A PDF version of this book is available for free in open access via the OAPEN Library platform, www.oapen.org. This book examines the emergence of both financial markets and carbon markets, and provides an in-depth investigation on the fundamental determinants of financial development.

"Chinese society has been shaped by the interplay of the EAST--exams, autocracy, stability, and technology--from ancient times through the present. Beginning with the Sui dynasty's introduction of the civil service exam, known as Keju, in 587 CE--and continuing through the personnel management...

In a dynamic panel data model allowing for error cross-section dependence, output volatility is found to impede sustainable development. Through a financial development channel (liquidity liability ratio), output volatility exerts a significant effect on depletion of natural resources, a key...

"It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with an ageing population, and coping with a less accommodative global...