The Effect of Income on Vehicle Demand: Evidence from Chinas New Vehicle MarketJOSHUA LINN CHANG SHEN*June 2021AbstractGrowth of private vehicle ownership in low-income and emerging countries is a dominant factor in forecasts of global oil demand and greenhouse gas emissions. Countries such as China are expected to experience rapid income growth over the next few decades, but little causal evidence exists on its effect on car ownership in these countries. Using city-le
