At the macro-level, economic reform in the PRC since 1978 has led to the implementation of a multi-ownership system. The consequent transformation of Chinese formerly state-owned enterprises (SOEs) has been a major way of improving efficiency and increasing competition. However, the...

This paper examines the impact of declines in adult mortality on growth in an overlapping generations model. With public education and imperfect annuity markets, a decline in mortality affects growth through three channels. First, it raises the saving rate and thereby increases the rate of...