What are the incentives faced by local officials in China? Without democratic institutions, there is no mechanism for … successes and the problems arising from local government activity in China …

China's four-trillion-yuan stimulus package fueled by bank loans in 2009 has led to the rapid growth of shadow banking … activities in China after 2012. The local governments in China financed the stimulus plan mainly through bank loans in 2009, and …

This paper aims to show that culture is an important determinant of the effectiveness of formal democratic institutions … elections. These results support the view that social capital complements democratic institutions such as elections …

cooperation. We show that a judicious allocation of asset ownership can help by reducing the incentives to engage in hold up. In …

empirical analysis links data on institutions for land titling and transfer with multiple urban outcomes, in 190 countries. The … rights institutions. Indeed, we document world-wide improvements in the quality of institutions facilitating property …

Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain … the role of prices under socialism and capitalism and ignored the enormous importance of ownership as the source of … addressed through government contacting and regulation without resort to government ownership. The case for private provision …

over assets and who bears the costs and benefits of those decisions. They assign ownership, wealth, political influence …