Assistant Professor in Business Economics
- Ph.D. in Economics, The Chinese University of Hong Kong, Hong Kong SAR
- M.A. in Quantitative Methods, Columbia University, United States
- B.A. in Economics, Peking University, China
- UM Macao Fellow, Faculty of Business Administration, University of Macau, 2016-2019
- Visiting Scholar, Department of Economics, The Chinese University of Hong Kong, Fall 2017
- Research/Teaching Assistant, Department of Economics, The Chinese University of Hong Kong, 2010-2014
- Research Officer, Institute for the Study of Commercial Gaming, Faculty of Business Administration, University of Macau, 2009-2010
- Business Analyst, Elsevier Inc., New York City, United States, 2008-2009
- T.K. Ann International Trade Award (安子介國際貿易研究獎, Excellent Paper, Third Prize)
- Excellent Teaching Assistant Award, The Chinese University of Hong Kong
- Highest GPA Award, The Chinese University of Hong Kong
- Hong Kong PhD Fellowship Scheme, Hong Kong Research Grants Council
- Mitofsky Scholarship, Columbia University
- ISERP Research Fellowships, Columbia University
- Undergraduate Courses
- Principles of Macroeconomics (BECO1001)
- The Economics for Development (BECO4006)
- Graduate Courses
- Economics for Business (MBA) (BECO7011)
- Economic development and growth
- International trade and regional integration
- Economics of entrepreneurship
- Chinese Economy
- “Welfare Implications of Service Trade: A General Equilibrium Analysis with Applications to Macao” (PI). APAEM, University of Macau, 2025–2026.
- “From macro to micro: Trade policy uncertainty and firm decisions” (PI). APAEM, University of Macau, 2024–2025.
- “Career incentives of local leaders and firm dynamics in China” (PI). APAEM, University of Macau, 2023-2024.
- “Entrepreneurial entry and corporate innovation under the U.S.-China trade war” (PI). University of Macau, 2023–2024.
- “The impact of macroeconomic events and policies on business formation and corporate decisions” (PI). University of Macau, 2019–2022.
- “Determinant Analysis of Chinese Outbound Tourism: A Political Economy Perspective” (Co-PI). Higher Education Bureau Macau SAR, 2020–2022.
- “Task specialization in the global economy: Theory, empirics, and implications for China” (PI). National Natural Science Foundation of China, 2019–2021.
- “Global value chain and business cycle co-movement: Based on open economy multisector DSGE model” (Co-PI). National Natural Science Foundation of China, 2017–2019.
- “Production network in the global economy and its implications” (Co-PI). University of Macau, 2018–2021.
- Li, L. S., Liu, Y., & Yuan, J. (2025). The effect of the US-China trade war on Chinese corporate innovation: A curse or a blessing? World Economy, 48(7). (ABS2)
- Cui, C. & Li, L. S. (2023). Trade policy uncertainty and new firm entry: Evidence from China. Journal of Development Economics, 163, 103093. (ABS3)
- Yang, F. X., Li, L. S., Yang, G., & Yuan, J. (2023). Political ideological distance and tourism demand: The cultural–political interplay. Annals of Tourism Research, 98, 103525. (ABS4)
- Cui, C. & Li, L. S. (2021). The effect of the US-China trade war on Chinese new firm entry. Economics Letters, 203, 109846. (ABS3)
- Chen, J. J., Ko, I. M., Li, L. S., & Yang, F. X. (2021). Are better-connected CEOs more socially responsible? Evidence from the U.S. restaurant industry. Tourism Management, 85, 104304. (ABS4)
- Chen, J. J., Cui, C., Hunt, R. A., & Li, L. S. (2020). External enablement of new venture creation: An exploratory, query-driven assessment of China’s high-speed rail expansion. Journal of Business Venturing, 35(6), 106046. (ABS4*, FT50)
- Cui, C., Li, L. S., & Peng, D. (2021). Value-added exports and the skill premium: Evidence from China’s international and regional production networks. Pacific Economic Review, 26(2), 183–211. (ABS2)
- Cui, C. & Li, L. S. (2019). High-speed rail and inventory reduction: Firm-level evidence from China. Applied Economics, 51(25), 2715–2730. (ABS2)
- Li, L. S., Yang, F. X., & Cui, C. (2019). High-speed rail and tourism in China: An urban agglomeration perspective. International Journal of Tourism Research, 21(1), 45–60. (ABS2)
- Yang, D., Cui, C., & Li, L. S. (2013). China’s high savings and external imbalances: Causes and policies. Journal of Financial Market Research, Vol. 8. (Chinese)
- Fong, K. C., Fong, H. N., & Li, L. S. (2011). The social cost of gambling in Macao: Before and after the liberalization of the gambling industry. International Gambling Studies, 11(1), 43–56.
- Three chapters in Report on the Recommendations to the 19 Measures from Premier Li Keqiang for Boosting the Substantiality and Diversification of Economy of Macao, University of Macau, May 2018.
- “More but not better: Career incentives of local leaders and entrepreneurial dynamics in China” (with C. Cui). Reject & Resubmit at AEJ: Economic Policy.
- “FDI as a strategic response to trade policy uncertainty” (with T. Hu and J. Yuan). Under review.
- “Unbundling the smile curve: Task specialization in a global economy” (with D. Yang).
- “Experiencing the Kuznets curve: Structural transformation and regional inequality in China” (with B. Li and D. Peng).
- World Congress of the Econometric Society, Seoul, Korea (Aug. 2025)
- 11th International Conference on the Chinese Economy, Suzhou, China (Dec. 2024)
- Seminar, Hong Kong Baptist University, Hong Kong SAR (Nov. 2024)
- Asian Meeting of the Econometric Society, East and Southeast Asia, Singapore (Jul. 2023)
- Asian Meeting of the Econometric Society, Beijing, China (Jun. 2023)
- International Conference on US-China Trade Disputes and Re-architecture in Globalization, Beijing, China (Dec. 2022)
- Meeting of the Econometric Society in East and South-East Asia, Virtual (Aug. 2022)
- Australasian Meeting of the Econometric Society, Virtual (Jun. 2022)
- European Winter Meeting of the Econometric Society, Virtual (Dec. 2021)
- WEA International Annual Conference, Virtual (Jun. 2021)
- Chinese Economist Society Annual Meeting, Virtual (Jun. 2021)
- NSFC Annual Conference (Economics Section), Kunming, China (Oct. 2019)
- WEA International’s 15th International Conference, Tokyo, Japan (Mar. 2019)
- Seminar, The Chinese University of Hong Kong, Hong Kong (Aug. 2018)
- China Meeting of Econometric Society, Wuhan, China (Jun. 2017)
- CEIBS Economics Symposium, Shanghai, China (May 2017)
- IARIW-UNSW Conference on Productivity, Sydney, Australia (Nov. 2013)
- WIOD Conference: Causes and Consequences of Globalization, Groningen, The Netherlands (Apr. 2012)
- Macau Business Magazine (Apr. 13, 2025): Fertility and demographic changes
- TDM (Macau Television Station) (Jun. 8, 2025): U.S.-China trade war
- TDM (Macau Television Station) (Jul. 12, 2025): Economic structural change