A great deal of the foreign aid-growth literature finds that the net effect of aggregate aid on total growth appears to be insignificant. This study argues that this aid-growth nexus can be better explained by testing the variation responses for each of growth sectors to their corresponding...

This paper analyzes the relationship between the stock of infrastructure and income increases using data from 15 typical countries, including China, and measures the gap between China and upper-middle-income countries using the Euclidean distance. By constructing a domestic infrastructure...

This book is a comprehensive, balanced and realistic assessment of China's financial reform program and future direction. Covering not only the banking sector but also non-bank financial institutions, stock market development and external financial liberalization, the authors examine the impact...