'It is a conventional belief that the Chinese industrial economy is dominated by large state-owned enterprises closely connected with political power. While this perception is correct for some industries, such as petroleum refinery, this fascinating book, edited by Mariko Watanabe, presents us...

We construct an overlapping generations model in which parents vote on the tax rate that determines publicly provided education and offspring choose their effort in learning activities. The technology governing the accumulation of human capital allows these decisions to be strategic complements....