Markus Leibrecht, PhD (Economics and Social Sciences)
Professor and Course Coordinator of BAE Elite Cohort Programme
Contact Details
Tel:
Email: markusleibrecht@cityu.edu.mo
WOS Researcher ID: KRO-6847-2024
Scopus ID: 24484693100
ORCID: 0000-0001-5499-4280
Academic Qualifications
Habilitation in Economics, VIENNA UNIVERSITY OF ECONOMICS AND BUSINESS
PhD in Economics and Social Science (Distinction), VIENNA UNIVERSITY OF ECONOMICS AND BUSINESS
Short Introduction
I hold the Professor of Applied Economics position at the Faculty of Finance, City University of Macau. Before joining CityU Macau, I taught at several institutions, including Shanghai University, Shanghai Ocean University, University of Reading (Malaysia campus), Singapore University of Social Sciences, University of Lueneburg (Germany), and the Vienna University of Economics and Business. From 2020 to 2023, I served as an Oriental Scholar (Distinguished Professor) at Shanghai Universities and was part of the 1000 talents pool in Shanghai. In addition to my academic roles, I gained practical experience outside academia, working with institutions such as the Austrian National Bank and the Austrian Institute of Economic Research. Over my 25-year teaching career, I have delivered courses on economics and international business to undergraduate, postgraduate, and PhD students. My research is not just academic, but it has real-world implications. I focus on International Investment Agreements and Investor-State Dispute Settlement, analysing their profound impact on Multinational Enterprises’ decisions and government economic policies. This research draws insights from economics, international relations, and international economic law. I have been fortunate to receive over US-$900,000 in research grants and awards, a testament to the influence and relevance of my work. My research has been published in esteemed international journals, including Aquaculture, Economica, Economic Inquiry, European Journal of Political Economy, and many more. Additionally, I am a Research Associate at the Austrian Institute of Economic Research, founded by Nobel Memorial Price laureate F.A. von Hayek and L. von Mises. I am also an Associate Fellow of Higher Education in Great Britain.
Teaching Areas
Microeconomics, Econometrics, Development Economics, International Finance
Research Areas
Foreign Direct Investment, Investor-State-Dispute Settlement; Policy Evaluation; Fisheries Economics
Work Experience
08/2024 -: Professor of Factuly of Finance, City University of Macau
04/2014 -: Research Associate, Austrian Institute of Economic Research (WIFO)
09/2019 - 06/2024: Professor (part-time), Shanghai University, MBA Center (Shanghai University, MBA Centre)
09/2020 - 08/2023: Professor, Shanghai Ocean University (SHOU)
09/2016 - 08/2018: Senior Associate Professor, University of Reading UK / Malaysia (UoRM)
04/2015 - 07/2016: Senior Associate Professor, Singapore University of Social Sciences (SUSS)
04/2014 - 03/2015: Project-based (service contract) employment relationship with WIFO
04/2013 - 03/2014: Senior Economist, WIFO
04/2012 - 03/2013: Professor, Leuphana University, Germany
01/2011 - 03/2012: Associate Professor, WU
01/2009 - 12/2010: Project Lead, Special Research Project (International Tax Coordination), Austrian Science Fund
10/2005 - 12/2008: Assistant Professor, WU
10/2004 - 09/2005: Economist, Economic Analysis Division, Austrian Central Bank
08/1999 - 09/2004: Assistant Professor (prae-PhD) with teaching responsibilities of an Assistant Professor, WU
Selected Refereed Publications With Significant Contributions (first or/and corresponding author) (full list at: https://scholar.google.com/citations?user=VkI965cAAAAJ&hl=en)
- Sustainability of Croakers in the waters around Lagos, Nigeria, Marine Policy (ABDC A; ABS 2, JCR Q1), 2024, 106297, with Gloria Chinwendu Gloria and (minor contributions) others (role: corresponding author)
- Do the new Brazilian Agreements on Cooperation and Facilitation of Investment promote Outward Foreign Direct Investment? Journal of World Investment and Trade (ABDC A; JCR Q1), 2024, forthcoming, with Bellak Christian (role: co-first author)
