In this paper we estimate China's human capital stock from 1985 to 2007 based on the Jorgenson-Fraumeni lifetime income approach. An individual's human capital stock is equal to the discounted present value of all future incomes he or she can generate. In our model, human capital accumulates...

Within the endogenous growth framework, we offer an explanation on how foreign direct investment (FDI) generates externalities in the form of technology transfer. We distinguish between the level and rate effects of spillovers on the productivity of domestic firms. A new insight gained from the...

We investigate the impact of family co-residence structure and the allocation of major childcare responsibility across generations on a child's cognitive development. Using data from China, we find that children living in multigenerational families generally perform better in their cognitive...