This paper empirically studies how a fixed exchange rate regime (FERR) may promote economic growth by undermining the Balassa-Samuelson effect. When total factor productivity (TFP) is faster in the industrial sector than in the non-tradable sectors, an FERR can suppress the Balassa-Samuelson...

Between 1978 and 2006, GDP growth in China maintained an annual average rate of 9.7 per cent, meaning the Chinese economy increased by more than twelve times. This study of China's economy covers topics such as: the historical foundations of the 30 years of reform, law and development in China,...