We study the implications of financial-market imperfections on labor and capital misallocation in China. Financial … improving financial friction in China can lead to 3.9% welfare gain in China. …

In this paper, we develop an allocation model of workers differentiated by their field of study to test whether … model explicitly takes into account the effects of supply and demand shifts on the allocation structure to disentangle …

contradiction is China where, despite a fourfold multiplication in two decades in real GDP per capita from a low initial level, life …

This paper examines differences in China's ethnic majority and minority patterns of labor force participation and …

We document dramatic rising wages in China for the period 1978-2007 based on multiple sources of aggregate statistics …-intensive and labor-intensive industries have widened. Comparisons of international data show that China's manufacturing wage has … already converged to that of Asian emerging markets, but China still enjoys enormous labor cost advantages over its …

Beginning in the late 1970s, China's economy delivered the largest growth spurt in recorded history. Striking … "China miracle" that requires neither economic nor historical analysis. This overlooks deep institutional constraints arising … decentralized innovation. Historic legacies that shape political structures and individual behavior will continue to influence China …

We document dramatic rising wages in China for the period 1978-2007 based on multiple sources of aggregate statistics …-intensive and labor-intensive industries have widened. Comparisons of international data show that China's manufacturing wage has … already converged to that of Asian emerging markets, but China still enjoys enormous labor cost advantages over its …