- Capital Market Integration and Firm Innovation: Theory and Evidence from China, Applied Economics (ABDC A; ABS 2; JCR Q2), 2024, forthcoming, with Yan Zhoufu and Long Wen (role: corresponding author)
- Market integration and market leadership: Evidence for Cyprinoid Markets in China, Aquaculture (JCR Q1), 578(15): 740010, 2024, with Yang Zhenhao, Yang Chenxing and (minor contribution) Zhang Junbo (role: corresponding author)
- The (Political) Economics of Bilateral Investment Treaties – The Unique Trajectory of Brazil, Economies (ABDC C; ABS 1, JCR Q2), 12(6): 130, 2024, with Bellak Christian (role: co-first author)
- Investment Policy Reform as a Driver of Foreign Direct Investment: Evidence from China, The Economics of Transition and Institutional Change (formerly: The Economics of Transition) (ABDC A; ABS 2; JCR Q3), 31(4): 1035-1053, 2023, with Bellak Christian (role: co-first author)
- Automation and Unemployment: Does Collective Bargaining Moderate their Association? Structural Change and Economic Dynamics (ABDC B; ABS 2, JCR Q1), 67: 264-276, 2023, with Zhoufu Yan and Scharler Johann (role: co-first author)
- Do foreign investors affect the volatility of local currency bond prices? Empirical evidence from China, Heliyon (JCR Q1), 9(6): E16658, 2023, with Gao Shenting and (minor contribution) Wang Qian (role: corresponding author)
- The Impact of a “National Green Export Review” on Competitiveness: Empirical Evidence for Ecuador’s Fish Exports, Agriculture (JCR Q1), 13: 62, 2023, with Emam Md Ali and (minor contribution) Chen Tinggui (role: corresponding author)
- Does an increased synergy in an industry’s subsystems impact on industrial development? The case of the Fisheries Industry of China, Marine Policy (ABDC A; ABS 2, JCR Q1), 135(1), article 104837, 2022, with Liu Chenxuan and Jian Qijun (role: co-first author)
- Trust Dynamics after Financial Distress: Evidence from Euro Member Countries, Applied Economics Letters (ABDC B; ABS 1; JCR Q3), 29(2), 91-96, 2022, with Scharler Johann (role: co-first author)
- Profitability of container shipping via the Arctic Northeast Passage: A simulation and regression analysis, Marine Policy (ABDC A; ABS 2, JCR Q1), 133(11), 2021, with Jiang Miaomiao and Hu Maixiu (role: co-first author)
- Do Economic Crises Trigger Treaty-Based Investor-State Arbitration Disputes? Journal of International Economic Law (ABDC A; JCR Q1), 24(1): 1-28, 2021, with Bellak Christian (role: co-first author)
- Investor-State Disputes in Balkan, post-Soviet and Near and Middle Eastern countries, Journal of Balkan and Near Eastern Studies (JCR Q2), 23(1): 101-121, 2021, with Bellak Christian (role: co-first author)
- Political Constraints, Financial Market Pressure, and Fiscal Consolidations, Public Choice (ABDC A; ABS 3, JCR Q2), 188(3): 361-384, 2021, with Scharler Johann (role: co-first author)
- Fish Exports and the Growth of the Agricultural Sector: The Case of South and South-East Asian Countries, Sustainability (JCR Q3), 13: 11177, 2021, with Emam, Md Ali and (minor contribution) Chen Tinggui (role: corresponding author)
- Inward Worker Remittances and Economic Growth: The case of Bangladesh, Applied Economics Journal (JCR Q4), 28(2): 1-18, 2021, with Emam Md Ali and (minor contribution) Chen Tinggui (role: corresponding author)
- Is confidence in companies rooted in social trust, regulatory quality, or both? Journal of Institutional Economics (ABDC A; ABS 3, JCR Q2), 16(3): 271-286, 2020, with Pitlik Hans (role: co-first author)
- Granger-causes of the Ringgit-US Dollar exchange rate after 2005, Journal of Financial Economic Policy (ABDC B; ABS 1; JCR Q3), 12(1): 77-96, 2020, with Kan Yoke Yue (role: co-first author)
- Determinants of Second Pillar Pension Reforms: Economic Crisis and Globalization, Journal of Pension Economics and Finance (ABDC B; ABS 2; JCR Q3), 19(3): 392-408, 2020, with Fong Joelle (role: co-first author)
- The generalized use of investment incentives. In: Rethinking Investment Incentives: Trends and Policy Options, Tavares-Lehmann A., Toledano P., Johnson L., and Sachs L. (eds.), pp. 63-93. New York: Columbia University Press, 2016, with Bellak Christian (role: co-first author)
