Decentralization can complement market liberalization by strengthening incentives of agents to exploit local information in response to market signals. In China, however, banks centralized lending authority following financial reforms in the mid-1990s. We offer a new theory of financial...

Chinese Household Finance: Research Background and Conceptual Delineation -- Health status, risk attitude and Household financial investment behavior -- Housing type, financial literacy and household financial investment behavior -- The effect of mental accounting and housing wealth on household...

Broadberry, Guan and Li (2018) made estimates for China's GDP per capita from 980 to 1840 in order to date the onset of the Great Divergence between China and western European economies. In response to Solar's (2021) criticisms, they (2021) made some revisions to the estimates but largely...

The developing Chinese economy has gone through significant market reforms in recent decades by taking a deliberate path of trail-and-error policymaking. We hand-collect a sample of 59 policy reversals related to market liberalization from 1999 to 2017. Using a general equilibrium term structure...

This article attempts to bring consumption into the study of redistributive politics. Analyzing data from 20 OECD countries over the period 1995-2007, I investigate whether factors that allowed lower and middle-income households to sustain their consumption had any impact on governments'...

China's remarkable poverty alleviation is quite uneven across regions in the last quarter of the century. It is important to explore why China has such huge disparity in poverty distribution in spite of overall dramatic economic growth and the vast improvement in per capita income. The aim of...

A theory is outlined for why an expansion of international trade may aggravate inequality in developing countries such as China.

This paper applies ARDL and Nonlinear ARDL models to long-term inflation targeting policy mechanisms in the United States and China to assess the impact of oil price dynamics and asymmetries on inflation expectations in the two countries, as well as the difference of this impact before and after...