The resources misallocation among firms is serious in China, our calculation shows it has
resulted in the total factor productivity (hereafter, TFP) loss of over 200% and has been …

This article reviews the literature on currency and country risk with a focus on their
macroeconomic origins and implications. A growing body of evidence shows that countries …

The total factor productivity (TFP) of the marine economy loss due to the resource mismatch
remains a major obstacle to the development of China's marine economy. This study …

Observed patterns of international investment are difficult to reconcile with frictionless capital
markets. In this paper, we provide a quantitative theory of international capital allocation: a …

Economic growth in the Sub-Saharan Africa region has been plagued by a series of shocks—
wars, political instability, natural disasters, epidemics, terms-of-trade deterioration, and …

Background: The precise allocation and efficient use of industrial land are necessary for the
development and optimization of urban production space; however, the mismatches …

Real, or inflation-adjusted, interest rates may well be the most important prices for any
nation's economy. They govern intertemporal purchasing decisions facing households …

This paper revisits the question of how allowing for imperfect substitution among workers
with different skill levels affects the results of development accounting. We consider a range …

Abstract In 2015, the World Bank claimed that rich-country private capital could:(i) close the
infrastructure services gap in poor countries,(ii) achieve the sustainable development goals …

Abstract After World War II, international capital flowed into slow-growing Latin America
rather than fast-growing Asia. This is surprising as, everything else equal, fast growth should …