Motivated by growing concerns about the risks and instability of China's financial system,
this article reviews several commonly perceived financial risks and discusses their roots in …

This article is based on the presidential address delivered at the EEA Annual Congress
2016. It discusses China's institutional and economic transformation through the lens of the …

This paper documents a hallmark feature of China's state capitalism as the state controlling
the economy in a vertical economic structure: State-owned enterprises (SOEs) monopolize …

A recent wave of economic research has studied the transformation of China from a poor
country in the 1970s to a middle-income economy today. Based on this literature, we discuss …

This paper explores the effects of capital controls and policies regulating interest rates and
the exchange rate in a model of economic transition applied to China. It builds on Song …

Nach dem Fall des Eisernen Vorhangs 1989/1990 ist die Globalisierung mit großer
Hoffnung auf weltweite Wohlstandsmehrung und politische Modernisierung im Sinne …

We offer an assessment of China's macro-economy over 1978–2017, highlighting several
neglected channels underlining its great expansion. On the basis of rigorous data work, we …

There is a large body of evidence showing that for many countries the structure of wages
and pensions and the labor law legislation are different for public and private employees …

We propose a regime change model in which people are uncertain about both the quality of
a specific regime and governance in general. The poor perceive the current regime as bad …

This paper explores the middle income trap (MIT) concept from the perspective of
productivity growth. Through the examination of cross-country historical statistics as well as …