We test the asset pricing implications of collateralized borrowing using the Chinese structured A-B funds. The funds are special in that the prices for the same asset with and without leverage are simultaneously observed with the leverage exogenously determined and time-varying. We find that...

This paper aims to make contributions to comparative analysis of regional economic dynamics in China and the US from the methodological perspective. More specifically, some recent advances in exploratory space-time data analysis (ESTDA) will be suggested and implemented to conduct this task in...