China Economic Quarterly 2014-2015（Volume 14）

Dr. Werner Jackstädt Best Paper Award for Chinese Economic and Business Studies

The China Economic Quarterly 2014-2015（Volume 14）Dr. Werner Jackstädt Best Paper Award for Chinese Economic and Business Studies goes to “Family credit constraint, public education expenditure, and social mobility in China”, published in No.1, Volume 14, authored by Lixing Li(National School of Development, Peking University) and Guangsu Zhou (presently working in School of Economics, Nankai University).

Lixing Li

Guangsu Zhou

Remarks from the Award Committee：

This empirical paper studies the impact of credit constraint on social immobilization from the perspective of intergenerational transmission of human capital and income. Standard econometric models were estimated with CHARLS 2011 and CGSS 2008 data and results suggest that credit constraint indeed strengthens the intergenerational transmission of education and income and hence, lower the mobility. Moreover, the public education expenditure was considered to investigate its effect on intergenerational transmission. The authors found that it does weaken the effect of credit constraint since the lower income families can invest in human capital with little cost and some can escape from intergenerational transmission causality. Empirical findings in this paper are conformable with intuition and provide sound evidence on intergenerational transmission and the related policy implications.

China Economic Quarterly 2014-2015（Volume 14）Dr. Werner Jackstädt Annual Best Paper Award Nominees(in random order):

1) Yaowu Wu and Qian Liu， “The Impact of Higher Education Expansion on the Marriage Market: Single Women? Single Men?”， China Economic Quarterly, 2014, 14(1),pp.5-30

2) Lixing Li and Guangsu Zhou, “Family credit constraint, public education expenditure, and social mobility in China”, China Economic Quarterly, 2014, 14(1), pp.65-82.

Introduction to the China Economic Quarterly Dr. Werner Jackstädt Best Paper Award for Chinese Economic and Business Studies

In order to encourage high-quality economic research, China Economic Quarterly set up the Annual Best Paper Award since its inception. Each year one paper is selected as the best paper from the volume published in that year. Starting in 2010, the award is renamed as Dr. Werner Jackstädt Best Paper Award for Chinese Economic and Business Studies, and from 2014 the prize is set to RMB 40,000 yuan.

The winner is decided by majority votes on the nominated papers from the award committee, which is comprised of the four editors of China Economic Quarterly and Prof. Dr. Carsten Herrmann-Pillath from the East-West Centre for Business Studies and Cultural Science, Frankfurt School of Finance & Management.

This award is financially sponsored by the Dr. Jackstädt Foundation and supported by The East West Centre for Business Studies and Cultural Science at Frankfurt School.

Dr. Jackstädt was an entrepreneur who had made outstanding contribution to the post-war German economic miracle. The mission of the Dr. Jackstädt Foundation is to support the research in the field of medicine and management science, and to help the development of Wuppertal, Dr. Jackstädt’s hometown (which is also the hometown of Engels).