Department of Economics and Finance | Staff List

Prof. YAN Kit Ming Isabel (甄潔明教授)

PhD - International Finance, Econometrics (Stanford University)
MSc - Statistics (Stanford University)
BSc - Economics (The University of Hong Kong)

Associate Professor

Contact Information

E-mail:
Address:	6222, Cheng Yick Chi Building City University of Hong Kong
Phone:	+852 34427315
efyan@cityu.edu.hk
SSRN Web:
https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=341542
Public CV:	Download

Research Areas

International Economics
Applied Econometrics
International Finance

Dr. Isabel Yan joined the City University of Hong Kong in 2002 after obtaining her Ph.D. degree in Economics and M.Sc. degree in Statistics from Stanford University.
She served as the Associate Head of the Department of Economics and Finance in 2012-2015, the Assistant Dean on Assurance of Learning in 2015-2016, and the Assistant Dean on Business Career Development in 2016-2019. She was also the finalist of the Teaching Excellence Award at City University of Hong Kong in 2008 and 2009.
Her research specializes in international economics and applied econometrics. Her research has been published in Journal of International Economics, Journal of International Money and Finance, Journal of Money, Credit and Banking, among others.

Publications

Journal Publications and Reviews
Guo, Fei; Li, Ting; Yan, Isabel Kit-Ming; Opoku, Eric Evans Osei / Impacts of liquidity constraints, wealth and debt on happiness. January 2025; In: Applied Economics. Hu, Bing; Onwachukwu, Chinedu Increase; Yan, Isabel Kit-Ming; Zhang, Weikang; Shang, Shuanghe / Assessing the Impact of Financing on SMEs' Innovation in China. November 2024; In: Review of Development Economics. Zhang, Weikang; Yan, Isabel K. M.; Cheung, Yin-Wong / The COVID-19 pandemics and import demand elasticities: evidence from China’s customs data. December 2023; In: Humanities and Social Sciences Communications. Vol. 10 Guo, Fei; Yan, Isabel Kit-Ming; Chen, Tao; Hu, Chun-Tien / Fiscal Multipliers, Monetary Efficacy, and Hand-to-Mouth Households. February 2023; In: Journal of International Money and Finance. Vol. 130 Guo, Fei; Opoku, Eric Evans Osei; Hynes, Kate; Yan, Isabel Kit-Ming / Fiscal Decentralization and Fiscal Multiplier in China. June 2022; In: B.E. Journal of Macroeconomics. Vol. 22, No. 2, pp. 729-763 Zhang, Weikang; Yan, Isabel Kit-Ming; Cheung, Yin-Wong / Foreign Financial Services Adoption in Manufacturing by Asian Economies: New Index from the Global Value Chain Perspective. February 2022; In: Journal of International Commerce, Economics and Policy. Vol. 13, No. 1 Dang, Vinh Q. T.; Otchere, Isaac; So, Erin P. K.; Yan, Isabel K. M. / Not all shadow banking is bad! Evidence from credit intermediation of non-financial Chinese firms. November 2021; In: Review of Quantitative Finance and Accounting. Vol. 57, No. 4, pp. 1437–1462 Onwachukwu, Chinedu Increase; Yan, Kit-Ming Isabel; Tu, Kerui / The causal effect of trade liberalization on the environment. October 2021; In: Journal of Cleaner Production. Vol. 318 Guo, Fei; Opoku, Eric Evans Osei; Yan, Isabel Kit-Ming / The Heterogeneous Sectoral Productivity Impacts of FDI on Real Exchange Rate. June 2021; In: The Journal of International Trade and Economic Development. Vol. 30, No. 7, pp. 1101-1121 Onwachukwu, Chinedu Increase; Yan, Isabel Kit-Ming / A micro-level insight on trade-induced job polarization and poverty in Russia. March 2021; In: Economic Systems. Vol. 45, No. 1 Chen, Tao; So, Erin P. K.; Yan, Isabel K. M. / Are crises sentimental?. January 