Researchers have documented racial inequalities in wealth ownership and have offered a variety of explanations to account for these differences. One potentially important contributing factor that has received little attention is racial differences in family structure. This paper explores racial...

During the 1980s, China experienced dramatic real growth without the benefit of a well-developed financial system. China's experience during that decade provides an interesting contrast to evidence that real growth is strongly correlated with the development of an economy's formal financial...