Many countries simultaneously suffer from high inflation, low growth and poorly developed financial sectors. In this … inflation on welfare, growth and the size of the financial sector. A novel feature is that the innovation sector is … decentralized. Financial intermediaries arise endogenously to provide liquidity to this sector. Consistent with the data but in …

The 6th Plenum of the 16th Central Committee of the Communist Party of China (CPC) concluded on October 11, 2006, with … smashing into a barrier erected by an outsider. For hardware failure we discuss the possible weakening of China's fiscal … disorder caused by outmoded governance. And for power supply failure, we discuss the possible trade disputes from China …