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We develop a model of occupational choice and entrepreneurship in which market frictions limit the possibilities for diversifying entrepreneurial risk. A concern for relative standing arises in this model even though individuals care only about the consumption of standard commodities. In...
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Volksrepublik China seit 1978 übertrifft alles bisher Bekannte. Diese Dynamik ist umso beachtlicher, blickt man auf den gesamten … zur zweitgrößten Wirtschafts- und Handelsmacht hat China Japan überholt und aufgeschlossen zur Europäischen Union als … China das Wachstum der vergangenen Jahrzehnte aufrechterhalten kann, wird es in weniger als 15 Jahren die Vereinigten …
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In this paper we provide an overview of the growth model in China and its prospects, taking a medium-run to long …-run perspective. Our main conclusions are as follows. First, the still prevailing producer-biased model of managed capitalism in China …-)escalate once global and domestic economic conditions normalise. Third, the fundamental factors underpinning growth in China are …
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This paper analyzes economic-social interaction in China in connection with the country's change of economic system. I … China's options for future social improvements into three broad categories: policies that improve the stability and …
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The success of economic reforms in China is often attributed to favourable starting conditions. Yet structural … and insufficient reform efforts are shown to have worked against enterprise efficiency and economic growth in China …
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