TANG_Hei_Wai_web1
Prof. Heiwai TANG
Economics
Associate Director, Asia Global Institute
Associate Director, Institute for China and Global Development
Associate Director, Hong Kong Institute of Economics and Business Strategy
Professor

3917 4388
3917 0029

KK 920 / MB 336

Academic & Professional Qualification

  • PhD: MIT
  • Bachelor: UCLA (B.S.)

Biography

Heiwai Tang is Professor of Economics, as well as Associate Director of the Asia Global Institute, the Institute for China and Global Development and the Hong Kong Institute of Economics and Business Strategy at the University of Hong Kong (HKU). Prior to joining HKU, he was tenured Associate Professor of International Economics at the School of Advanced International Studies (SAIS) of Johns Hopkins University. He is also affiliated with the Federal Reserve Bank of Dallas (U.S.), the Center of Economic Studies and Ifo Institute (CESIfo, Germany), the Kiel Institute for the World Economy (Germany) and the Globalization and Economic Policy Center (U.K.) as a research fellow. He has been a consultant to the World Bank, the International Finance Corporation, the United Nations, and the Asian Development Bank; and held visiting positions at the IMF, Stanford, MIT, Harvard. He is currently an associate editor of the Journal of International Economics, the Journal of Comparative Economics and the China Economic Review.

Heiwai holds a Ph.D. in economics from MIT and a Bachelor of Science in mathematics from UCLA. His research interests span a wide range of theoretical and empirical topics in international trade, with a specific focus on production networks, global value chains, and China. His research has been published in leading journals in economics, including American Economic Review and Journal of International Economics. His research and opinions have been covered by BBC, Financial Times, New York Times, Al Jazeera, Foreign Policy, South China Morning Post, and various think tanks such as the Brookings Institution and the Peterson Institute for International Economics.

Teaching

Columbia-LBS-HKU EMBA: The New World Order

HKU-PKU DBA: Frontiers in Economics Research

Fudan-HKU IMBA: The New World Order

HKU: Undergraduate Common Core – China in the Global Economy; MBA – Global Economy; Master of Economics – Economic Policy

Research Interest

International Trade, Global Value Chains, Development Economics

Selected Publications

  1. ​“Domestic Segment of Global Value Chains in China under State Capitalism”, Journal of Comparative Economics, 48(4), Dec 2020, pp. 797-821. (w/ Fei Wang and Zhi Wang)
  2. “Excessive Entry and Exit in Export Markets”, Journal of the Japanese and International Economies, 53, Sep 2019, 101031. (w/ Hiro Kasahara)
  3. “Why is China Investing in Africa? Evidence from the Firm Level”, World Bank Economic Review, 32 (3), Oct 2018, 752-752. (w/ Wenjie Chen & David Dollar)
  4. “Are Foreign Firms Favored in China? Firm-level Evidence on the Collection of Value Added Tax”, Journal of International Business Policy, 1(2), Inaugural Issue, Jun 2018, pp. 71-91. (w/ Yasheng Huang)
  5. “Domestic Value Added in Exports: Theory and Firm Evidence from China”, American Economic Review, 106(6), Jun 2016, pp. 1402-1436. (w/ Hiau Looi Kee)
  6. “Scale, Scope, and Trade Dynamics of Export Processing Plants”, Economics Letters, 133, Aug 2015, pp. 68-72. (w/ Ana Fernandes)
  7. “Learning to Export from Neighbors”, Journal of International Economics, 94(1), Sep 2014, pp. 67-84. (w/ Ana Fernandes)
  8. “Factor Intensity, Product Switching, and Productivity: Evidence from Chinese Exporters”, Journal of International Economics, 92(2), Mar 2014, pp. 349-362. (w/ Yue Ma & Yifan Zhang)
  9. “International Politics and Import Diversification”, Journal of Law and Economics, 56(4), Nov 2013, pp. 1091-1121. (w/ Sergey Mityakov & Kevin Tsui)
  10. “Exchange Rates and the Margins of Exports: Evidence from Chinese Exporters”, CESIfo Economic Studies, Symposium on China’s Trade Performance, 58(4), Dec 2012, pp. 671-702. (w/ Yifan Zhang)
  11. “Determinants of Vertical Integration in Export Processing: Theory and Evidence from China”, Journal of Development Economics, 99(2), Nov 2012, pp. 396–414. (w/ Ana Fernandes)
  12. “Labor Market Institutions, Firm-specific Skills, and Trade Patterns”, Journal of International Economics, 87(2), Jul 2012, pp. 337–351.

