The rapid development of emerging markets is changing the landscape of the world economy and may have profound implications for international relations. China is often regarded as the most influential emerging market economy because, during the last three decades, it has become increasingly...

This paper tests the volatility spillovers between the Shanghai market and the main developed stock markets abroad, namely New York, Tokyo, London, and Frankfurt, as well as between the Shanghai market and the emerging stock markets, namely Hong Kong, and Korea. The tests cover the period of 11...

This paper attempts to examine the impact of government intervention on executive compensation contracts by employing the data of listed companies in the Chinese equity market. The results show that redundancy burden caused by government intervention significantly reduces the...

Drawing on the fast growing literature concerning Chinese development and transition, we sketch a general framework for understanding the ‘China Miracle’ that the ‘conventional wisdom’ and ‘Washington Consensus’ cannot fully explain. Reflecting upon the recent financial crisis and...