Research Statement

Research Interests

I am an empirical economist and almost all my research falls into three broad areas of economics (JEL codes are in the parentheses):
  • Industrial Organization (L)
  • Economic Development, Technological Change and Growth (O)
  • Labor and Demographic Economics (J)
The unifying theme behind most of my research is the study of innovation, technological progress and growth. I have explored various aspects of this theme at both micro and macro levels in a number of research projects.

Journal Articles

  1. The Relationship between Market Structure and Innovation in Industry Equilibrium: A Case Study of the Global Automobile Industry. 2014. Forthcoming in the Review of Economics and Statistics (Expected publication date: March 2016.) [with Johannes van Biesebroeck]
  2. Rapid Growth of Massive Open Online Courses (MOOCs) and the Market for University Graduates. 2015. Asian Journal of the Scholarship of Teaching and Learning, 5:1, pp. 23-39.
  3. Competition and Innovation: The Inverted-U Relationship Revisited. 2013. Review of Economics and Statistics, 95:5, pp. 1653-1668. [Data and Computer Codes]
  4. The Determinants of Low Fertility in Singapore: Evidence from a Household Survey. 2013. Singapore Economic Review, 58:4, pp. 1-26. [with Mok Wen Jie]
  5. Intangible Capital and International Income Differences. 2013. Macroeconomic Dynamics, 17:3, pp. 621-645.
  6. Global and Regional Sources of Risk in Equity Markets: Evidence from Factor Models with Time-Varying Skewness. 2007. Journal of International Money and Finance, 26:3, pp. 430-453. [with Anthony S. Tay]
  7. Foreign Labor and Economic Growth: Policy Options for Singapore. 2007. Singapore Economic Review, 52:1, pp. 53-72. [with Weng-Tat Hui]

Chapters in Books

  1. Mean, Volatility and Skewness Spillovers in Equity Markets. 2012. Chapter 5 in Luc Bauwens, Christian Hafner and Sebastien Laurent (Eds.) Handbook of Volatility Models and Their Applications, John Wiley & Sons. [with Anthony S. Tay]

Working Papers

  1. Dynamic Spillovers from the Rival: Evidence from the Entry and Expansion of KFC and McDonald's in the Chinese Cities. 2015. [with Ping Xiao]
  2. Measuring Bargaining Power from Manufacturer-Retailer Matching Decisions. 2015. [with Ping Xiao]

Work in Progress

  1. An Empirical Model of Consumer Choice under Bundling and Three-Part Tariffs. [with Yao Luo and Ping Xiao]
  2. Innovation and Employment: Evidence from the US Manufacturing Firms.
  3. Who Creates Jobs? Evidence from the Chinese Manufacturing Firms.
  4. Do Editors Get More Citations in the Journals that they Edit?


  1. Report on Singapore Fertility Survey 2010. 2011.
  2. Market Structure and Innovation: A Dynamic Analysis of the Global Automobile Industry. 2010. National Bureau of Economic Research (NBER) Working Paper No. 15959. [with Johannes van Biesebroeck]
  3. A Note on the Transitional Bahavior of the Saving Rate in the Neo-Classical Growth Model (the Cobb-Douglas Case). 2009.

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