Awards and Honours

  • Committee of 100 Next Generation Leader, 2018
  • Richard Paul Richman Center for Business, Law, and Public Policy Grant, Columbia University, Co-PI, USD 14,500.
  • Social Sciences and Humanities Research Council (SSHRC) of Canada Insight Grant, Co-Investigator, CAD 78,736
  • Student-Elected Best Professor of the Master of International Econ and Finance Program, JHU SAIS, 2016-2017
  • Alcoa Foundation Grant, Co-PI, USD 500,000, 2016-2019
  • Hong Kong RGC Grant, Co-PI, HKD 364,378, 2017-2019
  • Outstanding Referee Journal of International Economics, 2014-2017.
  • Hong Kong RGC Grant, Co-PI, HKD 336,462, 2011-2013
  • The Nuffield Foundation Social Science Grant, SGS/36581, Co-PI, £12,000, 2009-2011
  • MIT Presidential Fellowship, 2002-2003

Service to the University/Community

  • Journal of International Economics, Associate Editor, 2019 –
  • China Economic Review, Associate Editor, 2018 –
  • Journal of Comparative Economics, Associate Editor, 2017 –
  • China Economics Summer Institute, Academic Committee Member, 2017 –
  • International Finance Corporation (IFC), Consultant, 2017 –
  • United Nations Industrial Development Organization, Consultant, 2016 – 2017
  • Asian Development Bank, Consultant, 2016 – 2017
  • IMF, Research Department, Visiting Scholar, 2015 – 2016
  • World Bank, Consultant, 2013 – 2017

Recent Publications

美股賀拜登履新 新高後有更高

美國股市在周三收市創下新高後,周四繼續上升,主因是拜登宣誓就任美國第46任總統,引發市場期待華府推出另一輪刺激計劃,疫苗配送和接種亦將更順暢。周三三大指數集體高開,科技股表現強勢,引領納指盤初漲逾1%,刷新歷史新高。

RCEP – A miraculous act amid deglobalisation

2020年11月15日,東盟10國加上中國、日本、南韓、澳洲和紐西蘭共15國簽署《區域全面經濟夥伴協定》(Regional Comprehensive Economic Partnership;簡稱RCEP)。稍後待各國於國會通過後,協定將會是有史以來最大的自由貿易協定,涵蓋全球三分之一的人口(約23億)及本地生產總值(GDP),預計到了2030年,GDP更將佔全球的一半。

鄧希煒料拜登續遏制中國 中美仍有合作空間

當選美國總統的拜登近日接受訪問談到對中國政策,表示希望與盟友立場一致,並爭取民主、共和兩黨就產業政策達成共識,確保優先投資美國。香港大學經濟學教授鄧希煒分析說,拜登上台後不會改變兩黨「圍堵中國」策略。

西方圍堵中國 香港再工業化契機

民主制度無法選出最優秀的人,起碼能夠趕走不合格的人──抱着「特朗普以外任何人」(Anyone but Trump)的美國人,用選票體現了這句經典對白。然而,儘管兩黨鬥得難分難解,美國朝野內外還是達到一大共識──就是「沒有人再敢提中美友好,否則是自殺行為!」港大經濟及工商管理學院經濟學教授鄧希煒向本刊表示。

專訪港大教授鄧希煒:赴美廿年初回流 寄望香港「再工業化」

反修例風波迎來《港區國安法》,掀起「香港移民潮」。很多年輕人想離開,而早在香港回歸翌年便負笈美國長達21年、早已成為世界知名學府經濟學者的鄧希煒,卻在去年7月1日正式回流,加盟香港大學成為經濟及工商管理學院教授,並擔任學院轄下中國與全球發展研究所副總監。原本關注國際貿易理論的他,目前專攻香港產業結構轉型。

施政報告2020|螞蟻觸礁啟示——理性投資獨角獸 大膽監管新產業

內地電商巨頭阿里巴巴旗下金融科技獨角獸「螞蟻集團」,月初公開招股(IPO)前夕突然被內地監管部門煞停。坊間認為是集團實際掌權人馬雲言行不慎招惹中央,但實際上,以「科技公司」為名的螞蟻集團,提供的卻是不折不扣的「金融服務」,而前者的監管措施明顯比後者寬鬆,即螞蟻在一定程度上吃了「監管紅利」。近年創科產業興起,類似企業火速湧現,內地當局之所以罕有叫停,明顯是為了完善金融科技的監管制度、避免市值泡沫橫飛,同時保障數以千萬計的投資者權益。揚言推動香港由傳統金融中心轉型成為金融科技中的的特首林鄭月娥,在明日(11月25日)公佈的《施政報告》當中,理應好好吸取「螞蟻觸礁」的教訓,認真思考如何在為金融科技市場鬆綁的同時,積極制訂創新監管制度。

鄧希煒教授:香港經濟轉型百年難得機遇 重新考慮再工業化發展

中美貿易戰下香港經濟受到一定影響,香港大學經濟及工商管理學院(經濟學)教授鄧希煒認為,香港經濟不能太依賴金融業,應重新考慮發展再工業化。一起聽聽鄧教授分析。

美國大選2020|選戰之後 香江再定位

美國大選臨近,世界政經格局面臨再洗牌,美國國內經濟政策何去何從,其改變又會怎樣影響香港經濟的發展?

特朗普連任對華態度或改變 鄧希煒:不排除有人軟化|財經加零一

美國總統大選進入最後階段,本港時間下周三(4日),各個州份會陸續出現初部結果,究竟會否如大眾所料由民主黨總統候選人拜登入主白宮?或是由特朗普繼續連任?

鄧希煒教授:面對美國及歐洲全面打壓中國如何發展內外雙循環?

中美貿易戰加劇,中國面對歐美打壓會如何發展?香港大學經濟及工商管理學院(經濟學)教授鄧希煒認為,中國未來是由內循環帶動內需去發展經濟,一起聽聽鄧教授分析。

【重磅影片】制裁風暴,行業積弱,誰能拯救香港製造?

編者按:上個世紀,香港憑藉自由港優勢,在大國狹縫中實現經濟騰飛。如今新冷戰襲來,香港遭美國制裁,關稅可能面臨調整,Made in Hong Kong的標籤也行將消失。香港製造還可以振興嗎?端傳媒深入三家香港企業,從產業角度透視香港問題。此項目端傳媒亦與日本放送協會(NHK)合作,為NHK提供調研、採訪和攝影,雙方根據素材獨立完成影片製作。NHK作品 The “Made in Hong Kong” Dilemma已於10月30日於NHK World頻道播出。

Hong Kong must reindustrialise to reinvent its economy

With neighbour Shenzhen poised to pull ahead, Hong Kong needs an economic transformation of its own: it must end its reliance on the financial industry. The city should focus on creating rewarding, good-paying jobs that benefit more than a few by upgrading its workforce and developing a new manufacturing sector based on science and technology.

透視下任美國總統對華政策「政治正確」新常態

Opinion piece by Professor Heiwai Tang, Professor of Economics.

Hong Kong’s third economic transformation – What are we waiting for?

The article 《香港第三次經濟轉型,還等什麼?》 was originally published in Hong Kong Economic Journal column 「龍虎山下」

港大鄧希煒撐再工業化 「香港本身有工業DNA」|財經加零一

Professor Heiwai Tang, Professor of Economics, was quoted by HK01.

【競爭力.三】香港失落最自由經濟體地位 是好事還是壞事?

Professor Heiwai Tang, Professor of Economics, was interviewed by HK01 about HK’s ranking as a free economy.

Beware of the resurgence of populism in the post-pandemic world

民粹主義近年在多國抬頭,與當前全球經濟和政治變局有密不可分的關係,若要分析國際政經發展,必先理解近年民粹主義冒起的原因。 隨着2008-09年全球金融風暴過後,民粹迅速在各地崛起。在美國,繼茶黨運動在2010年興起,特朗普隨後標榜「美國優先」而在2016年當選總統。此外,法國有右翼政黨國民陣線崛起,英國則有獨立黨在不同選舉中取得佳績;就連一向少受民粹運動影響的瑞典和德國,也漸見到民粹黨派興起。至於發展中國家,委內瑞拉總統查韋斯(Hugo Chavez),厄瓜多爾總統科雷拉(Rafael Correa)、玻利維亞總統莫拉萊斯(Evo Morales),均着眼於資源再分配政策;而極右翼民粹主義領袖,則包括巴西總統博爾索納羅(Jair Bolsonaro)和菲律賓總統杜特爾特(Rodrigo Duterte)。2016年英國公投後脫歐,以及2018年展開的中美貿易戰等,都在此形勢下產生,世界經濟與秩序亦相繼出現不穩定性。

