Chapter 1: Demystifying China’s Stock Market: The Hidden Logic behind the Puzzles -- Chapter 2: What Does History Tell Us? The Roots of China’s Modern Stock Market -- Chapter 3: A Government-Dominated Financial System -- Chapter 4: A Chinese style speculative market -- Chapter 5: The...

This paper examines the effect of financial deregulation on consumption expenditure in France during the period 1970-1993. A nonlinear model for consumption which allows for liquidity constraints through a time-varying parameter dependent on a proxy for financial deregulation is estimated...