Conference on China’s financial market liberalization




September 18–19, 2014, Bank of Finland Auditorium, Rauhankatu 19, Helsinki
Organized by Bank of Finland Institute for Economies in Transition (BOFIT), City University of Hong Kong, Department of Economics and Finance, and Research Center for International Economics
Opening of the conference
Board member Seppo Honkapohja
9.00-10.30 Session 1: Pricing the renminbis
Yin-Wong Cheung (City University of Hong Kong) and Dagfinn Rime (Norges Bank): The Offshore Renminbi Exchange Rate: Microstructure and Links to the Onshore Market
Michael Funke (University of Hamburg), Chang Shu (Bank for International Settlements), Xiaoqiang Cheng (Hong Kong Monetary Authority) and Sercan Eraslan (University of Hamburg): Market Segmentation, Fundamentals or Contagion? Assessing Competing Explanations for CNH-CNY Pricing Differentials
11.00-12.00 Keynote speech: Franklin Allen (University of Pennsylvania)
12.00-13.00 Lunch
13.00-14.30 Session 2: Bank financing
Iftekhar Hasan (Fordham University), Nada Kobeissi (Long Island University), Haizhi Wang (Illinois Institute of Technology) and Mingming Zhou (University of Colorado at Colorado Springs): Bank Financing and New Venture Formation in China: Quantity vs. Quality
Susan Chenyu Shan (Shanghai Advanced Institute of Finance), Philip H. Dybvig (Washington University in St. Louis) and Dragon Yongjun Tang (The University of Hong Kong): Bank Lending under Limited Creditor Rights Enforcement and Redeployable Collateral via Third-party Loan Guarantee
15.00-16.30: Invited policy session: Financial markets (de)regulation and development
Zhong Xu (People’s Bank of China): Development of China’s bond markets
Hubert Fromlet (Linnaeus University): Deregulation of Financial Markets and the Risk of Financial Crises: Can China Learn Something from the Swedish Example?
19.00 Workshop dinner
9.00-10.30 Session 3: Other forms of finance
Liping Lu (University of Amsterdam), Qing He (Renmin University of China) and Steven Ongena (University of Zurich): Who Gains from Credit between Firms? Evidence from Inter-corporate Loan Announcements Made in China
William Sheng Liu (Guangdong University of Foreign Studies) and Anqi Hu (Jinan University): Does banking development drive capital flows across border? The case of China's FDI inflows and outflows
11.00-12.00 Keynote speech: Joshua Aizenman (University of Southern California)
12.00-13.00 Lunch
13.00-14.30 Session 4: Financial markets and monetary policy
Riikka Nuutilainen (Bank of Finland): Contemporary monetary policy in China: Is there evidence of a shift to price-based policy?
Yongheng Deng (National University of Singapore), Eric Girardin (Aix Marseille University) and Roselyne Joyeux (Macquarie University): Fundamentals and the Volatility of Real Estate Prices in China: A Mixed-Frequency Approach
15.00 End of the workshop



 Related links