This article explores the dynamics of market selection by investigating of the relationships linking productivity, profitability, investment and growth, based on China's manufacturing firm-level dataset over the period 1998 - 2007. First, we find that productivity variations, rather than...

Measures of society's stock of fixed assets are necessary for describing production technology, evaluating capital-output ratios and analysing multifactor productivity. While recognizing the inherent difficulty of compiling capital stock estimates for an economy in which prices have long...

By incorporating energy-saving through both technology-embodied investment and embodied investment-specific technical change, as well as disembodied factor-neutral technical change into a dynamic stochastic general equilibrium (DSGE) model with heterogeneous investment, this paper deepens our...

The question of how to promote structural transformation is central in fostering sustainable growth and poverty reduction in low-income countries in Africa. Following China's domestic economic transformation and its growing outward investments in the developing world, we seek to understand how...

This paper studies how minimum wage policies affect capital investment using the industrial census of manufacturing firms in China, where minimum wage policies vary across counties. Exploiting minimum wage policy discontinuities at county borders, we find that minimum wages increase capital...

This article explores the dynamics of market selection by investigating of the relationships linking productivity, profitability, investment and growth, based on China's manufacturing firm-level dataset over the period 1998-2007. First, we find that productivity variations, rather than relative...