Multinational Firms and FDI

• Uncertainty, imperfect information, and expectation formation over the firm’s life cycle,

with Cheng Chen (Clemson U), Tatsuro Senga (Keio U), and Chang Sun (HKU), 

Journal of Monetary Economics, November 2023. Open Access 

Previously circulated as "Uncertainty, Imperfect Information, and Learning in the International Market"

• Moving out of China? Evidence from Japanese multinational firms, 

with Changyuan Luo (Fudan U) and Chunxiao Si (Shanghai U),

Economic Modelling, May 2022. 

• Learning and information transmission within multinational corporations,

with Cheng Chen (Clemson U) and Chang Sun (HKU), 

European Economic Review, April 2022. Open Access 

• The Impact of COVID-19 on Global Production: Evidence from Japanese Multinational Firms,

The International Economy, December 2021. Open Access

Published by The Japan Society of International Economics.

[Covid Economics] [VoxEU Column] 

• Networks of foreign affiliates: Evidence from Japanese micro-data, 

with Dorothée Rouzet (OECD) and Francesca Spinelli (OECD),

The World Economy, July 2020. 

[VoxEU Column] 

• Markups and exporting behaviors of foreign affiliates, 

with Lianming Zhu (U Osaka), 

Journal of Comparative Economics, August 2017. 

Trade and Trade Policy

• Global Sourcing and Firm Inventory During the Pandemic, 

with Ha Thi Thanh Doan (ERIA),

Emerging Markets Finance and Trade, 2026. 

[VoxEU Column]

• The impact of export controls on international trade: Evidence from the Japan-Korea trade dispute in the semiconductor industry, 

with Ryo Makioka (Hokkaido U),

Journal of the Japanese and International Economies, December 2024. 

[VoxEU Column]

• Technical barriers to trade, product quality and trade margins: firm-level evidence, 

with Ha Thi Thanh Doan (ERIA), 

Review of World Economics, August 2024. 

• Measuring business-level expectations and uncertainty: survey evidence and the COVID-19 pandemic, 

with Cheng Chen (Clemson U) and Tatsuro Senga (Keio U), 

The Japanese Economic Review, July 2021. Open Access 

Published by the Japanese Economic Association.

• The US-China Trade War: Implications for Japan’s Global Value Chains, 

in Etel Solingen (UC Irvine) (eds.) Geopolitics, Supply Chains, and International Relations in East Asia, 

Cambridge University Press, May 2021. 

• The Margins of Intermediate Goods Trade: Theory and Evidence,

with Tomohiro Ara (Fukushima U), 

The International Economy, July 2020. Open Access 

Published by The Japan Society of International Economics.

• Impacts of the WTO accession on Chinese exports,

with Ryuhei Wakasugi (Kyoto U),  

Journal of Chinese Economic and Business Studies, May 2016. 

The Political Economy of China

• Economic Power of Political Leaders: Evidence from Central Leaders' Local Tours in China, 

with Asei Ito (UTokyo) and Jaehwan Lim (Aoyama Gakuin), 

The Developing Economies, forthcoming. Open Access 

[The Economist]

• Following the Leader: Belt and Road Initiative in Xi Jinping’s Evolving Policy Agenda, 

with Asei Ito (UTokyo) and Jaehwan Lim (Aoyama Gakuin), 

in Min Ye (Boston U) et al. (eds.) Traversing the Belt and Road: The World According to China and China According to the World, 

Harvard University Press, October 2026. 

• Unpacking China’s Wolf Warrior Diplomacy: A Text-As-Data Approach,

with Asei Ito (UTokyo) and Jaehwan Lim (Aoyama Gakuin), 

Journal of Contemporary China, July 2026. Open Access 

Most read article published by the journal in 2025. [The Economist]

• Measuring political leader's geopolitical risk perceptions, 

with Asei Ito (UTokyo) and Jaehwan Lim (Aoyama Gakuin), 

International Economics, October 2025. Open Access 

• Remembering Li Keqiang: Policy Divergence in Zhongnanhai and Its Economic Consequences,

with Asei Ito (UTokyo) and Jaehwan Lim (Aoyama Gakuin), 

The China Quarterly, June 2025. Open Access

Published by Cambridge University Press. 

• Uncovering Xi Jinping’s Policy Agenda: Text as Data Approach, 

with Asei Ito (UTokyo) and Jaehwan Lim (Aoyama Gakuin),

The Developing Economies, March 2025. Open Access

Editor's Choice, Top 10% of most-viewed papers published by the journal in 2024. 

• Xi Jinping' s Important Speeches as Data, 

with Asei Ito (UTokyo) and Jaehwan Lim (Aoyama Gakuin), 

Asia-Pacific Review, October 2024. 

• Catching the political leader's signal: Economic policy uncertainty and firm investment in China,

with Asei Ito (UTokyo) and Jaehwan Lim (Aoyama Gakuin), 

China Economic Review, October 2023. 

• Political connections and antidumping investigations: Evidence from China,

China Economic Review, August 2018. 

Development and Growth

• The value-added tax reform and labor market outcomes: Firm-level evidence from China,

with Yuxiang Yang (Wuhan U)

China Economic Review, October 2021. 

• Understanding the international mobility of Chinese temporary workers,

The World Economy, March 2019. 

• How does agglomeration promote the product innovation of Chinese firms?

China Economic Review, September 2015.

[VoxEU Column]