Township Village Enterprises (TVEs) have essentially contributed to China's economic development and institutional transformation over the last twenty years. One of the explanations for the mechanism of TVEs' growth is the co-operative culture theory which claims that Chinese - compared with...

This paper analyzes China's economic performance in the last 25 years and discusses its prospect for growth in the future. China has enjoyed high annual GDP growth rates of about ten percent in the last 25 years. Exports and investment were the two driving forces of the growth process. FDI plays...

We study the effects of policy reforms in the South on the decisions of intrafirm and arm's length production transfers by Northern firms. We show theoretically that relaxing ownership controls and improving contract enforcement can induce multinational companies to expand product varieties to...