This essay investigates the contributions of different factors to regional economic growth in China. A statistical analysis on a provincial panel data from 1978 to 2007 confirms the increasing regional inequality in China can be understood as different patterns of regional economic growth, which...

When young individuals face binding debt constraints, their human capital investments will be insufficiently financed by private creditors. If generations overlap, then a well-designed fiscal policy may be able to improve human capital investments by replacing missing capital markets with an...