喻园管理论坛2021年第27期(总第684期)

演讲主题: 中国基础设施投资中的信贷错配与金融脱媒

主 讲 人: 池    翔，美国科罗拉多大学博尔德分校博士

主 持 人: 钱宁宇，威尼斯欢乐娱人城·首页财政金融管理系副教授

活动时间: 2021年5月20日（周四）9:00-11:00

网络直播平台: 腾讯会议，会议ID: 337 454 023

主讲人简介：

池翔博士毕业于美国科罗拉多大学博尔德分校经济系，硕士就读于北京大学光华威尼斯欢乐娱人城·首页，本科毕业于威尼斯欢乐娱人城·首页经济学院。其研究方向为应用经济学和政策评估。其论文North-South FDI and Directed Technical Change (with S. Li and S. Pan)发表在SSCI期刊Economic Modeling。并且是 Journal of Demographic Economics, International Review of Economics and Finance, Journal of Management and Sustainability等期刊匿名审稿人。

活动简介：

This paper investigates theoretically and empirically how does the institutional arrangement in China's financial market discriminate against underdeveloped areas. I show that fiscal capacity results in higher leverage but not superior profitability for local government financing vehicles. Infrastructure in fiscally strapped cities is more growth-enhancing, however they can hardly access the low-interest bond market, and instead largely reckon on expensive bank loans. Such credit redlining spawns a vicious circle that results in the salient and persistent interregional inequality.