2021; In: International Journal of Finance and Economics. Vol. 26, No. 1, pp. 962-985 Opoku, Eric E. O.; Yan, Isabel K. M.; Hynes, Kate / Reaching up and reaching out: The impact of competition on firms’ productivity and export decisions. February 2020; In: Pacific Economic Review. Vol. 25, No. 1, pp. 69-101 Lai, Jennifer T.; Yan, Isabel K. M.; Yi, Xingjian; Zhang, Hao / Digital Financial Inclusion and Consumption Smoothing in China. January 2020; In: China and World Economy. Vol. 28, No. 1, pp. 64-93 Adom, Philip Kofi; Opoku, Eric Evans Osei; Yan, Isabel Kit-Ming / Energy demand–FDI nexus in Africa: Do FDIs induce dichotomous paths?. June 2019; In: Energy Economics. Vol. 81, pp. 928-941 Opoku, Eric Evans Osei; Yan, Isabel Kit-Ming / Industrialization as driver of sustainable economic growth in Africa. February 2019; In: The Journal of International Trade and Economic Development. Vol. 28, No. 1, pp. 30–56 Chong, Terence T.L.; Yan, Isabel K. / Forecasting Currency Crises with Threshold Models. December 2018; In: International Economics. Vol. 156, pp. 156-174 Dang, Vinh Q.T.; So, Erin P.K.; Yan, Isabel K.M. / The Value of Political Connection: Evidence from the 2011 Egyptian revolution. July 2018; In: International Review of Economics and Finance. Vol. 56, pp. 238-257 Chong, Terence Tai-Leung; Chen, Haiqiang; Wong, Tsz-Nga; Yan, Isabel Kit-Ming / Estimation and Inference of Threshold Regression Models with Measurement Errors. April 2018; In: Studies in Nonlinear Dynamics and Econometrics. Vol. 22, No. 2 YAN, Kit Ming Isabel / Tracking aid to reproductive, maternal, newborn, and child health. January 2017; In: The Lancet Global Health. Vol. 5, No. 1, pp. e18-e19 Yan, Isabel; Bendavid, Eran; Korenromp, Eline L. / Antiretroviral treatment scale-up and tuberculosis mortality in high TB/HIV burden countries: An econometric analysis. August 2016; In: PLoS ONE. Vol. 11, No. 8 Kumhof, Michael; Yan, Isabel / Balance-of-payments anti-crises. June 2016; In: Journal of Macroeconomics. Vol. 48, pp. 186-202 Yan, Isabel; Korenromp, Eline; Bendavid, Eran / Mortality changes after grants from the Global Fund to Fight AIDS, tuberculosis and malaria: An econometric analysis from 1995 to 2010. September 2015; In: BMC Public Health. Vol. 15, No. 1 CHEN, Tao; SO, Erin Pik Ki; WU, Liang; YAN, Isabel Kit Ming / THE 2007–2008 U.S. RECESSION: WHAT DID THE REAL-TIME GOOGLE TRENDS DATA TELL THE UNITED STATES?. April 2015; In: Contemporary Economic Policy. Vol. 33, No. 2, pp. 395-403 Lai, Jennifer T.; So, Erin P.K.; Yan, Isabel K.M. / Intergovernmental fiscal arrangements and provincial consumption risk sharing in China. December 2014; In: Emerging Markets Finance and Trade. Vol. 50, No. 3, pp. 45-58 Chan, Kenneth S.; Lai, Jennifer T.; Yan, Isabel K.M. / Consumption risk sharing and self-insurance across provinces in China: 1952-2008. September 2014; In: China Economic Review. Vol. 30, pp. 66-85 Luo, Miao; Chen, Tao; Yan, Isabel K. / Price informativeness and institutional ownership: Evidence from Japan. May 2014; In: Review of Quantitative Finance and Accounting. Vol. 42, No. 4, pp. 627-651 Lai, Jennifer T.; McNelis, Paul D.; Yan, Isabel K.M. / Regional capital mobility in China: Economic reform with limited financial integration. October 2013; In: Journal of International Money and Finance. Vol. 37, pp. 493-503 Chan, Kenneth; Lai, Jennifer; Yan, Isabel / Is the provincial capital market segmented in China?. August 2013; In: Review of Development Economics. Vol. 17, No. 3, pp. 430-446 Chen, Tao; Wu, Liang; Yan, Isabel Kit-Ming / On the use of international commodity futures spread for forecasting China's net imports of commodities. July 2013; In: World Economy. Vol. 36, No. 7, pp. 861-879 Lai, Edwin L.