In the last 30 years, China has achieved high economic growth and successfully transformed its economy from a planned economy to a market-based system. The country, to a large extent, has attained success through the recommendations proposed by standard economic theory. However, the role of...

With an equal social structure, China seems to be better prepared for a functioning democracy than other developing countries. It has stayed authoritarian because the CCP has successfully diverted the demand for democratization through tactics of economic growth, expansion of civil liberty, and...

This paper revisits the role of the manufacturing sector during the middle-income stage. By exploiting a large dataset that covers internationally comparable sectoral information, we prove that the manufacturing sector is imbued with three important characteristics. First, for middle-income...