This paper is the fourth chapter of a forthcoming book, Capitalism with Chinese Characteristics (New York: Cambridge University Press, July 2008). The book is a narrative account of the evolution of capitalism in China in the last three decades. (The year 2008 marks the 30th anniversary of...

Using a comprehensive sample of all FDI firms in China, we explore the question whether ethnicity enhances operating performance. While there has been a sizable theoretical literature studying ethnicity and foreign investments, the prediction of the impact of ethnicity on firm profitability is...

"One of the most important and one of the most heavily studied ethnic networks in the world is overseas Chinese. However, almost all of the analysis on the economic dimensions of the overseas Chinese network has been about the effects of ethnic ties on the aggregate volume of trade or the...