Heiwai TANG
Prof. Heiwai TANG
經濟學
Director, Asia Global Institute
Victor and William Fung Professor in Economics (馮國經馮國綸基金教授 (經濟學))
Director, APEC Study Center
Associate Director, Institute of China Economy
Associate Director, Hong Kong Institute of Economics and Business Strategy

3917 0029
3917 4388

MB 335/ KK 920

Academic & Professional Qualification
  • PhD: MIT
  • Bachelor: UCLA
Biography

Heiwai Tang is Victor and William Fung Professor in Economics, Director of the Asia Global Institute and HKU APEC Study Center, as well as the Associate Director Institute of China Economy 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. Since 2021, he has served on a number of public bodies, including the Currency Board Sub-Committee of the HKMA’s Exchange Fund Advisory Committee and the Minimum Wage Commission in Hong Kong.

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
  • ​“Currency Carry Trade by Trucks: The Curious Case of China’s Massive Imports from Itself”, Review of Finance, forthcoming. (with Xuepeng Liu, Zhi Wang, and Shang-Jin Wei)
  • “Do Multinationals Transfer Culture? Evidence on Female Employment in China”, Journal of International Economics, 133, Nov 2021, 103518. (with Yifan Zhang)
  • “Domestic Segment of Global Value Chains in China under State Capitalism”, Journal of Comparative Economics, 48(4), Dec 2020, pp. 797-821. (with Fei Wang and Zhi Wang)
  • “Excessive Entry and Exit in Export Markets”, Journal of the Japanese and International Economies, 53, Sep 2019, 101031. (with Hiro Kasahara)
  • “Why is China Investing in Africa? Evidence from the Firm Level”, World Bank Economic Review, 32(3), Oct 2018, pp. 610-632. (with Wenjie Chen and David Dollar)
  • “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. (with Yasheng Huang)
  • “Domestic Value Added in Exports: Theory and Firm Evidence from China”, American Economic Review, 106(6), Jun 2016, pp. 1402-1436. (with Hiau Looi Kee)
  • “Scale, Scope, and Trade Dynamics of Export Processing Plants”, Economics Letters, 133, Aug 2015, pp. 68-72. (with Ana Fernandes)
  • “Learning to Export from Neighbors”, Journal of International Economics, 94(1), Sep 2014, pp. 67-84. (with Ana Fernandes)
  • “Factor Intensity, Product Switching, and Productivity: Evidence from Chinese Exporters”, Journal of International Economics, 92(2), Mar 2014, pp. 349-362. (with Yue Ma and Yifan Zhang)
  • “International Politics and Import Diversification”, Journal of Law and Economics, 56(4), Nov 2013, pp. 1091-1121. (with Sergey Mityakov and Kevin Tsui)
  • “Exchange Rates and the Margins of Trade: Evidence from Chinese Exporters”, CESIfo Economic Studies, Symposium on China’s Trade Performance, 58(4), Dec 2012, pp. 671-702. (with Yifan Zhang)
  • “Determinants of Vertical Integration in Export Processing: Theory and Evidence from China”, Journal of Development Economics, 99(2), Nov 2012, pp. 396-414. (with Ana Fernandes)
  • “Labor Market Institutions, Firm-specific Skills, and Trade Patterns”, Journal of International Economics, 87(2), Jul 2012, pp. 337-351.
Awards and Honours
  • Hong Kong RGC Grant, Co-PI, HKD 418,975, 2022-2024
  • 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
  • Insurance Authority in Hong Kong SAR, 2022 –
  • Currency Board Sub-Committee of the HKMA Exchange Fund Advisory Committee, Member, 2021-
  • Minimum Wage Commission in Hong Kong SAR, Member, 2021 –
  • Pacific Economic Review, Managing Editor, 2022 –
  • 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
確保糧食安全 農業科技絕不可少

