In the early 1990s, the People's Republic of China opened its urban water sector to nonstate capital to help meet increasing urban water demand under severe water resource constraints. By 2007, more than 30% of urban water utilities had attracted private sector participation (PSP). To understand...

In the early 1990s, the People's Republic of China opened its urban water sector to nonstate capital to help meet increasing urban water demand under severe water resource constraints. By 2007, more than 30% of urban water utilities had attracted private sector participation (PSP). To understand...

Learning is a key component of firm upgrades in emerging economies, and China is noexception. Studies have identified two critical mechanisms that facilitate learning: 1)connections with supportive local governments that enhance access to resources or publiclyfunded knowledge and 2) connections...

This paper analyzes the most recent NDCs as well as public political commitments of the US, China, the EU and Japan (56% of the world GHG emissions) to meet the goal of reaching the 2050 net zero emissions target necessary to limit global warming to the 1.5C. This analysis is made against the...

The role of government shareholding in corporate performance is central to an understanding of China?s newly privatized large firms. In this paper, we analyze shareholders as agents that can both harm and benefit companies. We examine the ownership structure of 826 listed corporations and find...

We review previous literature on productivity spillovers of foreign direct investment (FDI) in China and conduct our own analysis using a crosssection of firm data. We find that the evidence of FDI spillovers on the productivity of Chinese domestic firms is mixed, with many positive results...

I present a study of ownership of firms under government rent seeking. Using its control of regulated inputs, a government agency extracts rents from a manager who undertakes an investment. Such a government rent seeking activity leads to a typical hold-up problem. Government ownership is shown...

This paper documents recent structural changes in China's corporate landscape, based on company level data, providing a complementary perspective to that of official Chinese statistics. We classify China's largest companies by revenue since 2004 (based on Fortune Global 500 rankings), and...

This report provides an overview of the causes and consequences of the Italian State-owned Enterprises (SOE) reform process. Particularly, it analyzes the symbiotic link between share issue privatization (SIP), i.e. privatization in public equity markets, and financial market development, and...

We review previous literature on productivity spillovers of foreign direct investment (FDI) in China and conduct our own analysis using a crosssection of firm data. We find that the evidence of FDI spillovers on the productivity of Chinese domestic firms is mixed, with many positive results...