The 2nd Workshop on International Macroeconomics and Finance
Macau, September 11, 2026
Hosted by Asia-Pacific Academy of Economics and Management and Department of Economics, University of Macau
Organizers: Leona Li, Chang Ma, Yubo Tao, Yibai Yang and Sili Zhou
Conference venue:
Room E21B-G002
Faculty of Social Sciences
Humanities and Social Sciences Building
University of Macau
E21B Avenida da Universidade
Taipa, Macau
Preliminary Program:
All times are in China Standard Time (CST).
The program is still being prepared and subject to changes.
9:00 – 9:10 Welcome remarks
Richard Weixing Hu, Dean of Faculty of Social Sciences (University of Macau)
9:10 – 10:10 Keynote - Payment Methods and Market Feedback in Mergers and Acquisitions
Chair: Yubo Tao (University of Macau)
Liyan Yang (University of Toronto)
10:10 – 10:30 Tea Break
10:30 – 11:10 Pricing the Global Trade Vulnerability
Jiatao Liu (Xi’an Jiaotong-Liverpool University)
Jun Pan (Shanghai Jiao Tong University)
Discussant: Runsen Guan (University of Macau)
11:10 – 11:50 Capital Flees Outward: Political Turnover and Chinese Outward Direct Investment
Runsen Guan (University of Macau)
Chang Ma (Fudan University)
Sili Zhou (University of Macau)
Discussant: Haonan Zhou (University of Hong Kong)
11:50 – 12:30 Global Reach, Local Depth: Stablecoin Choice Across Chains
Haonan Zhou (University of Hong Kong)
Xiang Fang (University of Hong Kong)
Amy W. Huber (University of Hong Kong)
Discussant: Jiatao Liu (Xi’an Jiaotong-Liverpool University)
12:30 – 12:40 Group Photo Taking
12:45 – 14:30 Lunch at Grand Plaza
14:30 – 15:30 Keynote – A Lost Decade of Fiscal Misallocation
Chair: Leona Li, University of Macau
Michael Song (Chinese University of Hong Kong)
15:30 – 16:00 Coffee Break
16:00 – 16:40 Tariff Wars and Endogenous Growth
Haorong Shao (HEC Lausanne)
Discussant: Anxu Wang (Peking University)
16:40 – 17:20 Trade Credit Transmission of Financial Shocks: Theory and Evidence from China's Real Estate Deleveraging
Anxu Wang (Peking University)
Haoxuan Su (Peking University)
Yang Yao (Peking University)
Discussant: Haorong Shao (HEC Lausanne)
17:20 – 18:00 The Geoeconomics of Imports: Evidence from UN Security Council Elections
Yanduo Chen (Singapore Management University)
Jing Wu (Chinese University of Hong Kong)
18:30 – 21:00 Dinner at Lisboa Bistrô
Arrival and directions:
I: From Hong Kong airport to UM
https://www:macauhkairportbus:com/
When you arrive at Hong Kong Airport, You can take the Macau Hong Kong Airport Direct to arrive the Hong Kong - Zhuhai - Macau Bridge (HZMB) Macau Port and enter Macau. After that, you can take taxi from HZMB Macau Port directly to UM campus:
Note: If you take this direct bus, you won't need to go through passport control or enter Hong Kong: Airport staff will collect your checked-in luggage and bring it to you before you board the bus:
II: From Macau airport to UM
When you arrive at Macau Airport, you can take taxi from Airport directly to UM campus.
Remark: Please prepare some cash to pay the taxi fare in Macao (it can be in MOP or HKD)
Accommodation:
澳門大學 N1 聚賢樓
UM Guest House (N1)
地址:澳門氹仔大學大馬路澳門大學，N1 聚賢樓
Address: N1, Avenida da Universidade, Taipa, Macau, China
Notes: The nearest airport is Macau International Airport which is well-connected to major Asian cities but has no direct flights to and from Europe and America. Major airports in the region include Hong Kong International Airport and airports of Shen Zhen, Zhuhai, and Guang Zhou.
Free Registration:
For inquiries, please email silizhou@um.edu.mo
Contact:
Bruna Kuan brunakuan@um.edu.mo