Nancy Tao

Research Interests
Financial Economics
Financial Markets and Institutions
Industrial Organization
International Finance
Applied Econometrics
Education
PhD Claremont Graduate University, 2008
MSc Lancaster University, 2002
BA Shandong University, 2001
"From Shanghai to Sydney: Chinese Stock Market Influences on Australia" (with Richard
Burdekin), forthcoming in Finance Research Letters
doi:10.1016/j.frl.2020.101502
"Chinese Liquidity Effects on the Australian Macroeconomy" (with Richard Burdekin), Applied
Economics, February 2020, vol. 52, no. 18, pp. 1973–1985.
"The Importance of Debt for Household Risky Asset Allocation and Portfolio Structure" (with
Yuan Yuan), lead article in Financial Services Review, Winter 2019, vol. 27, no. 4, pp.
325–344.
"Bank Deserts in the United States and the Great Recession: Geography and Demographics"
(with Russ Kashian and Robert Drago), Journal of Economic Studies, 2018, vol. 45, no. 4,
pp. 691–709.
"An Empirical Examination of Factors Driving the Offshore Renminbi Market" (with Richard
Burdekin), China Economic Journal, September 2017, vol. 10, no. 3, pp. 287–304.
"A Computational Dynamic Model of Strategic Behavior in the U.S. Retail Banking Markets,"
Managerial and Decision Economics, March 2016, vol, 27, no. 3, pp. 182–194.
"Health Benefit Downward Rigidity: Employers' Responses to Rising Insurance Costs" (with
Xuguang Guo), Risk Management and Insurance Review, September 2015, vol. 18, no. 2, pp.
217–241.
"Off-balance Sheet Activities and Community Bank Performance" (with Russ Kashian), Journal
of Economic Studies, November 2014, vol. 41, no. 6, pp. 789–807.
"Bank Lending Margins in China and the Effects of the June 2012 Liberalization" (with Richard
Burdekin), Journal of International Commerce, Economics and Policy, May 2014, vol. 5, no. 2, 19 pages.
"China Real Estate Market Performance: Stock Market Linkages, Liquidity Pressures, and
Inflationary Effects" (with Richard Burdekin), The Chinese Economy, March–April 2014, vol. 47, no. 2, pp. 5–26.
"Management of Information in the Public Sector: The Analysis of Information Issues Regarding
Water Management" (2nd author, with David S. Kung, Harold Dyck, and Parviz
Partow-Navid), Leadership and Organizational Management Journal, March, 2012.
"Bank Lending, Inflation and China's Stock Market, 2004–2010" (with Richard Burdekin),
Economics Research International, vol. 2011, Article ID 652983, 7 pages.
doi:10.1155/2011/652983
"An ABC Guide to Provincial Lending Patterns in China: Progress and Prospects" (with Richard
Burdekin), The Chinese Economy, September–October 2011, vol. 44, no. 5, pp. 34–54.
"Corporate Governance – A Two-Way Analysis Model for the Development of Compliance.
Principles, U.S.A. vs. China." (with Harold Dyck, Linda C. Gordon, and David S. Kung),
Leadership and Organizational Management Journal, March, 2011.
"China's State-Owned Banks' Lending Practices, 1994–2005: Empirical Tests and Policy
Implications" (with Richard Burdekin), The Open Economics Journal, 2008, no. 1, pp. 14–24.
"The Evolution of Bank Lending Patters in China: A Post-1994 Province-by-Province Analysis" (with Richard Burdekin). In James R. Barth, John A. Tatom, and Glenn Yago (eds.), China's Emerging Financial Markets: Challenges and Opportunities. New York: Springer, 2009.
"London Calling: The Shanghai-London Stock Connect" (with Richard Burdekin), China-US Focus, May 30, 2018.
"Inflation Determination in Australia and the ASEAN group: Is There a Chinese Locomotive
Effect" (with Richard Burdekin). Emerging Markets Finance and Trade. Under review.
"The Golden Hedge: From Global Financial Crisis to Global Pandemic" (with Richard Burdekin).
Economic Modelling. Under review.
"Price Leadership and Asynchronous Movements of Multi-Market Listed Stocks" (with Krastina
Dzhambova and Yuan Yuan). International Review of Financial Analysis. Under review.
"The Role of Peer-to-Peer Lending in Improving Market Efficiency" (with Yuan Yuan). Work in
progress.
"Credit Union Efficiency and Commercial Lending" (with Russ Kashian). Work in progress.