-C.; Yan, Isabel K.M. / Would global patent protection be too weak without international coordination?. January 2013; In: Journal of International Economics. Vol. 89, No. 1, pp. 42-54 YAN, Kit Ming; Mak, Wing Hei; Chong, Tai-Leung Terence / A THRESHOLD MODEL APPROACH TO ESTIMATING THE ABNORMAL STOCK RETURNS. 2013; In: Annals of Financial Economics. Vol. 8, No. 1, pp. 1350001-1 - 1350001-17 Chan, Kenneth S.; Dang, Vinh Q.T.; Yan, Isabel K.M. / Financial reform and financing constraints: Some evidence from listed Chinese firms. June 2012; In: China Economic Review. Vol. 23, No. 2, pp. 482-497 Chan, Kenneth S.; Dang, Vinh Q.T.; Yan, Isabel K.M. / Chinese firms' political connection, ownership, and financing constraints. May 2012; In: Economics Letters. Vol. 115, No. 2, pp. 164-167 Chan, Kenneth S.; Dang, Vinh Q.T.; Yan, Isabel K.M. / Effects of Financial Liberalisation and Political Connection on Listed Chinese Firms' Financing Constraints. April 2012; In: World Economy. Vol. 35, No. 4, pp. 483-499 Chong, Terence Tai-Leung; Lam, Tau-Hing; Yan, Isabel Kit-Ming / Is the Chinese stock market really inefficient?. March 2012; In: China Economic Review. Vol. 23, No. 1, pp. 122-137 Kakkar, Vikas; Yan, Isabel / Real Exchange Rates and Productivity: Evidence from Asia. March 2012; In: Journal of Money, Credit and Banking. Vol. 44, No. 2-4, pp. 301-322 Chan, Kenneth S.; Dang, Vinh Q.T.; Lai, Jennifer T.; Yan, Isabel K.M. / Regional capital mobility in China: 1978-2006. November 2011; In: Journal of International Money and Finance. Vol. 30, No. 7, pp. 1506-1515 Kakkar, Vikas; Yan, Isabel K.M. / Sectoral capital-labor ratios and total factor productivity: Evidence from Asia. September 2011; In: Review of International Economics. Vol. 19, No. 4, pp. 674-684 Chan, K. S.; Dang, V. Q. T.; Jiang, M.; Yan, Isabel K. M. / On China's domestic capital mobility and the role of the government: Empirical evidence over 1970-2006. July 2011; In: World Economy. Vol. 34, No. 7, pp. 1216-1236 Chong, Terence Tai-Leung; Yuan, Shuo; Yan, Isabel Kit-Ming / An examination of the underpricing of H-Share IPOs in Hong Kong. December 2010; In: Review of Pacific Basin Financial Markets and Policies. Vol. 13, No. 4, pp. 559-582 Chong, Terence Tai-Leung; Wong, Ying-Chiu; Yan, Isabel Kit-Ming / International linkages of the Japanese stock market. December 2008; In: Japan and the World Economy. Vol. 20, No. 4, pp. 601-621 SU, Qian; CHONG, Terence Tai Leung; YAN, KitMing / On the Convergence of the China and Hong Kong Stock Markets: A Cointegration Analysis of the A and H shares. November 2007; In: Applied Financial Economics. Vol. 17, No. 16, pp. 1349 - 1357 Su, Qian; Chong, Terence Tai-Leung; Yan, Isabel Kit-Ming / On the convergence of the Chinese and Hong Kong stock markets: A cointegration analysis of the A and H shares. November 2007; In: Applied Financial Economics. Vol. 17, No. 16, pp. 1349-1357 Kumhof, Michael; Li, Shujing; Yan, Isabel / Balance of payments crises under inflation targeting. May 2007; In: Journal of International Economics. Vol. 71, No. 3, pp. 242-264 Chong, Terence Tai-Leung; Yan, Isabel Kit-Ming; Liu, Guoxin / The aggregated structural-change model. January 2007; In: Economics Bulletin. Vol. 3, No. 2, pp. 1-10 Lau, Lawrence J.; Yan, Isabel K. / Predicting currency crises with a nested logit model. October 2005; In: Pacific Economic Review. Vol. 10, No. 3, pp. 295-316

