Next to the decollectivization of agriculture, the most striking economic transformation in China since 1978 has been the rapid growth of rural nonstate industry. Firms in this sector (referred to as TVPs) are owned by a hierarchy of local government units below the county level: towns,...

Sovereign wealth funds represent a large and growing pool of savings. An increasing number of these funds are owned by natural resource-exporting countries and have a variety of objectives, including intergenerational equity and macroeconomic stabilization. Traditionally, these funds have...

Can perceptions data help us understand investment climate constraints facing the private sector? Or do firms simply complain about everything? In this paper, the authors provide a picture of how firms' views on constraints differ across countries in Sub-Saharan Africa. Using the World Bank's...