【主讲人】胡佳胤 副教授
【主持人】高明 长聘副教授
【报告题目】Empowering through Courts: Judicial Centralization and Municipal Financing in China

【报告摘要】This study finds that reducing political influence over local courts weakens local government debt capacity. We establish this result by exploiting the staggered roll-out of a judicial centralization reform to alleviate local court capture in China. We find reduced judicial favoritism towards local governments post-reform. The majority of local government lawsuits are with contractors over government payment delays. The reform not only increases government lawsuit losses but also exposes their credit risk, as payment delays without court support signal government liquidity constraints. Investors respond by tightening lending and increasing interest rates, which curbs government spending.

【主讲人介绍】胡佳胤现任北京大学国家发展研究院助理教授，北京大学数字金融研究中心研究员，北京大学中国经济研究中心研究员。研究领域为金融科技、银行学和公司金融，目前关注的研究议题包括：大科技平台的金融创新如何影响银行业格局和利率市场化改革、金融科技借贷中的契约执行和信用信息共享机制、影子银行和中国地方政府债务问题等。她正在或曾经教授的课程包括《中级宏观经济学》《高级宏观经济学》《银行和公司金融专题》等，并参与北大数字金融Workshop的组织工作。她于2014年在清华大学经济管理学院获得经济学学士学位，2019年在美国哥伦比亚大学获得经济学博士学位。