Andrew J. Sinclair
Visiting Assistant Professor of Finance
California Institute of Technology
Assistant Professor of Finance (on leave)
The University of Hong Kong
Assistant Professor (by courtesy)
Hong Kong Institute for the Humanities and Social Sciences
I am a Visiting Assistant Professor of Finance at Caltech and currently on leave from The University of Hong Kong (HKU). I study China and my research focuses on how China's unique political economy affects financial market outcomes and development.
At Caltech I teach a course called "Understanding China through Finance," where we develop a framework for understanding how China's political economy affects the incentives of market participants, and we use this framework to analyze and reconcile the many puzzles of Chinese finance.
I am visiting Caltech from August 2022 to July 2024, and I joined HKU in 2017 after receiving my PhD in financial economics from Yale University the same year.
Published and Accepted Papers
1. Banking on the Confucian Clan: Why China Developed Financial Markets So Late [Paper Link]
Zhiwu Chen, Chicheng Ma, and Andrew Sinclair, The Economic Journal, 2022, 132 (644)
2. Wealth, Endogenous Collateral Quality, and Financial Crises [Paper Link]
Zehao Liu and Andrew Sinclair, Journal of Economic Theory, 2022, 204 (105526)
3. Do Prime Brokers Intermediate Capital? [Paper Link]
Andrew Sinclair, Journal of Financial Intermediation, 2022,101004
Working Papers
4. Implicit Government Guarantees
Andrew Sinclair, February 2024
5. Discounting Chinese Industrial Policy
Andrew Sinclair and Chuyi Zhang, February 2024
6. Price Controls and Wealth Redistribution in the Chinese IPO Market
Yongning Deng, Andrew Sinclair, and Chuyi Zhang, August 2022
7. Retail Hedge Funds [SSRN Link]
Andrew Sinclair and Chuyi Zhang, August 2022
8. Does Portfolio Disclosure Make Money Smarter? [SSRN Link]
Byoung Uk Kang, Andrew Sinclair, and Stig Xenomorph, June 2021