【主讲】Yi Lu (新加坡国立大学)
【时间】2011年12月30日 (周五) 15：30-17：00
【地点】上海财经大学经济学院楼801室
【语言】英文
【摘要】We are living in an increasingly globalized world yet with constant and endless conflicts among countries. While studies have uncovered the impacts of various economic factors and policy regimes on trade and investment, it is much less understood whether the conflicts among countries have any, especially long-lasting, impacts on cross-border trade and investment. In this paper, we exploit one of the most important conflicts in the 20th century between the now world's 2nd and 3rd largest economies, the Japanese invasion of China from 1937 to 1945, to investigate its long-run impact on contemporary trade and investment between the two countries. We find that the Japanese invasion of China causes China's regions to be less likely to trade with and trade less with Japan. Consistently, we also find that Japanese multinationals are less likely to invest in those China's regions that suffered severer casualties during the Japanese invasion. Our study shows that historical animosity still matters for international trade and investment despite the trend toward a flat world.
