In this paper, an incomplete financial market model was built to illustrate the impacts of the market incompleteness on the benefits of trade liberalization. Particularly, it will focus on the investigation of the impacts of different sequences of opening up the goods market. That is, should the...

This paper offers a contract-based theory to explain the determination of standard hours, overtime hours and overtime premium pay. We expand on the wage contract literature that emphasises the role of firm-specific human capital and that explores problems of contract efficiency in the face of...

This paper applies a two-stage, double bootstrapping data envelope analysis approach to investigate whether and to what extent various distinctive corporate governance practices affect productive efficiency in a sample of 461 publicly listed manufacturing firms in China between 1999 and 2002. We...

In the transition from a command to a market economy, macroeconomic stabilization poses a grave problem facing the reform governments. A distinct feature of China's economic fluctuations in the post-1979 period has been its "soft-constraint competition." A two-region game theoretical model is...

To estimate the economic policy effects of per unit policy change the conventional policy multipliers, as a measure of policy effects can be easily calculated from the traditional dynamic econometric model without expectations variables. However, the past decade has witnessed much research and...