We propose a quantitative theory of wealth creation and distribution during China's transitional growth from the early … wealth, whereas the majority working class, partly due to limited investment available from an underdeveloped financial … sector, uses housing as the main vehicle of wealth accumulation over the course of a long- time housing boom. Our …

We study the negative correlation between natural resource-abundance and long-term income focusing on the savings … the issue. In this model, savings adjust downwards to income from natural resources, and investment in capital contributes … income through savings and investment. Natural resources have two counteracting effects on income. In the short term …