This paper analyzes whether China's investment and savings rates are too high by considering the rate of return to investment and other factors. It also investigates the reasons for the rapid increase in the savings rate by using various sources of data and analytical tools. In particular, much...

Whether the People's Republic of China's (PRC) economic slowdown since the 2008 financial crisis is a cyclical downturn or a long-run trend has important policy implications. Based on provincial panel data, this article identifies the determinants of productivity and uses counter-factual...

This paper intends to properly account for the People’s Republic of China’s (PRC) two decades of market transition by examining its institutional foundations. The journey of transition is analyzed as a two-stage process. In the first stage (1978-93), the system was reformed to unleash the...