Staff profile

• Exchange Rate Theory and Policy
• International Finance
• Chinese Financial Markets
• Emerging Economy Finance
• Economics of Transition

• Economics & Finance Department

Chapter in book

• Pan, Y., Nie, J., Zhou, S., Wu, X. & Zhang, Z. (2013). The Options for Reforming the Renminbi Exchange Rate Regime. In Financial Systems at the Crossroads. Woo, W.T., Pan, Y., Sachs, J.D. & Qian, J. World Scientific Publishing.
• Zhang, Z., Chau, F. & Shi, N. (2012). A curious Partnership in Global Imbalances: China’s Continual Accumulation of US Treasuries. In China's Role in Global Economic Recovery. Fu, X Routledge. 18-40.
• Zhang, Z. (2002). China’s Foreign Exchange Policy in a Time of Change. In Contemporary China: The Dynamics of Change at the Start of the New Millennium. Preston, P. & Jurgen, Haacke. London: RoutledgeCurzon.

Journal Article

• Zhang, F. & Zhang, Z. (2018). Strategic asset allocation by mixing shrinkage, vine copula and market equilibrium. Journal of Forecasting 37(3): 340-351.
• Wang, Yunfei, Li, Xiaozhou, Zhang, Zhichao & Zhang, Zhuang (2018). Rise of the gold market in China: liberalisation and market development. Journal of Chinese Economic and Business Studies 16(1): 17-38.
• Zhang, Z., Li, H. & Zhang, C. (2017). Oral Intervention in China: Efficacy of Chinese Exchange Rate Communications. International Review of Financial Analysis 49: 24-34.
• Li, H., Zhang, Z. & Zhang, C. (2017). China's Intervention in the Central Parity Rate: A Bayesian Tobit Analysis. Research in International Business and Finance 39(Part A): 612-624.
• Dixon, R., Zhang, Z. & Dai, Y. (2016). Exchange Rate Flexibility in China: Measurement, Regime Shifts and Driving Forces of Change. Review of International Economics 24(5): 875-892.
• Zhang, Zhichao, Xie, Li, Lu, Xiangyun & Zhang, Zhuang (2016). Determinants of Financial Distress in Large Financial Institutions: Evidence from U.S. Bank Holding Companies. Contemporary Economic Policy 34(2): 250-267.
• Xie, Li, Woo, Wing Thye, Zhang, Zhichao & Zhang, Zhuang (2015). A Multiple Goal Investment Strategy for Sovereign Wealth Funds: An Application to China. Asian Economic Papers 14(1): 78-97.
• Zhang, Zhichao (2015). Comments on Monetary Policy and Structural Decline: Lessons from Japan for the European Crisis. Asian Economic Papers 14(1): 151-153.
• Nie, Jing, Zhang, Zhichao, Zhang, Zhuang & Zhou, Si (2015). Currency Exposure in China under the New Exchange Rate Regime: National Level Evidence. China and World Economy 23(3): 97-109.
• Zhang, Z., Ding, L., Zhang, F. & Zhang, Z. (2015). Optimal Currency Composition for China’s Foreign Reserves: a Copula Approach. World Economy 38(12): 1947-1965.
• Zhang, Zhichao, Ding, Li, Zhou, Si & Fu, Yaoyao (2014). Fund Family Tournament and Performance Consequences: Evidence from the UK Fund Industry. Multinational Finance Journal 18(1/2): 43-84.
• Zhang, Z., Ding, L. & Zhou, S. (2014). Investor learning and mutual fund family. Journal of Empirical Finance 26: 171-188.
• Zhang, Z., Chau, F. & Zhang, W. (2013). Exchange Rate Determination and Dynamics in China: A Market Microstructure Analysis. International Review of Financial Analysis 29: 303-316.
• Zhang, Z., Chau, F. & Li, X. (2013). Accumulation of Large Foreign Reserves in China: A Behavioural Perspective. Economic Change and Restructuring 46(1): 85-108.
• Miao, B., Zhou, S., Jing, N. & Zhang, Z. (2013). Renminbi Exchange Rate Exposure: Evidence from Chinese Industries. Journal of Chinese Economic and Business Studies 11(4): 229-250.
• Zhang, Z., Zhang, F. & Zhang, Z. (2013). Strategic Asset Allocation for China’s Foreign Reserves: A Copula Approach. China and the World Economy 21(6): 1-21.
• Song, W., Zhang, Z., Sun, X. & Shi, N. (2013). Subordinated debt as instrument of market discipline: risk sensitivity of sub-debt yield spreads in UK banking. Journal of Economics and Business 73(May - June): 1-21.
• Li, W. & Zhang, Z. (2012). International Capital Flows, the Domestic Employment and Wages: Perspectives from China’s Different Provinces. China Finance Review International 2(3): 286-310.
• Zhang, Z. (2008). A new perspective on financial anomalies in emerging markets: the case of China. Applied Financial Economics 18(21): 1681-1695.
• Lu, M. & Zhang, Z. (2003). Exchange rate reform and its inflationary consequences: an empirical analysis for China. Applied Economics 35(2): 189-199.
• Zhang, Z. (2002). Real exchange rate behaviour under Hong Kong's linked exchange rate system: An empirical investigation. International Journal of Theoretical and Applied Finance 5(1): 55-78.
• Zhang, Z. (2001). Choosing an exchange rate regime during economic transition: the case of China. China Economic Review 12(2-3): 203-226.
• Zhang, Z. (2001). China's exchange rate reform and exports. Economics of Planning 34(1-2): 89-112.
• Zhang, Z. (2001). Real exchange rate misalignment in China: An empirical investigation. Journal of Comparative Economics 29(1): 80-94.
• Zhang, Z. (2000). Exchange Rate Reform in China: An Experiment in the Real Targets Approach. The World Economy 23(8): 1057-1081.
• Lu, M. & Zhang, Z. (2000). Parallel exchange market as a transition mechanism for foreign exchange reform: China's experiment. Applied Financial Economics 10(2): 123-135.

Presentation

• Zhang, Z. (2012), Measuring China’s Exchange Rate Flexibility. Progress Report to Project on Reforming International Monetary System, Jiao Tong University., Jiao Tong University.
• Zhang, Z. (2011), Exchange Rat Exchange Exposure in Chinese Firms, 2011 Shanghai Forum.