China and India are the two major gainers from the removal of quotas on textiles and clothing with phasing out of Multifibre Arrangement (MFA) with effect from Jan. 1, 2005. However, to reap the maximum benefits of the new quota free regime and to sustain the growth in this sector it is...

The capture and permanent storage of CO2 emissions from coal combustion is now widely viewed as imperative for stabilization of the global climate. Coal is the world’s fastest growing fossil fuel. This trend presents a forceful case for the development and wide dissemination of technologies...

We employ the “social conditions of innovative enterprise” framework to analyze the key determinants of China’s development path from the economic reforms of 1978 to the present. First, we focus on how government investments in human capabilities and physical infrastructure provided...

Starting from almost null in the late 1990s, China's mobile phone handset industry has grown to account for more than 40 percent of the current world production. While export growth has been overwhelmingly led by multi-national corporations (MNCs), increasingly fierce competition in the domestic...

The effects of travel bans, and the disruption of production and shipping due to COVID-19 quickly rippled through global production and supply chains, even when the virus SARS-CoV-2 was still contained within East Asia. The global spread of the virus resulted in export restrictions on goods...

Does entry into the export market enhance firms' productivity? In this paper, we estimate the instantaneous and long-run effects of exporting on the productivity of Chinese manufacturing firms during 2001 and 2007. We argue that pre-export R&D plays a crucial role in generating post-entry...

This paper provides a comprehensive overview of China's processing trade using highly disaggregated 2010 transaction-level data. By highlighting the key role of processing trade in China's foreign trade, we argue that various free-trade zones have served as important instruments in boosting...

We examine the privatization process of the Industrial and Commercial Bank of China (ICBC), the largest bank in the world by market capitalization, and its dual IPOs in the Hong Kong and Shanghai Stock exchanges in 2006. The Chinese government retains majority equity ownership of ICBC while...

This paper presents theory and evidence from highly disaggregated Chinese data that tighter credit constrains force firms to produce lower quality. The paper modifies Melitz's (2003) model of trade with heterogeneous firms by introducing quality choice and credit constraints. The quality sorting...

This paper investigates the impact of trade liberalization on firm productivity by using both Chinese manufacturing firm-level data and highly disaggregated Chinese import data from 1998-2002. We construct a measure of firms' total factor productivity (TFP) by adopting an augmented Olley-Pakes...