This paper investigates the causes underlying the tragic story of Korea's bicycle industry from what appeared to be as competitive as Taiwan's up until the 1970s to its complete dissolution and collapse. Whereas Taiwan went on to overtake Japan as the world's number one bicycle exporter by 1980,...

This paper examines the causal relationship between financial liberalization and income inequality using India as a case study. The results indicate that there exists a robust long-run relationship between financial liberalization and income inequality, and their causal relationship is a...

Although theory emphasizes the role of financial market frictions in explaining income inequality, there is little empirical research exploring how financial development and financial sector reforms influence the evolution of income inequality. This paper examines how finance impacts on income...

This article analyses the political economy of state aid in the European Union (EU) using the concepts of economic patriotism and models of capitalism. State aid is analysed as a form of economic patriotism, which is conceived here as economic interventions which seek, by a number of means, to...

The paper shows that between the late 1980s and 1997, the year when Korea was engulfed in a financial crisis, its corporate-sector profitability was on a decreasing trend, albeit short-term ups and downs. The evidence presented in the paper suggests that Korea’s corporate and financial sectors...

Increasing domestic and external imbalances pose a serious challenge to economic development in China. While several forms of economic imbalances have been identified and discussed, many of these imbalances represent symptoms rather than the main issues that Chinese policymakers have to deal...

To help explain the common failure of oil or other natural resource exporting countries to diversify into industry, it has been common to trace this failure to real exchange rate appreciation. This has also been done in Azerbaijan. However, because Azerbaijan has devoted so much of its oil...

The investment-intensive growth model of the People's Republic of China (PRC) is often viewed as state-driven and ultimately unsustainable. But largely unnoticed, a shift has taken place. This paper examines the changes in investment patterns since 2003 and the potential impact of industrial...

Since the late 1970s, the Chinese government has been undertaking major efforts in developing their countries economy by means of industrial policy. However, a more narrow approach to industrial policy has been pursued only since 2010, with the initiation of the 'Strategic Emerging Industries'...

The investment-intensive growth model of the People’s Republic of China (PRC) is often viewed as state-driven and ultimately unsustainable. But largely unnoticed, a shift has taken place. This paper examines the changes in investment patterns since 2003 and the potential impact of industrial...