《中国增长之谜》,中信出版社,2016. (The Chinese Growth Puzzle: A Global Comparative Perspective)

Refereed Journal Articles


“Market Facilitation by Local Government and Firm Efficiency: Evidence from China” (with Robert Cull, Lixin Colin Xu, Xi Yang and Li-An Zhou), Journal of Corporate Finance, 42, 460-480, 2017.

"Optimality of the 51: 49 Equity Structure" (with Susheng Wang), Economics Letters, 145, 270-273, 2016.

“How Much Can We Trust China’s Investment Statistics?” (with Fang Liu and Jun Zhang), Journal of Chinese Economic and Business Studies, 14(3), 215-228, 2016.

Reestimating China’s Underestimated Consumption” (with Jun Zhang), Comparative Economic Studies57 (1), 55-74, 2015. (Winner of the Bergson Prize awarded by the Association for Comparative Economic Studies in 2017.)


 “Foreign Direct Investment under a Weak Rule of Law: Theory and Evidence from China” (with Xiaozu Wang and Lixin Colin Xu), Economics of Transition, 20(3), 2012, 401-424.

“Formal Finance and Trade Credit during China’s Transition” (with Robert Cull and Colin Xu), Journal of Financial Intermediation, 18(2), 2009, 173-192.

“Control Allocation, Revenue Sharing and Joint Ownership” (with Susheng Wang), International Economic Review, 46(3), 2005, 895-915.

“Politician Control, Agency Problems, and Ownership Reform: Evidence from China” (with L. Colin Xu and Yimin Lin), Economics of Transition, 13(1), 2005, 1-24.

 “Incentive Intensity, Forbearance Law, and the Governance of Transactions,” Industrial and Corporate Change, Special Issue in Honor of Oliver E. Williamson, 13(6), 2004, 855-866.

“State-Owned Enterprises Going Public: The Case of China” (with Xiaozu Wang and L. Colin Xu), Economics of Transition, 12(3), 2004, 467-487.

“Specific Investments, Flexible Adaptation, and Requirement Contracts,” Economic Inquiry, 41(2), 2003, 299-304.

“Ownership Restructuring in Chinese State Industry: An Analysis of Evidence on Initial Organizational Changes” (with Yimin Lin), China Quarterly, 166, 2001, 305-341.

 “Holdups, Simple Contracts and Information Acquisition,” Journal of Economic Behavior and Organization, 42(4), 2000, 549-560.

 “Agency and Self-Enforcing Contracts” (with Zhigang Tao), Journal of Comparative Economics, 28(1), 2000, 80-94.

“Institutional Imperfection and Transition Strategies” (with Xinghai Fang), Economic Systems, 23(4), 1999, 331-348.

“China’s Corporatization Drive: An Evaluation and Policy Implications,” Contemporary Economic Policy, 17(4), 1999, 530-539.

 “A Theory of Contract and Ownership Choice in Public Enterprises under Reformed Socialism: The Case of China’s TVEs,” China Economic Review, 9(1), 1998, 59-71.


Publications in popular media


改革是怎样成功的:钱颖一学术贡献述评”, 当代经济学基金会官网, 20171



“Will China's Educational System Strangle Economic Growth?Forbes, May 16, 2016.




中国的投资率高估之谜”(与张军合著),英国《金融时报》中文网201486日。 (

“Abandon the Myth of the Reluctant Chinese Shopper” (with Zhang Jun), Financial Times, January 15, 2013.


 被误读的凯恩斯理论” (与张军合著),《经济观察报》,2012924日。



“An Open Financial Sector Helps China” (with Shan Li), Asian Wall Street Journal, April 30-May 1, 1999.

 “China, Too, Faces Financial Perils” (with Shan Li), Wall Street Journal, October 28, 1998.