Journal Publications and Reviews

Guo, Fei; Li, Ting; Yan, Isabel Kit-Ming; Opoku, Eric Evans Osei / Impacts of liquidity constraints, wealth and debt on happiness. January 2025; In: Applied Economics.
Hu, Bing; Onwachukwu, Chinedu Increase; Yan, Isabel Kit-Ming; Zhang, Weikang; Shang, Shuanghe / Assessing the Impact of Financing on SMEs' Innovation in China. November 2024; In: Review of Development Economics.
Zhang, Weikang; Yan, Isabel K. M.; Cheung, Yin-Wong / The COVID-19 pandemics and import demand elasticities: evidence from China’s customs data. December 2023; In: Humanities and Social Sciences Communications. Vol. 10
Guo, Fei; Yan, Isabel Kit-Ming; Chen, Tao; Hu, Chun-Tien / Fiscal Multipliers, Monetary Efficacy, and Hand-to-Mouth Households. February 2023; In: Journal of International Money and Finance. Vol. 130
Guo, Fei; Opoku, Eric Evans Osei; Hynes, Kate; Yan, Isabel Kit-Ming / Fiscal Decentralization and Fiscal Multiplier in China. June 2022; In: B.E. Journal of Macroeconomics. Vol. 22, No. 2, pp. 729-763
Zhang, Weikang; Yan, Isabel Kit-Ming; Cheung, Yin-Wong / Foreign Financial Services Adoption in Manufacturing by Asian Economies: New Index from the Global Value Chain Perspective. February 2022; In: Journal of International Commerce, Economics and Policy. Vol. 13, No. 1
Dang, Vinh Q. T.; Otchere, Isaac; So, Erin P. K.; Yan, Isabel K. M. / Not all shadow banking is bad! Evidence from credit intermediation of non-financial Chinese firms. November 2021; In: Review of Quantitative Finance and Accounting. Vol. 57, No. 4, pp. 1437–1462
Onwachukwu, Chinedu Increase; Yan, Kit-Ming Isabel; Tu, Kerui / The causal effect of trade liberalization on the environment. October 2021; In: Journal of Cleaner Production. Vol. 318
Guo, Fei; Opoku, Eric Evans Osei; Yan, Isabel Kit-Ming / The Heterogeneous Sectoral Productivity Impacts of FDI on Real Exchange Rate. June 2021; In: The Journal of International Trade and Economic Development. Vol. 30, No. 7, pp. 1101-1121
Onwachukwu, Chinedu Increase; Yan, Isabel Kit-Ming / A micro-level insight on trade-induced job polarization and poverty in Russia. March 2021; In: Economic Systems. Vol. 45, No. 1
Chen, Tao; So, Erin P. K.; Yan, Isabel K. M. / Are crises sentimental?. January 2021; In: International Journal of Finance and Economics. Vol. 26, No. 1, pp. 962-985
Opoku, Eric E. O.; Yan, Isabel K. M.; Hynes, Kate / Reaching up and reaching out: The impact of competition on firms’ productivity and export decisions. February 2020; In: Pacific Economic Review. Vol. 25, No. 1, pp. 69-101
Lai, Jennifer T.; Yan, Isabel K. M.; Yi, Xingjian; Zhang, Hao / Digital Financial Inclusion and Consumption Smoothing in China. January 2020; In: China and World Economy. Vol. 28, No. 1, pp. 64-93
Adom, Philip Kofi; Opoku, Eric Evans Osei; Yan, Isabel Kit-Ming / Energy demand–FDI nexus in Africa: Do FDIs induce dichotomous paths?. June 2019; In: Energy Economics. Vol. 81, pp. 928-941
Opoku, Eric Evans Osei; Yan, Isabel Kit-Ming / Industrialization as driver of sustainable economic growth in Africa. February 2019; In: The Journal of International Trade and Economic Development. Vol. 28, No. 1, pp. 30–56
Chong, Terence T.L.; Yan, Isabel K. / Forecasting Currency Crises with Threshold Models. December 2018; In: International Economics. Vol. 156, pp. 156-174
