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The Euro and International Capital Markets
Detken, Carsten; Hartmann, Philipp - C.E.P.R. Discussion Papers - 2000
This paper provides a broad empirical examination of the major currencies' roles in international capital markets, with a special emphasis on the first year of the Euro. A contribution is made as to how to measure these roles, both for international financing as well as for international...
Persistent link: https://www.econbiz.de/10005123910
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Which Investors Fear Expropriation? Evidence from Investors' Stock Picking
Giannetti, Mariassunta; Simonov, Andrei - C.E.P.R. Discussion Papers - 2003
Using a data-set that provides unprecedented details on individual investors’ stockholdings, we analyse whether investors take into account corporate governance when they select stocks. After controlling for the supply effect via free float and other firm characteristics, we find that all...
Persistent link: https://www.econbiz.de/10005114455
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Cultural and Institutional Bifurcation: China and Europe Compared
Greif, Avner; Tabellini, Guido - C.E.P.R. Discussion Papers - 2010
How to sustain cooperation is a key challenge for any society. Different social organizations have evolved in the course of history to cope with this challenge by relying on different combinations of external (formal and informal) enforcement institutions and intrinsic motivation. Some societies...
Persistent link: https://www.econbiz.de/10008468568
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Family Ties and Organizational Design: Evidence from Chinese Private Firms
Cai, Hongbin; Li, Hongbin; Park, Albert; Zhou, Li-An - C.E.P.R. Discussion Papers - 2010
Analyzing data from a unique survey of managers of Chinese private firms, we investigate how family ties with firm heads affect managerial compensation and job assignment. We find that family managers earn higher salaries and receive more bonuses, hold higher positions, and are given more...
Persistent link: https://www.econbiz.de/10008468597
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Community-based Development and Poverty Alleviation: An Evaluation of China’s Poor Village Investment Program
Park, Albert; Wang, Sangui - C.E.P.R. Discussion Papers - 2010
We conduct the first systematic evaluation of the world’s largest community-based development program--China’s flagship …
Persistent link: https://www.econbiz.de/10008468658
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The Institutional Foundations of China’s Reforms and Development
Xu, Cheng-Gang - C.E.P.R. Discussion Papers - 2010
China’s economic reforms have resulted in spectacular growth and poverty reduction. However, China’s institutions look … ill-suited to achieve such a result, and they indeed suffer from serious shortcomings. To solve "China puzzle" this paper … analyses China’s institution - a regionally decentralized authoritarian system. The central government has control over …
Persistent link: https://www.econbiz.de/10008468688
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A Macro-Theoretic Model of the Chinese Economy
Dixon, Huw David - C.E.P.R. Discussion Papers - 1996
A stylized model of the Chinese economy is developed with three production sectors: agriculture, non-traded industrial goods, and industrial exports. The state purchases food from farmers by dual-track pricing; urban food sales are subsidized through ration coupons. Marginal prices clear markets...
Persistent link: https://www.econbiz.de/10005123495
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Can You Teach Old Dragons New Tricks? FDI and Innovation Activity in Chinese State-Owned Enterprises
Girma, Sourafel; Gong, Yundan; Görg, Holger - C.E.P.R. Discussion Papers - 2006
We investigate whether inward FDI, either at the firm or industry level, has any impact on product innovation by Chinese State owned enterprises (SOEs). We use a comprehensive firm level panel data set of Chinese SOEs covering the period 1999 to 2003. Our results show that foreign capital...
Persistent link: https://www.econbiz.de/10005123532
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Growing like China
Song, Zheng Michael; Storesletten, Kjetil; Zilibotti, … - C.E.P.R. Discussion Papers - 2009
This paper constructs a growth model that is consistent with salient features of the Chinese growth experience since 1992: high output growth, sustained returns on capital investments, extensive reallocation within the manufacturing sector, falling labor share and accumulation of a large foreign...
Persistent link: https://www.econbiz.de/10005123794
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Globalization and Inequality: Evidence from within China
Wei, Shang-Jin; Wu, Yi - C.E.P.R. Discussion Papers - 2001
, the urban-rural income inequality. This pattern in the data suggests that inferences based solely on China's national …
Persistent link: https://www.econbiz.de/10005124080