- Social trust, institutional and political constraints on the executive and deregulation of markets, European Journal of Political Economy (ABDC A; ABS 2, JCR Q1), 39(C): 249-268, 2015, with Pitlik Hans (role: co-first author)
- Fiscal Policy and Business Cycle Volatility: How important are Credit Constraints? Economica (ABDC A; ABS 3, JCR Q2), 82(326): 201-221, 2015, with Scharler Johann (role: co-first author)
- Determinants of seasonal labor migration from Armenia to Russia: An empirical investigation, Journal of Development Studies (ABDC A; ABS 3, JCR Q2), 50(3): 349-367, 2014, with Bellak Christian and Liebensteiner Mario (role: co-first author)
- Modelling FDI based on a spatially augmented gravity model: Evidence for Central and Eastern European Countries. Journal of International Trade and Economic Development (ABDC B; ABS 1, JCR Q2), 23(8): 1206-1237, 2014, with Riedl Aleksandra (role: co-first author)
- Political budget cycles - evidence from disaggregated public expenditure data, Economics Letters (ABDC A; ABS 3; JCR Q2), 121(1): 128-132, 2013, with Enkelmann Sören (role: co-first author)
- When Are Fiscal Adjustments Successful? The Role of Social Capital, Applied Economics Letters (ABDC B; ABS 1; JCR Q3), 20(18): 1640-1643, 2013, with Scharler Johann (role: co-first author)
- Tax competition as a cause of falling corporate income taxes. Journal of Economic Surveys (ABDC A; ABS 2, JCR Q1), 26(4): 616-648, 2012, with (minor contribution) Hochgatterer Claudia (role: first author)
- Financial Markets, Banks, and International Consumption Risk Sharing. German Economic Review (ABDC B; ABS 2; JCR Q2), 13(3): 331-351, 2012, with Scharler Johann (role: co-first author)
- How does globalization affect the tax burden on labour income, capital income and consumption in different welfare regimes? The case of Western and Eastern EU Member States. Economic Inquiry (ABDC A; ABS 3, JCR Q2), 50(4): 880-904, 2011, with Bösch Valerie and Onaran Ozlem (role: co-first author)
- Borrowing Constraints and International Risk Sharing: Evidence from Asymmetric Error-Correction. Applied Economics (ABDC A; ABS 2; JCR Q2), 43(17): 2177-2184, 2011, with Scharler Johann (role: co-first author)
- Does the impact of employment protection legislation on foreign direct investment differ by the low-skill intensity of sectors? An empirical investigation. The World Economy (ABDC A; ABS 2, JCR Q1), 34(10): 1726-1744, 2011, with Bellak Christian (role: co-first author)
- Globalization and the Structure of Public Spending in the Western and Eastern EU Member States. Public Choice (ABDC A; ABS 3, JCR Q2), 148(3): 569-594, 2010, with Klien Michael and Onaran Ozlem (role: co-first author)
- The role of public policy in closing Foreign Direct Investment gaps: An empirical analysis. Empirica (ABDC C; ABS 1; JCR Q2), 37(1): 19-46, 2010, with Bellak Christian and Stehrer Robert (role: co-first author)
- Does lowering dividend tax rates increase dividends repatriated? Evidence of intra-firm dividend repatriation policies by German Multinational Enterprises. FinanzArchiv / Public Finance Analysis (ABDC B; ABS 1; JCR Q4), 66(4): 350-383, 2010, with Bellak Christian (role: co-first author)
- Attracting Foreign Direct Investment: The Public Policy Scope for South-East European Countries. Eastern Journal of European Studies (JCR Q2), 1(2): 37-53, 2010, with Bellak Christian and Liebensteiner Mario (role: co-first author)
- Book Chapter: Double Tax Avoidance and Tax Competition for Mobile Capital. In: Tax Coordination and Harmonization - Virtues and Pitfalls from an Interdisciplinary Perspective, Zagler M. (ed.), pp. 61-97. London and New York: Routledge, 2010, with Rixen Thomas (role: co-first author)
- Infrastructure Endowment and Corporate Income Taxes as Determinants of Foreign Direct Investment in Central and Eastern European Countries. The World Economy (ABDC A; ABS 2, JCR Q1), 32(2): 267-290, 2009, with Bellak Christian and (minor contribution) Damijan Joze (role: co-first author)
- How Important is Employment Protection Legislation for Foreign Direct Investment Flows in Central and Eastern European Countries? The Economics of Transition (ABDC A; ABS 2; JCR Q3), 17(2): 175-295, 2009, with Scharler Johann (role: co-first author)
