Welcome to my website!
I am a fourth-year PhD student in Economics at the University of Cambridge.
My research interests include trade and international macroeconomics.
Prior to PhD study, I received MSc in Economics from London School of Economics in 2021 and BA in Economics from National Tsing Hua University in 2020.
Contact information:
Faculty of Economics, Austin Robinson Building,
Sidgwick Avenue,
Cambridge, CB3 9DD
Work in progress
Trade Wars and the Reallocation of Market Power in Global Export Markets (with Giancarlo Corsetti, Meredith Crowley, and Lu Han) [slides] [link to AEA session]
Abstract: By diverting and distorting bilateral trade flows, trade wars shift export patterns and market concentration around the globe. In this paper, we estimate parameters in n-country general equilibrium trade model featuring oligopolistic competition with data from a rich panel of firm-level exports from 11 low and middle-income countries to 165 destinations that report bilateral and multilateral tariffs to the World Trade Organization. Our analysis emphasizes the importance of firm entry into and exit from relatively concentrated product markets at the level of origin-destination country pairs. The impact of a trade war on welfare and prices is dominated by the entry, exit, and pricing decisions by a few large, productive firms. These decisions have first-order effects on the reallocation of market power among firms within and across borders.
How Does Firm R&D Respond to Trade Shocks? Evidence from UK Manufacturers (with Minkyu Son ) R&R Oxford Bulletin of Economics and Statistics [draft]
Abstract: This paper uses matched UK administrative data to examine the impact of trade shocks on R&D investments of UK manufacturing firms from 2002 to 2011. We pay particular attention to the controversial effect of Chinese import competition on firm innovation. Our analysis provides strong evidence that the rise in imports from China, following its accession to the World Trade Organization in 2001, led to a significant decrease in R&D spending among UK firms. Importantly, we find considerable heterogeneity in this effect based on firm size: Chinese competition was particularly detrimental to the R&D of small firms, while its impact on large firms was not statistically significant. We also document the positive role of export market size in stimulating firm R&D, indicating that booming export demand during this period helped to somewhat offset the adverse effects of Chinese competition.
Policy work
Connector Economies in a Fragmenting World (with Oleg Konovalov and Alexander Plekhanov ) EBRD Working Paper No. 303 [link]
Abstract: Connector economies, those not strongly aligning themselves with the US or China, play an increasingly important role in intermediating trade and investment against the backdrop of rapid geopolitical fragmentation. FDI between geo-politically distant blocs fell by 30% relative to within-bloc flows after Q1 2022, while flows to connector economies kept up with within-bloc investment. In a triple-differenced setting, we show that connector economies benefiting most from shifting investment patterns enjoy one or more distinct competitive advantages related to: (i) manufacturing capabilities; (ii) indirect access to major markets; (iii) geographical, cultural and political proximity to major geopolitical rivals; and (iv) the use of special economic zones (SEZs). With rising geopolitical fragmentation, investors make greater use of SEZs and we show that cross-bloc investment in SEZs did not decline relative to within-bloc investment.
Teaching
Graduate Corporate Finance - Univesity of Cambridge (2025)