In his seminal paper Galor [A two-sector overlapping generations-model: a global characterization of the dynamical system, Econometrica 60 (1992) 1351-1386] establishes conditions for the existence of equilibrium in the two-sector overlapping generations (OLG) model. Although appealing...

This paper examines the relationship between trade and economic growth based on China¡¯s national data for the period of 1952 to 1997. It is found that the growth rate of exports, the growth rate of imports, and the growth rate of the volume of trade are positively related to the growth rate...

We revisit the environmental Kuznets curve (EKC) hypothesis using 1987-1995 data for Chinese provinces. A comparison of off-sample (1996-2004) predictions to actual emissions indicates that more stringent rules are still needed to fight industrial (waste water and dust) pollution. Auxiliary...

Using a model with heterogeneous agents, this article demonstrates how public transfers affect physical as well as human capital accumulation. An increase in public income transfer from the rich agent to the poor agent will decrease (or increase) both physical and human capital accumulation if...

Increasing calls for a social security reform of switching from the pay-as-you-go (PAYG) system to a funded system has been seen in recent decades. This paper examines the effect of this reform on capital accumulation and the welfare of each generation. Three methods are used to finance the...

Prior studies have failed to examine the spatial dimension of FDI productivity spillovers in transition economies. Using data from China, this article investigates how FDI in one location may affect the productivity of domestic firms in another location. The study finds strong evidence that FDI...