Development Studies PhD student Shidai Zhang has won the Elsevier China Economic Review 2024 Best Paper Award for his work ‘One System, Two Shadows’: A local public finance perspective on China's shadow banking system. Shidai's paper, co-authored with Kellee Tsai, investigates the systemic financial risks posed by the interdependence between Chinese shadow banking and local debt.
Read Shidai's paper here: https://www.sciencedirect.com/science/article/pii/S1043951X24000981
Read the award announcement here: https://www.sciencedirect.com/journal/china-economic-review/about/awards/elsevier-china-economic-review-best-paper-award-2024