This paper investigates the worldwide phenomenon of "political divergence'' between the East and the West. During the 8th to 10th centuries, Western Europe and China both achieved political stability, but they did so through dramatically different routes. Western Europe developed parliamentary...

This paper provides insights on the sustainability of economic development from a historical and political economy perspective. We demonstrate that China's rural financial policy in the 1980s was quite liberal in employing market mechanisms, supporting entrepreneurship, and encouraging...

In this paper, we use a unique dataset covering joint ventures in two provinces of China, Jiangsu and Zhejiang, to test the effect of the institutional environment for domestic private firms on ownership structures of FDI projects. Unlike many studies on this subject, we approach the issue from...