Unlike the popular belief, digital transformation mainly gets stymied by legal and regulatory issues related with legacy institutions in Asia rather than technical difficulties. The real challenges triggered by the PSD2 (Payment Services Directive 2) are how the region would overcome the overly...

This paper presents lessons from environmental management in Bulgarian agriculture for Central Asian countries. Comparative institutional analysis is employed to evaluate potential of diverse governing modes to deal with environmental problems and risks, protect absolute and contracted...

This working paper shows China's technological advance, its basis in using foreign technology combined with its own manpower resources, and its clever integration of regional ambitions with national policies and programs. It also indicates an emerging global rivalry as China moves towards a...

Corruption (the abuse of entrusted authority for illicit gain) is pervasive, hard to measure, and damaging both to economic growth and human rights. Corruption is also intimately associated with trade. However, the international organization governing trade, the WTO, says nothing about...

It is sometimes claimed that free trade agreements (FTAs) between large countries and smaller developing countries serve as "policy anchors" by acting as a mechanism for the smaller developing country to make credible commitments to policy reform which they might not otherwise make. Such policy...

This paper examines the progress of state-owned enterprise (SOE) reform in the People’s Republic of China. After defining SOEs and considering their scope of operation within the PRC economy, the focus of the paper is on the major reform waves that followed the deterioration of SOE...

This paper provides evidence on how executive compensation relates to firm performance in listed firms in China. Using comprehensive financial and accounting data on China's listed firms from 1998 to 2002, augmented by unique data on executive compensation and ownership structure, we find for...

With deregulation and globalization, and the direct impact of these developments on economies worldwide, it is necessary for authorities in the People's Republic of China (PRC) to consider an approach that would further attune its economic engine toward sustained growth. This paper argues that...

We scrutinize the systemic consequences of state intervention triggered by external shocks in the transforming Chinese economy before and after the global crisis. We interpret investment dynamics using a comparative party-state model concept framework. We identify the overinvestment as an...

In this paper, we scrutinize in the transforming party-state system of China the subtle dynamics of enterprise adaptation to state interventions, which react to hardening external and internal constraints. We use a comparative systemic framework that interprets adaptation in the context of...