China's high corporate savings rate is commonly claimed to be a key driver for the country's large current account …

We document the market response to an unexpected announcement of proposed sales of government-owned shares in China. In …

Based on a survey that we designed and that covers a stratified random sample of 12,400 firms in 120 cities in China … regions and sectors. By our calculation, if China succeeds in allocating its capital more efficiently, it could reduce its … capital stock by 8 percent without sacrificing its economic growth (and hence could raise its household consumption and …