We examine whether China has benefited more than other countries from financial sector development by performing a meta-analysis of the relevant literature covering a large number of countries at different stages of development. Although the results for China are inconclusive, they indicate the...

For more than three decades, China has managed to combine rapid economic growth with a heavily regulated financial sector. The discrepancy between economic and financial development has raised the question of whether China might be an exception to the so-called finance-growth nexus. This study...

Abstract: In this paper we examine whether China has benefited more from spending on R&D than other countries by conducting a meta-analysis of the relevant literature on a large number of countries at different stages of economic development. The results suggest that the growth-enhancing effect...

The paper examines the contentious issue of the extent of surplus labour that remains in China.  China was an extreme example of a surplus labour economy, but the rapid economic growth during the period of economic reform requires a reassessment of whether the second stage of the Lewis model...

Recent attempts to incorporate optimal fiscal policy into New Keynesian models subject to nominal inertia, have tended to assume that policy makers are benevolent and have access to a commitment technology.  A separate literature, on the New Political Economy, has focused on real economies...

The apparent success of independent central banks in conducting monetary policy has led many to argue that some form of policy delegation should also be applied to the macroeconomic aspects of fiscal policy.  A number of countries have recently established Fiscal Councils, although their role...