Yang Liu

Yang Liu is an Associate Professor of Finance at the HKU Business School, The University of Hong Kong, where he joined in 2017. He holds a Ph.D. in Economics from the University of Pennsylvania and a B.A. in Economics from Fudan University.

Education

• Ph.D. in Economics, University of Pennsylvania
• B.A. in Economics, Fudan University

Research Interests

Dr. Liu's research spans asset pricing, macro-finance, and international finance, with a focus on volatility dynamics, government debt effects, exchange rate mechanisms, and ESG integration. His work employs rigorous theoretical and empirical frameworks to analyze risk transmission across global financial markets, emphasizing the role of intermediaries and policy shocks.

Recent Research Trends

His 2021-2025 publications reveal a concentrated exploration of volatility spillovers in international markets, government debt's impact on risk premia, and ESG-driven equilibrium shifts. Key contributions appear in top-tier journals including Journal of Financial Economics and Review of Financial Studies, demonstrating methodological innovation in linking macroeconomic variables to asset pricing anomalies through intermediary-based channels.

Scientific Awards

• 2018 Annual Conference in International Finance Best Paper Award
• Cubist Systematic Strategies PHD Candidate Award for Outstanding Research by Western Finance Association

Professional Engagement

Dr. Liu serves as MWM Programme Director at HKU Business School and maintains active collaboration with major financial institutions, having been a visiting scholar at the International Monetary Fund and World Bank, and a research associate at the Federal Reserve Bank of Philadelphia. His policy commentary on Hong Kong's fiscal stability and exchange rate mechanisms is frequently cited in financial media.