, “Agglomeration, Ownership, and Productivity”, the 2017 Annual Conference of China’s Industrial Economic Society, Nanjing University of Finance and Economics, Nanjing, China.

Oct 2017, “Fintech, Inclusive Finance, and Entrepreneurship: Evidence from China’s Household Survey Data”, 2017 Shanghai Fintech Conference, Shanghai University of Finance and Economics, Shanghai, China.

Oct 2017, “Roads to Inventory”, Institute for Economic and Social Research, Jinan University, Guangzhou, China.

Sep 2017, “Agglomeration, Ownership, and Productivity”, Presented at the 17th China Youth Economists Forum, Jinan University, Guangzhou, China.

Sep 2017, “Global Spatial Economic Interactions”, 28th CEA (UK) and 9th CEA (Europe) Annual Conference, Manchester, the United Kingdom.

Aug 2017, “Urbanizing with Equity Consideration” and “Roads to Inventory”, European Regional Science Association Congress 2017, Groningen, the Netherlands.

Aug 2017, “Who Gains More from Which Infrastructure in Rural China?”, Leiden University, the Netherlands.

Aug 2017, “Inclusive Finance and Entrepreneurship”, Conference on Inclusive Finance in China, Institute of Digital Finance, Peking University, Yichun, China.

Jul 2017, “Roads to Inventory”, Center for New Structural Economics, Peking University, Beijing, China.

Jun 2017, “Roads to Inventory”, Business School, Beijing Normal University, Beijing, China.

Jun 2017, “Road Infrastructure and the Share of Labor Income: Evidence from China’s Manufacturing Sector”, School of Business Administration, Zhongnan University of Economics and Law, Wuhan, China.

Jun 2017, “Roads to Inventory”, 2017 China Meeting of the Econometric Society, Wuhan University, Wuhan, China.

Aug 2016, “Roads to Inventory”, Conference on Development, Trade and Investment, Stockholm School of Economics, Stockholm, Sweden.

Aug 2016, “Who Gains More from Which Infrastructure in Rural China?” European Regional Science Association Congress 2016, Vienna, Austria.

Jul 2016, “Inequality and Domestic Consumption: A Puzzle Explained”, Conference on Sources of Inequality in Asia, Asian Development Bank Institute, Tokyo, Japan.

Jul 2016, “Structural Change with Public Educational Expenditure: Evidence from China”, the 28th Annual Conference of Chinese Economics Society of Australia (CESA), Cairns, Australia.

Jul 2016, “Infrastructure, Market Integration, and Firm Productivity”, Presented at the 16th China Youth Economists Forum, University of International Business and Economics, Beijing, China.

Jun 2016, “Roads to Inventory”, WEA International’s 91th Annual Conference, Portland, USA.

Jun 2016, “Agricultural Productivity, Labor Migration, and Agriculture-industry Co-development”, China’s Macroeconomic Forum, Renmin University of China, Beijing, China.

Jun 2016, “Urbanization, Learning by Doing, and Capital Return”, Conference on Urbanization and Infrastructure in Asia, Asian Development Bank Institute and Central University of Finance and Economics, Beijing, China.

May 2016, “Agricultural Productivity, Labor Migration, and Agriculture-industry Co-development”, Conference on Rural Area, Agriculture, and Development, National School of Development, Peking University, Beijing, China.

May 2016, Conference on Internet Finance and New Economy in China, National School of Development, Peking University, Beijing, China.

Apr 2016, Conference on Middle-Income Trap in Asia and the PRC New Economic Normal, China & World Economy (China Academy of Social Sciences) and Asian Development Bank Institute, Beijing, China.

Dec 2015, “Roads and the Inventory”, Conference on One Belt One Road: Opportunities of Development for Shanghai and Hong Kong, Chinese University of Hong Kong, Hong Kong.

Dec 2015, “Who Gains More from Which Infrastructure in Rural China?”, Conference on Economic and Social Impacts of Infrastructure Projects: Workshop on Methods and Case Studies, Islamabad, Pakistan.

Nov 2015, “Structural Change and Regional Inequality”, Conference on Escaping the Middle-Income Trap, Asian Development Bank Institute, Tokyo, Japan.

Nov. 2015, “Catching-up Cycles”, Conference on Implications of a Possible PRC Growth Slowdown, Asian Development Bank Institute, Tokyo, Japan.

Oct 2015, “Urbanizing with Equity Consideration”, Conference on CCER Trade and Development, Yantai, China.

Sep 2015, “How Does Infrastructure Affect Inventory Adjustment?”, Conference on Big Economy Forum, Hunan Normal University, Changsha, China.

Jul 2015, “Who Gains More from Which Infrastructure in Rural China?”, Presented at the 15th China Youth Economists Forum, Xiamen University, Xiamen, China.

Jun 2015, “Who Gain More from Which Infrastructure in Rural China?”, in Agriculture for Sustainable Growth: Challenges and Opportunities for a New “Green Revolution”, Casablanca, Morocco.

May 2015, “Agricultural Productivity, Labor Migration, and Agriculture-industry Co-development”, Presented at the Young Economist Society Conference, Xiamen University, Xiamen, China.

Mar 2015, “China’s Capital Returns and Investment Revisited”, in Chinese Economists Society (CES) North America Conference, University of Michigan, USA.

Nov 2014, “The Effect of Infrastructure on Urban-rural Income Gap”, Conference on Internal Migration, Urbanization, Poverty and Inequality in Asia, Siem Reap, Cambodia.

Nov 2014, “The Effect of Infrastructure on Urban-rural Income Gap”, Invited Seminar, Wuhan University, Wuhan, China.

Aug 2014, “China’s Capital Returns and Investment Revisited”, Conference on the future of Chinese Real Estate Market, Southwestern University of Finance and Economics, Chengdu, China.

Mar 2014, “China's Sovereign Debt: A Balance-Sheet Perspective”, in Chinese Economists Society (CES) North America Conference, Purdue University, USA.

Jan 2014, “China's Sovereign Debt: A Balance-Sheet Perspective”, Invited Seminar, China Finance 40 Forum, Beijing, China.

Nov 2013, “China’s Capital Returns and Investment Revisited”, in China Economics Annual Conference, Southwestern University of Finance and Economics, Chengdu.

Nov 2013, “China's Sovereign Debt: A Balance-Sheet Perspective”, in China Economics Annual Conference, Southwestern University of Finance and Economics, Chengdu, China.

Sep 2013, “China’s Capital Returns and Investment Revisited”, Presented at the 13th China Youth Economic Scholars Forum, Beijing Normal University, Beijing, China.