“正午阳光——青年学者论坛”是金融学院定期举办的以院内师生参与为主的学术交流活动，为全院专家学者之间、师生之间、南开金融与国际国内学术界之间提供了难得的交流机会。本学期“正午阳光”论坛初心不改，扬帆远航再出发，致力于营造学院学校科研氛围，推动师生学术科研水平不断提升！

2026年春季学期 “正午阳光——青年学者论坛”第9期活动安排如下：

讲座题目：Growing exports like China: processing and ordinary trade with financial frictions

主讲人：夏天

南开大学金融学院准任副教授，加州大学戴维斯分校博士。研究领域为国际金融，货币经济学。研究成果发表于Journal of International Money and Finance，Applied Economics。

讲座时间：2026年5月28日（周四）12:00-13:30

讲座地点：金融学院116教室

内容摘要

We study the role of financial frictions and balance-sheet effects in accounting for China’s transition from processing to ordinary trade. We investigate a small open economy model with heterogeneous firms and endogenous entry in ordinary trade and processing markets, in which firms face financing constraints, and export is more capital-intensive than processing. At the aggregate level, financial friction distorts firms’ production decisions at the extensive and intensive margins and incentivizes processing over ordinary trade. Using the model, we demonstrate the economic consequences of China’s pro-processing and trade liberalization policies from the 1980s to the present.