自全球新冠肺炎疫情及俄烏戰爭爆發以來,各國在維持供應鏈穩定和糧食安全問題方面一直面對史無前例的挑戰。2050年,預計全球將需要養活接近100億的人口,加上糧食供應會受到一些不可預測的短期衝擊,以至長期氣候變化加劇對土地水源的影響,環球農業將面臨巨大的考驗,對豐富和廉價食品的供應造成嚴重壓力。香港90%以上的食品供應是從國外進口,所以700多萬人口的糧食安全,長遠來看亦會備受衝擊。

確保糧食安全 農業科技絕不可少

自全球新冠肺炎疫情及俄烏戰爭爆發以來,各國在維持供應鏈穩定和糧食安全問題方面一直面對史無前例的挑戰。2050年,預計全球將需要養活接近100億的人口,加上糧食供應會受到一些不可預測的短期衝擊,以至長期氣候變化加劇對土地水源的影響,環球農業將面臨巨大的考驗,對豐富和廉價食品的供應造成嚴重壓力。香港90%以上的食品供應是從國外進口,所以700多萬人口的糧食安全,長遠來看亦會備受衝擊。

RCEP貿易協定為香港帶來新機遇

香港大學亞洲環球研究所所長、馮國經馮國綸基金教授(經濟學)鄧希煒也指出,RCEP是亞洲的貿易協定,是為亞洲而定,而亞洲是目前經濟增長最快的區域,RCEP中各國的中產階層快速增加,預計未來10年中產人口會倍增至10億,為區內各項服務帶來更多需求。

香港“芯”動力:危中求機再出發

美國芯片法出台,半導體產業的全球地緣政治競爭加劇。面對競爭,在全球產業浪潮中,歷經起伏的香港半導體產業,又將如何以自己所長,服務國家所需?來看今天的競逐芯戰略系列報道。香港大學亞洲環球研究所所長鄧希煒:“美國一直會繼續,打壓香港和國家的科技發展,這個是大家預料之內的。

香港通往亞洲碳交易中心之綠路

筆者去年與香港生產力促進局合作研究香港再工業化與未來經濟轉型之路,研究瑞士當地的經濟社會情況和香港綠色產業。故筆者樂見港交所近日宣布成立國際碳市場委員會,推動香港實現碳中和,及加快投入發展綠色和可持續金融生態圈。同時希望藉此文拋磚引玉,借鑑瑞士發展碳交易的過程,與讀者一起探討香港在此方面的發展機遇。

香港通往亞洲碳交易中心之綠路

筆者去年與香港生產力促進局合作研究香港再工業化與未來經濟轉型之路,研究瑞士當地的經濟社會情況和香港綠色產業。故筆者樂見港交所近日宣布成立國際碳市場委員會,推動香港實現碳中和,及加快投入發展綠色和可持續金融生態圈。同時希望藉此文拋磚引玉,借鑑瑞士發展碳交易的過程,與讀者一起探討香港在此方面的發展機遇。

特稿:美國加息步伐或提速 日元貶值潮料持續

香港中通社6月14日電 (記者 關秀英)美國聯邦儲備局14日起一連兩日召開議息會議。美國在上月通脹率升至8.6%,再創40年新高後,美國多個媒體預測,局方很可能大幅加息,市場預期美聯儲加息75個基點,令美元再創近20年新高。香港經濟學家估計,美聯儲或在本周加息75個基點,而最近走勢疲弱,不斷創新低的日元亦可能會進一步下跌。

Minimal capital outflow despite rate rises

A member of the Monetary Authority's currency board subcommittee says it is still the best option for Hong Kong to maintain its dollar peg to the greenback. Professor Tang Heiwai, the Director of the University of Hong Kong's Asia Global Institute, said despite recent interest rate rises by the US Federal Reserve, there had been minimal capital outflow of Hong Kong dollars to US dollars. He spoke to Janice Wong.

特稿:歐盟同意禁運俄石油 此舉將對全球帶來什麽影響?

歐洲理事會主席米歇爾表示,歐盟領導人同意禁止俄羅斯向歐盟27個成員國出口石油,這項措施將涵蓋超過三分之二來自俄羅斯的石油。此舉一旦落實,將會對全球帶來什麽影響?會否帶動石油價格再次飆升?