Dang, Vinh Q.T.; So, Erin P.K.; Yan, Isabel K.M. / The Value of Political Connection: Evidence from the 2011 Egyptian revolution. July 2018; In: International Review of Economics and Finance. Vol. 56, pp. 238-257
Chong, Terence Tai-Leung; Chen, Haiqiang; Wong, Tsz-Nga; Yan, Isabel Kit-Ming / Estimation and Inference of Threshold Regression Models with Measurement Errors. April 2018; In: Studies in Nonlinear Dynamics and Econometrics. Vol. 22, No. 2
YAN, Kit Ming Isabel / Tracking aid to reproductive, maternal, newborn, and child health. January 2017; In: The Lancet Global Health. Vol. 5, No. 1, pp. e18-e19
Yan, Isabel; Bendavid, Eran; Korenromp, Eline L. / Antiretroviral treatment scale-up and tuberculosis mortality in high TB/HIV burden countries: An econometric analysis. August 2016; In: PLoS ONE. Vol. 11, No. 8
Kumhof, Michael; Yan, Isabel / Balance-of-payments anti-crises. June 2016; In: Journal of Macroeconomics. Vol. 48, pp. 186-202
Yan, Isabel; Korenromp, Eline; Bendavid, Eran / Mortality changes after grants from the Global Fund to Fight AIDS, tuberculosis and malaria: An econometric analysis from 1995 to 2010. September 2015; In: BMC Public Health. Vol. 15, No. 1
CHEN, Tao; SO, Erin Pik Ki; WU, Liang; YAN, Isabel Kit Ming / THE 2007–2008 U.S. RECESSION: WHAT DID THE REAL-TIME GOOGLE TRENDS DATA TELL THE UNITED STATES?. April 2015; In: Contemporary Economic Policy. Vol. 33, No. 2, pp. 395-403
Lai, Jennifer T.; So, Erin P.K.; Yan, Isabel K.M. / Intergovernmental fiscal arrangements and provincial consumption risk sharing in China. December 2014; In: Emerging Markets Finance and Trade. Vol. 50, No. 3, pp. 45-58
Chan, Kenneth S.; Lai, Jennifer T.; Yan, Isabel K.M. / Consumption risk sharing and self-insurance across provinces in China: 1952-2008. September 2014; In: China Economic Review. Vol. 30, pp. 66-85
Luo, Miao; Chen, Tao; Yan, Isabel K. / Price informativeness and institutional ownership: Evidence from Japan. May 2014; In: Review of Quantitative Finance and Accounting. Vol. 42, No. 4, pp. 627-651
Lai, Jennifer T.; McNelis, Paul D.; Yan, Isabel K.M. / Regional capital mobility in China: Economic reform with limited financial integration. October 2013; In: Journal of International Money and Finance. Vol. 37, pp. 493-503
Chan, Kenneth; Lai, Jennifer; Yan, Isabel / Is the provincial capital market segmented in China?. August 2013; In: Review of Development Economics. Vol. 17, No. 3, pp. 430-446
Chen, Tao; Wu, Liang; Yan, Isabel Kit-Ming / On the use of international commodity futures spread for forecasting China's net imports of commodities. July 2013; In: World Economy. Vol. 36, No. 7, pp. 861-879
Lai, Edwin L.-C.; Yan, Isabel K.M. / Would global patent protection be too weak without international coordination?. January 2013; In: Journal of International Economics. Vol. 89, No. 1, pp. 42-54
YAN, Kit Ming; Mak, Wing Hei; Chong, Tai-Leung Terence / A THRESHOLD MODEL APPROACH TO ESTIMATING THE ABNORMAL STOCK RETURNS. 2013; In: Annals of Financial Economics. Vol. 8, No. 1, pp. 1350001-1 - 1350001-17
Chan, Kenneth S.; Dang, Vinh Q.T.; Yan, Isabel K.M. / Financial reform and financing constraints: Some evidence from listed Chinese firms. June 2012; In: China Economic Review. Vol. 23, No. 2, pp. 482-497
Chan, Kenneth S.; Dang, Vinh Q.T.; Yan, Isabel K.M. / Chinese firms' political connection, ownership, and financing constraints. May 2012; In: Economics Letters. Vol. 115, No. 2, pp. 164-167
