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Renping Li

Renping Li is a PhD Candidate in Finance at Washington University in St. Louis. His research interests include financial intermediation, consumer lending, corporate governance, and public finance. His research has explored topics such as competition and antitrust in the financial system and the economy in general, as well as financial technology and innovations in consumer lending. Prior to joining the PhD program, he studied at Peking University and The Ohio State University.
Fiscal Policy

Banking Consolidation Raises the Costs for Local Governments to Issue New Debt

Renping Li
New research from Renping Li finds that consolidation among investment banks has produced higher underwriting costs for local governments in issuing muni bonds. Importantly, Li says these costs are not offset by efficiency gains and that the result is a deterioration in local government finances.

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The publication of the Stigler Center at The University of Chicago Booth School of Business

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