The paper examines the contentious issue of the extent of surplus labour that remains in China.  China was an extreme example of a surplus labour economy, but the rapid economic growth during the period of economic reform requires a reassessment of whether the second stage of the Lewis model...

Diffusion functions in term-structure models are measures of uncertainty about future price movements and are directly related to the risk associated with holding financial securities. Correct specification of diffusion functions is crucial in pricing options and other derivative securities. In...

Why is it that, as the Chinese Communist Party has loosened its grip, abandoned its core beliefs, and marketized the economy, its membership has risen markedly along with the economic benefits of joining? We use three national household surveys, spanning eleven years, to answer this question...

Purpose – The impact of trade shows on the internationalization of participating small exporting firms in terms of growth and expansion has gone largely unstudied, as has their effectiveness in network‐building activities. Using the network model of internationalization, the purpose of this...

Purpose The purpose of this paper is to investigate consumer willingness to pay a premium for domestically manufactured products in the context of a buy-national campaign and the role of congruity in determining that willingness. Design/methodology/approach A market-stall-like context was used...

A national household survey for 2002, containing a specially designed module on subjective well-being, is used to estimate pioneering happiness functions in rural China. The variables that are predicted by economic theory to be important for happiness prove to be relatively unimportant. Our...

China's leaders have often expressed concerns about social instability, viewed as a threat both to the political order and to continued rapid growth. Slower growth might, in turn, further undermine social stability. Using survey data, the present paper examines the economic determinants of...

The paper examines the notion of a ‘developmental state’ and shows that China possesses the characteristics of a developmental state. It explains the political economy which generated such a state in China and in some other economies. It analyses the methods and mechanisms that were...

Purpose – Aims to conduct research on consumer willingness to buy genetically modified (GM) foods with a price advantage and other benefits, compared with organic and ordinary types of foods, employing a robust experimental method. The importance of this increases as the volume and range of GM...