Authors, please upload your paper here.

 

 

 

The Chinese University of Hong Kong

 

National Bureau of Economic Research

 

 

 

Conference on Capitalizing China

 

Joseph Fan and Randall Morck, Organizers

 

 

 

December 15-16, 2009

 

 

 

Hyatt Regency Hong Kong, Shatin

 

18 Chak Cheung Street. Sha Tin, New Territories

 

Hong Kong

 

 

 

Co-Organized by

 

 

 

Institute of Economics & Finance, The Chinese University of Hong Kong

 

National Bureau of Economic Research

 

 

 

Program

 

 

Monday, December 14:

 

 

6:30 pm

Reception/Dinner

 

 

 

(Room Salon II, Hyatt Regency Hong Kong, Shatin)

 

 

 

 

Tuesday, December 15:

 

 

8:50 am

Registration & refreshment (Regency Ballroom)

 

 

9:20 am

Welcome by Prof. T.J. Wong, Dean of Faculty of Business Administration, CUHK

 

 

9:25 am

Introduction by Profs. Joseph Fan, Randall Morck, and Bernard Yeung

 

 

9:30 am

Why Are Saving Rates So High in China?

 

Dennis Yang, The Chinese University of Hong Kong

 

Junsen Zhang, The Chinese University of Hong Kong

 

Shaojie Zhou, Tsinghua University

 

 

 

Discussant: Leslie Young, The Chinese University of Hong Kong

 

 

10:20 am

Coffee Break

 

 

10:50 am

The Visible Hand behind China’s Growth

 

Joseph Fan, The Chinese University of Hong Kong

 

Jun Huang, Shanghai University of Finance & Economics

 

Randall Morck, University of Alberta

 

Bernard Yeung, New York University and University of Singapore

 

 

 

Discussant: Carsten Holz, HKUST

 

 

11:40 am

Financing Strategies for Nation Building

 

Zhiwu Chen, Yale University

 

William Goetzmann, Yale University and NBER

 

 

 

Discussant: Jiahua Che, The Chinese University of Hong Kong

 

 

12:30 pm

Lunch

 

 

2: 10 pm

China’s Financial System: Opportunities and Challenges

 

Franklin Allen, University of Pennsylvania

 

Jun Qian, Boston College

 

Chenying Zhang, University of Pennsylvania

 

Mengxin Zhao, University of Alberta

 

 

 

Discussant: Chenggang Xu, The University of Hong Kong

 

 

3:00 pm

Coffee Break

 

 

3:30 pm

Assessing China's Top Down Securities Markets

 

William Allen, New York University

 

Han Shen, Davis Polk & Wardwell, Hong Kong

 

 

 

Discussant: Qiao Liu, University of Hong Kong

 

 

 

 

6:30 pm

Dinner: Room Salon I, Hyatt Regency Hong Kong, Shatin

 

 

Wednesday, December 16:

 

 

 

 

9:00a.m.

Registration & Refreshment

 

 

9:30 am

The Governance of China's Finance

 

Katharina Pistor, Columbia University

 

 

 

Discussant: Zheng Song, The Chinese University of Hong Kong

 

 

10:20 am

Coffee Break

 

 

10:50 am

The Corporate Savings Puzzle in China:  A Comparative Perspective

 

Tam Bayoumi, IMF

 

Hui Tong, IMF

 

Shang-Jin Wei, Columbia University and NBER

 

 

 

Discussant: Ning Zhu, University of California - Davis

 

 

11:40 am

Provincial and Local Governments in China: Fiscal Institutions and Government Behavior

 

Roger Gordon, UC, San Diego and NBER

 

Wei Li, University of Virginia

 

 

 

Discussant: Zhigang Li, The University of Hong Kong

 

 

12:30 pm

Lunch

 

 

2:10 pm

Institutions and Information Environment of Chinese Listed Firms

 

Joseph Piotroski, Stanford University

 

T.J. Wong, The Chinese University of Hong Kong

 

 

 

Discussant: Li Jin, Harvard Business School

 

 

3:00 pm

Closing Remarks, Profs. Joseph Fan and Randall Morck

 

 

3:10 pm

Adjourn