Coronavirus yet another twist in trade war

The long-term rivalry between the US and China has since the election of President Trump manifested itself in the form of an economic conflict between the world’s greatest powers. With geopolitical flux now the new normal, Hong Kong citizens’ struggle to maintain their freedoms saw US politicians jump on the bandwagon in 2019; now the COVID-19 is the latest issue that both the US and China are dragging into the general trade war. Who has the upper hand?

Can globalisation survive coronavirus or will the pandemic kill it?

Professor Heiwai Tang, Professor of Economics, was interviewed by SCMP on the future of globalisation after the pandemic

Evolution of globalisation: development and reflections over the past 2 centuries

鑑於2019新冠肺炎(COVID-19)仍在各國蔓延,經濟、政治形勢變化不定,要預測未來幾年世界經濟前景殊不容易,但從近兩個世紀以來全球化的前因後果,當能理出一點線索。

Coronavirus: What’s going to happen to China’s economy?

Professor Heiwai Tang, Professor of Economics, was interviewed by SCMP on China's economy amid coronavirus

Coronavirus cases are dropping – should HK reopen the economy?

Podcast of Professor Heiwai Tang, Professor of Economics, on Hong Kong stimulus package and whether the government should start reopening the economy

【未來基金.上】方向不明 目標不清 三問「港版淡馬錫」

Professor Heiwai Tang, Professor of Economics, was interviewed by HK01 on Future Fund.

【未來基金.下】「港版淡馬錫」 會否淪為「四不像」?

Professor Heiwai Tang, Professor of Economics, was interviewed by HK01 on Future Fund.

“What will the new normal look like when the pandemic ends?”

Professor Heiwai Tang, Professor of Economics, was interviewed by TVB Pearl on the economic impacts of COVID-19.

Prof. Heiwai Tang: A u-shaped recovery is expected for the China’s economy

Professor Heiwai Tang, Professor of Economics, was interviewed by BBC World News on the impacts of COVID-19 to the economy of China.

How coronavirus is changing Beijing’s economic strategy; what the coming collapse in global trade means

Podcast by Professor Heiwai Tang, Professor of Economics, on the business environment when the pandemic is over.

Rebooting Chinese manufacturing is necessary, but yet to offset global economic downturn

3月初,筆者在《南華早報》撰文,論及處於經濟危機及新冠病毒疫情第二波爆發的兩難局面之際,中央政府顯然選擇了復工,以避免經濟危機。過了一個月,疫情第二波幸好沒來臨,製造業大部分企業,尤其是出口企業,根據多個報道,復工程度已達九成。從英國《金融時報》的大數據實時分析【註1】可見,多個跟工業生產相關的指標,如發電廠煤炭用量或交通堵塞程度,都意味着工業逐步復產。

Coronavirus could leave the world an even more unequal place. That would be a real disaster

Article by Professor Heiwai Tang, Professor of Economics, on the business environment when the pandemic is over.

The New Global Economic Reality in Sino-US Game

Interview of Professor Heiwai Tang, Professor of Economics, on US-China trade war

Why the coronavirus is a ticking time bomb in the US: a costly and inefficient health care system

Article by Professor Heiwai Tang, Professor of Economics, on US's costly and inefficient health care system in dealing with COVID-19.

China risks a Covid-19 second wave

“With millions of workers heading back to the factories, dining in the shared cafeterias and sleeping in the shared dormitories, the risk of a second wave of infections could be substantial,” said Professor Heiwai Tang, Professor of Economics.

China’s return to work is good news for the economy – but it also risks unleashing a second wave of Covid-19 infections

Article by Professor Heiwai Tang, Professor of Economics, on COVID-19 outbreak and Chinese economy.

Coronavirus outbreak slashes China’s greenhouse gas emissions

Interview of Professor Heiwai Tang, Professor of Economics, on COVID-19 outbreak and Chinese economy.