Chan, Kenneth S.; Dang, Vinh Q.T.; Yan, Isabel K.M. / Effects of Financial Liberalisation and Political Connection on Listed Chinese Firms' Financing Constraints. April 2012; In: World Economy. Vol. 35, No. 4, pp. 483-499
Chong, Terence Tai-Leung; Lam, Tau-Hing; Yan, Isabel Kit-Ming / Is the Chinese stock market really inefficient?. March 2012; In: China Economic Review. Vol. 23, No. 1, pp. 122-137
Kakkar, Vikas; Yan, Isabel / Real Exchange Rates and Productivity: Evidence from Asia. March 2012; In: Journal of Money, Credit and Banking. Vol. 44, No. 2-4, pp. 301-322
Chan, Kenneth S.; Dang, Vinh Q.T.; Lai, Jennifer T.; Yan, Isabel K.M. / Regional capital mobility in China: 1978-2006. November 2011; In: Journal of International Money and Finance. Vol. 30, No. 7, pp. 1506-1515
Kakkar, Vikas; Yan, Isabel K.M. / Sectoral capital-labor ratios and total factor productivity: Evidence from Asia. September 2011; In: Review of International Economics. Vol. 19, No. 4, pp. 674-684
Chan, K. S.; Dang, V. Q. T.; Jiang, M.; Yan, Isabel K. M. / On China's domestic capital mobility and the role of the government: Empirical evidence over 1970-2006. July 2011; In: World Economy. Vol. 34, No. 7, pp. 1216-1236
Chong, Terence Tai-Leung; Yuan, Shuo; Yan, Isabel Kit-Ming / An examination of the underpricing of H-Share IPOs in Hong Kong. December 2010; In: Review of Pacific Basin Financial Markets and Policies. Vol. 13, No. 4, pp. 559-582
Chong, Terence Tai-Leung; Wong, Ying-Chiu; Yan, Isabel Kit-Ming / International linkages of the Japanese stock market. December 2008; In: Japan and the World Economy. Vol. 20, No. 4, pp. 601-621
SU, Qian; CHONG, Terence Tai Leung; YAN, KitMing / On the Convergence of the China and Hong Kong Stock Markets: A Cointegration Analysis of the A and H shares. November 2007; In: Applied Financial Economics. Vol. 17, No. 16, pp. 1349 - 1357
Su, Qian; Chong, Terence Tai-Leung; Yan, Isabel Kit-Ming / On the convergence of the Chinese and Hong Kong stock markets: A cointegration analysis of the A and H shares. November 2007; In: Applied Financial Economics. Vol. 17, No. 16, pp. 1349-1357
Kumhof, Michael; Li, Shujing; Yan, Isabel / Balance of payments crises under inflation targeting. May 2007; In: Journal of International Economics. Vol. 71, No. 3, pp. 242-264
Chong, Terence Tai-Leung; Yan, Isabel Kit-Ming; Liu, Guoxin / The aggregated structural-change model. January 2007; In: Economics Bulletin. Vol. 3, No. 2, pp. 1-10
Lau, Lawrence J.; Yan, Isabel K. / Predicting currency crises with a nested logit model. October 2005; In: Pacific Economic Review. Vol. 10, No. 3, pp. 295-316

Conference Papers
KAKKAR, Vikas; YAN, Kit Ming Isabel / Renminbi Misalignment: A Productivity Perspective. May 2015; First Conference on Economic Linkages through International Trade, Investment, Migration and Tourism, 29/05/2015 - 01/06/2015, Hong Kong, China.

Chapters, Conference Papers, Creative and Literary Works
Lau, Lawrence J.; Yan, Isabel K. / Trade, financial linkages and contagion of currency crises. November 2017; Critical Issues in China's Growth and Development. pp. 133-200 Kakkar, Vikas; Yan, Isabel; Yip, Vincent / The equilibrium real exchange rate of China: A productivity approach. January 2011; China and Asia in the Global Economy. pp. 123-154