Background: After revenue-sharing system reform, the proportion of tax refund in fiscal transfer payments continued to decline, and the proportion of categorical grant and condition grant is increased. The paper studies how transfer payment structure effect fiscal efficiency from the perspective...

This study examines how the relationships between local governments and local enterprises moderate the effect of targeted monetary policies through different action-propagating mechanisms. First, we investigate the impact of monetary policies on enterprise investment in areas with different...

We arranged for trained undercover men and women to pose as potential clients and visit all 65 local financial advisory firms in Hong Kong, China. At financial planning firms, but not at securities firms, women were more likely than men to receive advice to buy only individual or only local...