Aggressive legalism, a trade policy-making strategy targeted at actively utilizing WTO rules to defend trade interests, has greatly benefited major Eastern Asian countries in past years. This paper examines whether this strategy should be promoted around greater Asia in this era. First, this...

This paper provides the first evidence about pure exporters (i.e., firms exporting all of their output to the foreign market) -- a phenomenon overlooked and cannot be explained in the existing literature. It then offers a generalized model of Melitz (2003) for examining the existence and...

Family control of business is prevalent in developing economies, and one of the leading theories suggests that it is a response to weak contract enforcement in such economies. In this paper, we investigate the impacts of contract enforcement on the degree of family control of business using a...

Realized measures of volatility based on high frequency data contain valuable information about the unobserved conditional volatility. In this paper, we use the Realized GARCH model developed by Hansen, Huang and Shek (2012) to estimate and forecast price volatility for four agricultural...

We adopted the simple average Divisia index approach to explore the impacts of factors on the carbon dioxide (CO2) emissions from road freight transportation in China from 1985 to 2007. CO2 emissions were investigated using the following as influencing factors: the emission coefficient, vehicle...

Employing monthly data over the period 1999-2010, this paper examines the impact of China's exchange rate regime reform in July 2005 on three major asset markets: house, land, and stocks. We test whether the reform, which switches from a fixed exchange rate regime to a managed floating one, has...