China are not necessarily the intended out- come of any government policies or an undervalued home currency, but instead a … timely financial reform). A tractable growth model of precautionary saving is provided to quantitatively explain China …

China is undergoing its long-awaited industrial revolution. There is no shortage of commentary and opinion on this … fundamental mechanisms behind China's rapid industrialization. This article reviews the New Stage Theory of economic development …, despite sharp differences in political and institutional conditions. One of the key conclusions exemplified by China …

China s foreign asset positions because capital cannot ow out of China under capital controls. A related but deeper puzzle … that this literature fails to address is China s high saving rate despite an astonishingly rapid income growth rate. This … paper argues that understanding China s massive foreign reserves must start with a basic trade model (e.g., Melitz, 2003) in …

With rapid industrial upgrading along the global value chain of manufactured goods, China has transformed, within one … the world. This article identifies the pattern of China's industrial upgrading and compares it with those of other … successfully industrialized economies and the failed ones. We find that (i) China (since 1978) followed essentially the same path …