Weak institutions ought to deter foreign direction investment (FDI), and mass media stories highlight China …'s institutional deficiencies, yet China is now one of the world's largest FDI destinations. This incongruity characterizes China …'s paradoxical growth. Cross-country regressions show that China's FDI inflow is not exceptionally large, given the quality of its …

analysis. The stylized facts differ qualitatively across different phases or economies. We argue that the impacts of China …

allocation. We develop a two-stage estimation approach and apply it to China's loan-level data that covers all sectors in the …

Using three unique micro datasets, we find that an unexpected and unprecedented loosening of China's LTV policy for non …

We estimate the quantity-based monetary policy system in China. We argue that China's rising shadow banking was …

We argue that China's rising shadow banking was inextricably linked to potential balance-sheet risks in the banking … banking (the banking system) in China …

research on China. Second, we document, through various empirical methods, the robust findings about striking patterns of trend … offers a constructive framework for studying China's modern macroeconomy …