- Do low corporate income tax rates attract FDI? - Evidence from Central- and East European Countries. Applied Economics (ABDC A; ABS 2; JCR Q2), 41(21): 2691-2703, 2009, with Bellak Christian (role: co-first author)
- Book Chapter: Corporate Income Taxation in Central and Eastern Europe Countries and Tax Competition for Foreign Direct Investment. In: Foreign Direct Investment, Location and Competitiveness, Progress in International Business Research Volume 2, Dunning J.H. and Gugler P. (eds.), pp. 133-156. Amsterdam: Elsevier, 2009, with Bellak Christian (role: co-first author)
- Reconsidering Risk Sharing among OECD Countries: Some Evidence based on Panel Cointegration. Open Economies Review (ABDC B; ABS 2; JCR Q2), 19(4): 493-505, 2008, with Scharler Johann (role: co-first author)
- Labour costs and FDI-flows into Central and Eastern European Countries: a survey of the literature and empirical evidence. Structural Change and Economic Dynamics (ABDC B; ABS 2, JCR Q1), 19(1): 17-37, 2008, with Bellak Christian and Riedl Aleksandra (role: co-first author)
- On the appropriate measure of the tax burden on Foreign Direct Investment to the CEECs. Applied Economics Letters (ABDC B; ABS 1; JCR Q3), 14(8): 603-606, 2007, with Bellak Christian (role: co-first author)
- Book Chapter: Corporate Income Tax Competition and the Scope for National Tax Policy in the Enlarged Europe. In: National Tax Policy - To be or Not to be?, Andersson K., Eberhartinger E., and Oxelheim L. (eds.), 2007, pp. 11-43. Berlin, New York: Springer, with Bellak Christian (role: co-first author)
- Book Chapter: How to make FDI in Central and Eastern European countries sustainable? In: Foreign Direct Investment in Europe, Liebscher K., Christl J., and Ritzberger-Grünwald D. (eds.), pp. 226-236. Cheltenham: Edward Elgar, 2007, with Bellak Christian (role: co-first author)
- Accuracy and unbiasedness of tax revenue forecasting in Austria (in German). Austrian Journal of Statistics (JCR Q4), 33(3): 315-326, 2004 (role: first author)
- Book: Tax Revenue Forecasting in Austria (in German). Springer, 2004 (role: first author)
Research Grants
- Shanghai 1000 Talents Plan grant, Principal Investigator (2021)
- Shanghai Universities Oriental Scholar grant, Principal Investigator (2020-2023)
- Singapore University of Social Sciences Centre for Applied Research grant on “The political economy of market- based structural economic reforms in East Asia”, Principal Investigator (2016)
- Austrian Central Bank Anniversary Fund Project on “Fiscal costs of financial crises”, Principal Investigator (2015)
- Austrian Chamber of Commerce grant on “Social partnership and Macroeconomic Performance”, Co-Principal Investigator (2014)
- Research Centre International Economics Project on “Determinants of inward Foreign Direct Investment”, Co-Investigator (2009)
- Austrian Central Bank Anniversary Fund Project on “Financial markets, banks and international consumption risk sharing”, Principal Investigator (2008)
- Austrian Science Fund Project F-2013 on “Taxes and Infrastructure as Determinants of Foreign Direct Investment”, Principal Investigator (2007-2010)
- Austrian Science Fund Project F-2012 on “Causes and Consequences of FDI in CEECs”, Co-Investigator
- Festo (LLC) grant for project “Capital flows to new EU Member States: Determinants and Effects”, Principal Investigator (2008-2010)
- Austrian Science Fund Project on “Taxes and the location decisions of Multinational Enterprises in Central and Eastern European Countries”, Co-Investigator (2005-2007)
- Austrian Association of Cities and Towns Project on “Local Public Finances in Austria”, Principal Investigator (2004)
- Austrian Central Bank Anniversary Fund Project on “Tax Structures in Central and Eastern European Countries”, Co-Principal Investigator (2002)
Recent Teaching Awards
- Shanghai Ocean University Talent Cultivation Award (2022)
- Outstanding Teacher of the Year 2020 at SHUMBA (2021)
- Associate Fellow of Higher Education (UK, 2017)
Recent Research Awards
- Humanities and Social Science Award of Shanghai Ocean University, 2022
- Shanghai Universities Oriental Scholar, 2020 – 2023
- Shanghai Thousand Talents Plan program, 2021