Research Grant, College of Business and Economics, University of Wisconsin, Whitewater:
2019 $5,000; 2018 $5,000; 2015 $5,000; 2014 $5,000; 2013 $4,000; 2012 $4,000
Research Grant, UW-Whitewater Foundation: 2014 $6,500
Ultra Grant, College of Business and Economics, University of Wisconsin, Whitewater:
2012 $1,500
Travel Award for Conference Presentation, Claremont Graduate University, 2007 $400
Phi Beta Kappa International Scholarship, the Alpha Association, U.S.A.: 2006-2007 $2,000
John Randolph Haynes and Dora Haynes Social Science Dissertation Grant, Claremont
Graduate University: 2005-2006 $12,000
"Return Disparity and Information Friction: Evidence from Multi-Market Listed Chinese Stocks,"
presented at the Midwest Economic Research Group (MERG) Virtual Annual Conference,
August 2020
"Inflation Determination in Australia and the ASEAN Group: Is There a Chinese Locomotive
Effect," presented at the annual conference of the Chinese Economics Society Australia,
Melbourne, Victoria, Australia, July 2019
"Inflation Determination in Australia and the ASEAN group: Is There a Chinese Locomotive
Effect," presented at the 94th Annual Conference of the Western Economics Association, San
Francisco, CA, June 2019
"The Importance of Debt for Household Risky Asset Allocation and Portfolio Structure,"
presented at the 15th Annual International Meetings of the Western Economic Association,
Tokyo, Japan, March 2019
"Households' Allocation of Debts and Assets: Evidence from the Survey of Consumer Finances,"
presented at the Annual Meeting of the Midwest Economic Research Group (MERG), La
Crosse, WI, August 2018
"Financial Market Interdependence between China and Australia," presented at the 93th Annual
Conference of the Western Economics Association, Vancouver, BC, Canada, June 2018
"From Shanghai to Sydney: Chinese Stock Market Influences on Australia," presented at the 92th
Annual Conference of the Western Economics Association, San Diego, CA, June 2017
"Chinese Influences on the Australian Macro Economy," presented at the Sydney International
Business Research Conference, Sydney, Australia, March 2017
"Beyond the Burdekin: Chinese Influences on Australian Financial Markets," presented at the
91th Annual Conference of the Western Economics Association, Portland, OR, June 2016
"An Empirical Examination of Factors Driving the Offshore Renminbi Market," presented at the
90th Annual Conference of the Western Economics Association, Honolulu, HI, June 2015
"Banking the Unbanked: Bank Deserts in the United States" (with Russ Kashian and Claudia
Perez-Valdez), presented at the Southwestern Finance Association Annual Meetings, Houston,
TX, March 12, 2015
"Regional Water Environmental Issues in Western United States: Salinity in Water Treatment
Process," accepted by the International Conference on Environment Engineering and
Computer Application (ICEECA), Hong Kong, December 2014
"Lessons from the Offshore Renminbi Market," presented at the 89th Annual Conference of the
Western Economics Association, Denver, CO, June 2014
"Bank Lending Margins in China and the Effects of the June 2012 Liberalization," presented at
the 88th Annual Conference of the Western Economics Association, Seattle, WA, June 2013
"Health Benefit Downward Rigidity: Employers' Responses to Rising Insurance Costs,"
nominated for the Best Paper Award, presented at the Industrial Studies Association Annual
Conference, Kansas City, KS, May 2013
"China Real Estate Market Performance: Stock Market Linkages, Liquidity Pressures, and
Inflationary Effects," presented at the 87th Annual Conference of the Western Economics Association, San Francisco, CA, July 2012
"China Real Estate Market Performance: Stock Market Linkages, Liquidity Pressures, and
Inflationary Effects," presented at the Workshop on International Financial Policy Research
sponsored by the Claremont Institute for Economic Policy Studies, Claremont, CA, April
2012
"Bank Lending, Inflation and China's Stock Market, 2004-2010," presented at the 86th Annual
Conference of the Western Economics Association, San Diego, CA, July 2011
"An ABC Guide to Provincial Lending Patterns in China: Progress and Prospects," presented at
the fifth international conference of Asia-Pacific Economic Association (APEA), Santa Cruz,
CA, June 2009
"The Evolution of Bank Lending Patterns in China: A Post-1994 Province-By-Province
Analysis," presented at the Western Economics Association Annual Conference, Honolulu,
Hawaii, June 2008
"China's State-Owned Banks' Lending Practices, 1994–2005: Empirical Tests and Policy
Implications," presented at the third international conference of APEA, Hong Kong, July
2007