financial inclusion. These findings are then used to help inform policy recommendations in areas related to the digitization of …

important public service, there is widespread concern that their activities are negatively affected by corruption. However …, there is limited cross-country analysis on the costs of corruption for SOEs. We present new evidence on how corruption … perform as well as private firms in core sectors when corruption is low. Taking advantage of a novel database reforms, we also …

China's digital economy has expanded rapidly in recent years. While average digitalization of the economy remains lower …

incompleteness-on China's housing prices. The model implies that to eradicate the root causes of the rising housing price …

Using business registry data from China, we show that internal capital markets in business groups can propagate …

Financial markets are eager for any signal of monetary policy from the People's Bank of China (PBC). The importance of … effective monetary policy communication will only increase as China continues to liberalize its financial system and open its …

A cross-country comparative analysis shows that there is substantial room for further integration of China into global …, notably the foreign exchange market. Even though the increased integration of China into international capital markets would … increase its exposure to the global financial cycle, the costs in terms of monetary autonomy would not be large given China …

This paper examines possible segmentation of the internal capital market in China. We employ two standard tools from … similar (and somewhat surprising) picture: capital mobility within China is low! Furthermore, the degree of internal financial …