Hedging involves tradeoffs in incomplete markets because the number of hedging instruments is limited. Even when an … extensive set of hedging instruments is available, the ease with which these instruments can be traded may be highly variable … analyzes the potential for replacing low-liquidity, delivery-period-matched hedging instruments with more liquid, delivery …

risk pricing, the availability of reliable trading systems, and the development of hedging instruments are fundamental for …

explaining China's and India's growth. Specific financial sector policies are shown to map well the size and changes in the … investment wedge. In the case of China, nonperforming loans, borrowing constraints, and uncertainty over changes in government … rebalancing growth in China and sustaining high investment rate in India, further financial sector reforms could turn out to be …

asset holdings. The model also suggests that capital account liberalization in China may trigger net portfolio outflows as …

R&D and innovation have become much more strategic than ever before for the growth of China as well as for its global … perspective explaining the legacy of the past in today's choices. In the second part, we illustrate China's catching up strategy …

China’s emergence as a major force in clean energy development has profound implications for the world. A lack of … understanding around the trajectory of China’s surge in clean energy investment, and the seriousness of its impact on global clean … energy development, demands a clear review of China’s clean energy innovation. To this purpose, the paper analyzes the …