This paper attempts to explain how institutions in the reform era of China have evolved by looking into the FDI … understand institutional change in China. Though the initiation of the open-door policy in the reform era is commonly regarded as …

While China has been pivotal in discussions and academic research on global imbalances, little is known about … the regional level inside China. We follow up by identifying the drivers of this pattern using the methodology developed … catch-up parameters, we find an investment and a saving puzzle: regions that caught up relative to the rest of China seem to …