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Dr Huiwen LAI
  • Associate Professor
University of Toronto
2766 7028
2356 9845
Research Area:
Finance & Financial Services

Consulting, Research and Teaching Interests:
  • International economics and development economics
  • Cost of equity capital and firm valuation

Dr. Lai is an Associate Professor in the School of Accounting and Finance at the Hong Kong Polytechnic University.  He received his Ph.D in economics from the University of Toronto, master degree in economics from Northeast University of Finance and Economics, and bachelor degree in mathematics from Sichuan University. His research interests include determinants of international trade flows, the performance of Chinese exporting firms, macroeconomic forecasting, and relations between macroeconomic and aggregate accounting variables.  His works have been published in journals such as the Review of Economics and Statistics, the Journal of International Economics, Journal of Financial and Quantitative Analysis, European Economic Review, the Journal of Development Economics, and Canadian Journal of Economics.

Prior to joining Hong Kong Polytechnic University, Dr. Lai spent 10 years working in the industry in US. The companies he has worked for include SAS Institute Inc., Bank of America, Wachovia Bank, and Wells Fargo Bank.  Among many industry applications he developed over the years, he is particularly interested in applying SAS & Econometric principles to problems originated from large corporation databases.

“Intellectual Property Enforcement, Exports and Productivity of Heterogeneous Firms in Developing Countries: Evidence from China” with Keith Maskus and Lei Yang, European Economic Review, forthcoming.

"On the Expected Earnings Hypothesis Explanation of the Aggregate Returns-Earnings Association Puzzle” with Warren Bailey, Journal of Financial And Quantitative Analysis, forthcoming.

"Multinational Price Premium" (2015) with Ying Ge and Susan Zhu, Journal of Development Economics, (115),181-199. 

“Forecasting US Recession: Probit and Dynamic Factor Modeling Approach” (2011) with Zhihong Chen and Azhar Iqbal, Canadian Journal of Economics, 44(2), 651-672.   

 “Technology, Endowments, and the Factor Content of Bilateral Trade” (2007) with Susan Zhu, Journal of International Economics. 71, 389-409.

 “U.S. Exports and Multinational Production” (2006) with Susan Zhu, Review of Economics and Statistics. 88(3), 531-548. 

"The Determinants of Bilateral Trade: A Theory with Econometric Application” (2004) with Susan Zhu, Canadian Journal of Economics. 37(2), 459-483.

 “The Gains from Trade with Monopolistic Competition: Specification, Estimation, and Mis-specification” (2002) with Daniel Trefler, National Bureau of Economic Research working paper series 9169.