This paper evaluates the global welfare impact of China's trade integration and technological change in a quantitative Ricardian-Heckscher-Ohlin model implemented on 75 countries. We simulate two alternative productivity growth scenarios: a "balanced" one in which China's productivity grows at...

The quality of institutions meaning the quality of contract enforcement, property rights, shareholder protection, and the like has received a great deal of attention in recent years. The purposes of this paper are twofold. First, it studies the consequences of trade when institutional...