A method is proposed to estimate efficiency of aggregate investment in a transitional economy, using provincial panel data from the People's Republic of China (PRC) as an experimental case. Inefficiency is defined on the basis of disequilibrium investment. It is further decomposed into...

This paper studies the impact of skill formation on employment opportunities and wages. Instead of international trade theory or technological progress theory, the paper focuses on labor "skill formation" to investigate the employment discrimination and skill wage inequality in the Chinese labor...