Research

Work in Progress

The Impact of Accessible Loans on Financial Behavior and Economic Outcomes: A Study of P2P Lending Platforms in China

^{Introduction: What is the impact of easily accessible loans on people’s economic outcomes? Will it help them solve liquidity issues, pursue education, and start businesses, or will it lead to increased consumerism, frequent borrowing, and financial instability? This question is studied using the records of Peer-to-peer (P2P) lending platforms. P2P lending platforms, particularly popular in China from 2012 to 2017, allowed individuals to obtain loans by simply uploading their identification and financial information online without collateral.}

How College Admission Policy Impacts Education Equality and Social Mobility: Application VS Unified Examination

^{Introduction: Higher education has a great impact on economic growth and social mobility. Highly selective colleges provide students with better skills and make them more likely to reach higher incomes in the future. There are two major types of admission policies around the world: application-based and unified exam-based. For example, in the US, students apply to colleges based on their SAT/ACT scores and related materials. While in China, college admission is based entirely on the standardized exam (Gaokao). Students use their exam scores for all colleges. This paper aims to compare the two college admission policies in terms of education equality and social mobility, to determine which policy provides more opportunities to students from low-income families.}

Cross-industry Acquisition by Digital Platforms

^{with Yangguang Huang (HKUST) and Junbao Li (SJTU)}