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Biographical Sketch 

At Georgetown, she was a teaching assistant for courses in international trade, intermediate microeconomics and principal economics. For the last three years at Georgetown, she was a research assistant of the Georgetown's PEW Economic Freedom Fellows Program , where she helped teach open-economy macroeconomics and personal computer applications in economics and finance. In addition, she was actively involved in the design and development of the home page of the Economics Department, as well as that of the PEW program. 

Ms. Liang worked as a summer intern at the World Bank in 1996. During her three-month assignment there, she developed a policy forum on Inflation and the Economies in Transition for the Economic Development Institute (EDI) of the World Bank. In addition, she designed the web page for the forum, which is now on the EDI Macroeconomic Policy Forum home page. 

In 1997, Ms. Liang was selected by the summer intern program at the International Monetary Fund . During her stay there, she analyzed and closely followed the day-to-day development in the Southeast Asian economies when the currency crisis erupted. She also wrote a research paper on the exchange rate policies in the Southeast Asian countries, focussing on the relationship between the choice of exchange rate regimes and macroeconomic performance, in particular inflation and output growth. 

Ms. Liang joined the International Monetary Fund in June 1998 as an economist, through the Fund's Economist Program. Her first year assignment was in the Research Department, Commodities and Special issues Division. Currently, she is a desk economist for Korea in the Asian & Pacific Department. 

She has also been actively involved with the Chinese professional groups in the United States. Currently, she serves as the President of the Chinese Professional Forum of Washington, DC. She is also a member of the Chinese Economist Society (CES) and the Association of Chinese Political Studies . In summer 1995, she participated in the CES research trip to Taiwan, after which her paper on the impacts of Taiwan foreign direct investment was published in China. From 1994 to 1996, she served as the vice president of the Chinese Students and Scholars Association of the Georgetown University. 

Ms. Liang has studied widely in the areas of international macroeconomics, international finance, and economic development. She co-authored "Uncertainty, Trade, and Capital Flows in Sub-Saharan Africa." with John T. Cuddington and Shihua Lu. Recently, she co-authored two paper with Prof. Cuddington: "Commodity Price Volatility Across Exchange Rate Regimes" and "Re-examining the Purchasing Power Parity Hypothesis over Two Centuries", both of which are now in the Georgetown Working Paper series . From April to May 1996, sponsored by the Ford Foundation, she taught an intensive course of International Macroeconomics and Finance to senior undergraduate students at Beijing University. 

Publications and Working Papers

• “Will the Emergence of the Euro Affect Commodity Prices?”, with John T. Cuddington, presented at a conference in Helsinki sponsored by the UNO/WIDER, forthcoming in a book entitled The EMU and Its Impact on Europe and the Developing Countries.

 
• “How Persistent Are Shocks to World Commodity Prices?” with Paul Cashin and John McDermott. IMF Working Paper 99/80, forthcoming in the IMF Staff Paper, 47(2), September, 2000.

 
•  “Do Commodity Price Shocks Last Too Long for Stabilization Schemes to Work?” with Paul Cashin and John McDermott,  Finance and Development, September, 1999.

 
•  “Does Hong Kong SAR and China Constitute the Domain of an Optimal Currency Area? An Application of the Generalized Purchasing Power Parity Hypothesis,” IMF Working Paper 99/79, 1999.

 
• Hong Liang (1998). "The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes: A Theoretical Model," The IMF Working Paper WP/98/163. 

 
• Hong Liang (1998). "Real Exchange Rate Volatility-Does the Nominal Exchange Rate Regime Matter?," The IMF Working Paper WP/98/147.

 
• John T. Cuddington and Hong Liang (1998). "Re-examining the Purchasing Power Parity Hypothesis over Two Centuries,"  Georgetown University Working Paper #98-01, and forthcoming in Journal of International Money and Finance, September, 2000.

 
• John T. Cuddington and Hong Liang (1997). "Commodity Price Volatility Across Exchange Rate Regimes," Georgetown Working Paper #97-17.

 
• Hong Liang (1997). "Exchange Rate Policy in the Rapidly Growing Southeast Asian Economies," unpublished working paper, IMF Institute.

 
• John T. Cuddington, Hong Liang and Shihua Lu (1996) "Uncertainty, Trade, and Capital Flows in Sub-Saharan Africa,"  GU working paper #95-01.  and in Journal of African Economies. 

 
• Hong Liang (1993) "An Essay on the Rationales of Import Substitution Industrialization Strategy". University of Denver master thesis. 

Papers on China Study:

• “Reform in State-owned Enterprises and the Transition toward Market Economy in China,” with Guoqiang Tian, 1998, in Andrew Nathan et, al. Eds. Dilemmas of Reform in Jiang Zemin’s China, Lynne Rienner Publishers.

 
• “The Urban Factors and Transition of China’s Rural Surplus Labor”, with Zhaohui Hong, presented at the 1999 Annual Conference of the Chinese Economists Society; forthcoming in  American Journal of Chinese Studies; 

 
•  " The Cultural Dimension of China's Corporate Governance Reform," with Zhaohui Hong, presented at the 1998 Annual Conference of the Chinese Economists Society; forthcoming in American Thoughts and Studies, Volume XXV, No. 75, September-December, 2000.

 
•  "Book Review: Stewart MacPherson and Joseph Y. S. Cheng, eds., Economic and Social Development in South China, (Edward Elgar, 1996)" in the Journal of Chinese Political Science, Vol.3, No.1, pp. 99-101, 1997.

 
• Hong Liang (1996) "Challenges and Opportunities: Taiwan's Capital Outflows to Mainland China and Its Implications to the Long Run Industrial Structures of the Economies" Chapter 10 in Xu Dianqing ed. Taiwan Experience and Development Strategy of Both Sides of the Strait China Economic Publishing House, Beijing, P.R.China. 

Hobbies and Other Interests 

• music and movies 
• reading, cooking, dancing and traveling 
• PCs and the World Wide Web in university education 

Miscellaneous Links: