现代产业经济学系列讲座第240期

时    间：2023年5月10日（周三）15:30-17:00

地    点：史带楼603室

题    目：Identifying Financial Spillovers of Foreign Direct Investment: Evidence from China

主讲人：林曙    教授

主持人：常惠丰  青年副研究员

摘    要：We study the financial spillovers of Foreign Direct Investment (FDI) to local suppliers through a trade credit channel and a bank loan channel. Using rich Chinese firm-level data, we provide robust evidence that a high concentration of FDI in downstream industries substantially reduces local suppliers’ trade credit provision and improves their access to bank loans, especially unsecured loans. A variety of empirical strategies suggest that the effects are causal. Furthermore, the beneficial bank loan effect is more pronounced for local suppliers facing severer information friction. We also use supplier-customer links to provide additional evidence for FDI’s financial spillovers.

主讲人简介：Shu Lin is a Professor of Economics at The Chinese University of Hong Kong. Before joining CUHK, he was professor at Fudan University. Shu conducts research in Chinese economy, internaional finance, and monetary policy. He has published in major academic journals such as Reveiw of Financial Studies, Review of Economics and Statistics, Journal of Monetary Economics, Journal of International Economics, and Journal of Development Economics. Shu's work has won the Sun Yefang Financial Innovation Award and the Pushan Award for Academic Research in International Economics. He currently serves as Co-Editor of China and World Economy and Associate Editor of the China Journal of Economics.

应用经济学系

2023-5-6