People and Research People

People Details

Dr. LAI Huiwen


Associate Professor

9-224, Lau Ming Wai Academic Building, City University of Hong Kong
+852 34427927

Research Areas

International Trade
Asset Pricing and Capital Markets
Chinese Economy
Macroeconomic Forecasting


PhD - Economics (University of Toronto)
MSc - Economics (Northeast University of Finance and Economics)
BSc - Mathematics (Sichuan University)


Dr. Huiwen Lai received his Ph.D. in economics from University of Toronto, master degree in economics from Northeast University of Finance and Economics, and bachelor degree in mathematics from Sichuan University. His research interests include asset pricing and capital markets, determinants of international trade flows, performance of Chinese exporting firms, macroeconomic forecasting, and relations between macroeconomic and aggregate accounting variables. He has published in leading academic journals including Journal of Financial and Quantitative Analysis, European Economic Review, Review of Economics and Statistics, Journal of International Economics, Journal of Development Economics, and Canadian Journal of Economics.

Before joining the City University of Hong Kong, Dr. Lai has taught at Hong Kong Polytechnic University and worked in industry in US for a number of years. The companies he has worked for include SAS Institute Inc., Bank of America, Wachovia Bank, and Wells Fargo Bank.  Among many industry applications he developed over the years, he is particularly interested in applying SAS & Econometric principles to problems originated from large databases.


Journal Publications and Reviews

Bailey, Warren; Lai, Huiwen / On the Expected Earnings Hypothesis Explanation of the Aggregate Returns–Earnings Association Puzzle. December 2020; In: Journal of Financial and Quantitative Analysis. Vol. 55, No. 8, pp. 2732-2763

Cumming, Douglas; Ge, Ying; Lai, Huiwen / Trust and quality uncertainty in global value chains. December 2020; In: Journal of Multinational Financial Management. Vol. 57-58

Lai, Huiwen; Ng, Eric C. Y. / On business cycle forecasting. September 2020; In: Frontiers of Business Research in China. Vol. 14

Lai, Huiwen; Maskus, Keith E.; Yang, Lei / Intellectual property enforcement, exports and productivity of heterogeneous firms in developing countries: Evidence from China. April 2020; In: European Economic Review. Vol. 123

Ge, Ying; Lai, Huiwen; Zhu, Susan Chun / Multinational price premium. July 2015; In: Journal of Development Economics. Vol. 115, pp. 181-199

Chen, Yasheng; Ge, Ying; Lai, Huiwen; Liu, Qing / Efficiency Sorting Among Foreign Affiliates: Evidence from China. March 2015; In: The World Economy. Vol. 38, No. 3, pp. 568-581

CHEN, Zhihong; GE, Ying; LAI, Huiwen; WAN, Chi / Globalization and Gender Wage Inequality in China. April 2013; In: World Development. Vol. 44, pp. 256-266

CHEN, Zhihong; GE, Ying; LAI, Huiwen / Foreign Direct Investment and Wage Inequality: Evidence from China. August 2011; In: World Development. Vol. 39, No. 8, pp. 1322-1332

Chen, Zhihong; Iqbal, Azhar; Lai, Huiwen / Forecasting the probability of US recessions: A Probit and dynamic factor modelling approach. May 2011; In: Canadian Journal of Economics. Vol. 44, No. 2, pp. 651-672

Silvia, John; Bullard, Sam; Lai, Huiwen / Forecasting U.S. recessions with probit stepwise regression models. January 2008; In: Business Economics. Vol. 43, No. 1, pp. 7-18

Lai, Huiwen; Zhu, Susan Chun / Technology, endowments, and the factor content of bilateral trade. April 2007; In: Journal of International Economics. Vol. 71, No. 2, pp. 389-409

Lai, Huiwen; Zhu, Susan Chun / U.S. Exports and Multinational Production. August 2006; In: The Review of Economics and Statistics. Vol. 88, No. 3, pp. 531-548

Lai, Huiwen; Zhu, Susan Chun / The determinants of bilateral trade. May 2004; In: Canadian Journal of Economics. Vol. 37, No. 2, pp. 459-483

HEJAZI, Walid; LAI, Huiwen; YANG, Xian / The expectations hypothesis, term premia, and the Canadian term structure of interest rates. February 2000; In: Canadian Journal of Economics. Vol. 33, No. 1, pp. 133-148

Other Outputs

Lai, Huiwen; Trefler, Daniel / The Gains from Trade with Monopolistic Competition: Specification, Estimation, and Mis-specification. September 2002; NBER Working Papers.

keep reading