The existing replication policies at top finance journals are far weaker than the policies at top economics journals. This paper explores both the costs and benefits of having a stronger replication policy in the context of my failed 2010 initiative to develop a unified policy across all top...

Over the last decade, the green shoots of a new economic order have appeared as decentralized technologies emerge to challenge traditional financial systems. Decentralized finance (DeFi) offers transparency, interoperability, security, low costs, and equal accessibility---all lacking in the...

We reflect on China's economic performance from the perspective of the experiences of a broad panel of countries. We formulate an econometric framework building on standard growth regressions that allows us to measure the impact of various factors on economic growth and growth variability. As...

Equity market liberalizations, if effective, lead to important changes in both the financial and real sectors as the economy becomes integrated into world capital markets. The study of market integration is complicated because there are many ways one can liberalize and many countries have taken...