• Department:Economics
  • Phone:+86 (0)21 52301571
  • Title:Professor
  • Email:leizhang89@sjtu.edu.cn
  • SSRN author page: http://ssrn.com/author=452507

    Google Scholar author page: https://scholar.google.com/citations?user=MmLgXMEAAAAJ&hl=en

    Professor Lei Zhang's research focuses on economics of education, public economics. Her research has been published in various peer-reviewed journals including Economic Journal, Journal of Development Economics, Journal of Human Resources, Journal of Law and Economics, Journal of Policy Analysis and Management, Journal of Human Capital, and Economic Research Journal.



    July 2019 -  ,  Professor, Antai College of Economics and Management, Shanghai Jiao Tong University
    September 2013 - July 2019 , Associate Professor, Antai College of Economics and Management, Shanghai Jiao Tong University



    August 2017-August 2021: Visiting Fellow, Hoover Institution, Stanford University

    January 2016-February 2016: Visiting Professor, CNRS and University of Lyon II
    September 2010 - August 2013, Senior Fellow and Assistant Director, National Institute for Fiscal Studies, Tsinghua University
    July 2011-August 2013: Visiting Scholar, Department of Economics, UC-Berkeley
    September 2007- August 2008, National Fellow, Hoover Institution, Stanford University
    August 2004-May 2011: Assistant Professor of Economics, Clemson University


    June 2004, Ph.D. in Economics, Stanford University, Stanford, CA, U.S.A.
    July 1994, B.A. in Economics, Beijing University, Beijing, P.R. China


    Journal Referee Services:

    American Economic Journal: Applied Economics, American Economic Journal: Economic Policy, B.E. Journal of Economic Analysis and Policy, China Economic Review, Economic Analysis and Policy, Economics Bulletin, Economic Development and Cultural Change, Economic Inquiry, Economic Journal Economics of Education Review, Economics of Transition, Education Economics, Education Finance and Policy, Educational Evaluation and Policy Analysis, Economic Research Journal, Economic Science,Frontiers of Education in China, Journal of Development Economics, Journal of Economic Behavior and Organization, Journal of Human Resources, Journal of International Economics, Journal of Population Economics, National Science Foundation, Public Choice, Quarterly Journal of Economics, Review of Economics and Statistics, Southern Economic Journal, Studies in Educational Evaluation

  • Research Interests: Public Economics, Economics of Education

    Selected Working Papers:

    "Social Security Taxation and Compliance: The Chinese Evidence" (with Jie Mao and Jing Zhao), April 2013

    "The Incentive Effects of Top 10% Plan" (with Kalena Cortes), September 2010, under revision

    "Consumption Taxes, Income Taxes, and Saving: Evidence from OECD Countries" (with William Dougan), May 2009, under revision


    "Employer Learning and the Dynamics of Returns to Universities: Evidence from Chinese Elite Education durying University Expansion" (with Sylvie Démurger and Eric A. Hanushek), NBER Working Paper No. 25955, June 2019 


    "Effects of School Closure on Household Labor Supply: Evidence from Rural China" (with Gang Xie), October 2019 (URL: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3464744)

    "School quality, Innate Ability, and the Urban-Rural Disparity in Returns to Schooling in China" (with Xueying Li and Xi Zhu, in Chinese), November 2020  

    (URL: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3730423)

    Selected Publications:

    "The Effect of Investment Tax Incentives: Evidence from China's Value-Added Tax Reform" (with Yuyu Chen and Zongyan He), International Tax and Public Finance, August 2018, 25(4): 913-945.

    "Human Capital, Technology Adoption, and Firm Performance: Impacts of China's Higher Education Expansion in the Late 1990s" (with Yi Che), Economic Journal, September 2018, 128(614): 2282-2320. 

    Human Capital-Firm TFP_201703.pdf

    "General Education, Vocational Education, and Labor Market Outcomes over the Life-Cycle" (with Eric Hanushek, Guido Schwerdt, and Ludger Woessmann), Journal of Human Resources, January 2017, 52(1): 48-87.

    hswz vocational final_f.pdf

    "Public Education Spending and Private Substitution in Urban China" (with Cheng Yuan), Journal of Development Economics, July 2015, 115: 124-139.


    "Effects of College Educational Debt on Graduate School Attendance and Early Career and Life Choices" Education Economics, 2013, 21(2), 154-175. 


    "Classroom Peer Effects and Academic Achievement: Evidence from a Chinese Middle School" (with Katherine Carman), China Economic Review, June 2012, 23(2), 223-237. 


    "Intergenerational Effects of Welfare Reform on Educational Attainment" (with Amalia Miller), Journal of Law and Economics, May 2012, 55(2), 437-476. 


    "A Value-Added Estimate of Higher Education Quality of U.S. States" Education Economics, December 2009, 17(4), 469-489. 


    "The Effects of Welfare Reform on the Academic Performance of Children in Low-Income Households" (with Amalia R. Miller), Journal of Policy Analysis and Management, Fall 2009, 28(4), 577-599. 


    "Quality-Consistent Estimates of International Schooling and Skill Gradients" (with Eric A. Hanushek),Journal of Human Capital, Summer 2009, 3(2), 107-143. 


    "Political Economy of Income Distribution Dynamics," Journal of Development Economics, August 2008, 87(1), 119-139. 


    “Private Tutoring Spending and Children’s Academic Performance: Evidence from CFPS 2010 Data” (with Xue Zhang), Economic Science (in Chinese), 2017(4).

    "Social Security Contribution Rate, Participation, and Compensation Structure: An Empirical Study on Contribution Evasion of Employees and Firms" (with Jie Mao and Jing Zhao), China Economic Quarterly (in Chinese), October 2015, 15(1): 341-372. 


    "An Empirical Analysis of Urban Household Education Expenditure in China" (with Cheng Yuan and Ying Zeng), Economics Perspectives  (in Chinese), March 2013, 29-36.

    "Parental Income and Return to College Education in Urban China" (with Cheng Yuan), Economic Research Journal  (in Chinese) (Jingji Yanjiu), May 2009, 44(5), 42-52. 


    "Money Supply and the Hyperinflation of the Early 1990s in China" Economics Perspectives  (in Chinese), 1996:7.

  • Principles of Economics (undergraduate)  

    Intermediate macroeconomics (undergraduate)

    Public Economics (undergraduate)

    Public Economics (master's and ph.d students)

    Applied Macroeconomics (MBA students)