Many educational systems have struggled with the question about how best to give out financial aid. In particular, if students do not know the amount of financial aid that they can receive before they make a decision about where to go to college and what major to study, it may distort their...

This paper analyzes gender earnings gaps in Hong Kong using the 2006 by-census data. To explore the sources of gender earnings gaps, we decompose the gaps using the method proposed by Machado and Mata (2005). We have three major findings. First, gender earnings gaps are larger both in lower...

This paper describes the process of privatization of China's Township Enterprises. Findings from a recent field survey by the authors show how far privatization has proceeded and how it has affected firm performance. The pervasiveness and impact of privatization are readily apparent. The...

It is shown that the government, in privatizing state owned enterprises, can use partial privatization as a screening mechanism to elicit private information from the manager about the firm's value. Although some new owners do not have maximum incentives, this screening contract allows the...

Drawing on a unique dataset we collected in 1998 and 2000, this article examines the determinants of privatization of township and village enterprises in China. Our theoretical model explicitly considers the role of banks in determining privatization. We find that improved human capital and...

China’s emerging labor market was buffeted by changes in demand and supply and institutional changes in the last two decades. Using the Chinese Urban Household Survey data from 1989 to 2009, our study shows that the market responded with substantial changes in the structure of wages and...

We use survey data on twins in urban China, among whom many experienced the consequences of the forced mass rustication movement of the Cultural Revolution, to identify the roles of altruism, favoritism, and guilt in affecting family behavior. We exploit the fact that many families were forced...