This paper constructs a growth model that is consistent with salient features of the Chinese growth experience since 1992: high output growth, sustained returns on capital investments, extensive reallocation within the manufacturing sector, falling labor share and accumulation of a large foreign...

China has sought to improve enterprise performance not through privatisation as in other transition economies, but through corporatisation as means of improving corporate governance. Actual governance practices of corporatised Chinese firms are however seriously defective, characterized by...

This paper provides the first systematic evidence on compensation for executives of firms listed in China’s emerging stock market (currently the eighth largest of the world with market capitalization of over $550 billion). Specifically, using comprehensive financial and accounting data on...

The desirability of WTO membership for China depends on whether its economic successes have been the result of its discovery of new institutional forms (e.g. dual track pricing, SOE contracts, and fiscal contracts) that are optimal for China''s particular economic circumstances, or have been the...

China has sought to improve enterprise performance not through privatisation as in other transition economies, but through corporatisation as means of improving corporate governance. Actual governance practices of corporatised Chinese firms are however seriously defective, characterized by...

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...

Vietnam has been among the most successful East Asian economies, especially in weathering the external shocks of recent globalization crises - the 1997-98 Asian financial crisis and the 2008-09 great recession, financial crisis and collapse of global trade. Its success contradicts its...

Dieses Paper beschäftigt sich mit dem Zusammenhang zwischen der Wettbewerbspolitik in China und dem WTO-Beitritt. Es wurde festgestellt, dass der WTO-Beitritt zur rechtlichen Verankerung der Wettbewerbspolitik in China wesentlich beigetragen hat. Die chinesische Transformation von der...

This paper documents the technical efficiency of Chinese banks over 1999–2010. With stochastic frontier analysis, we find that Chinese banks are about 18% more efficient in generating lending assets than profits. We also observe an upward trend of bank efficiency after China's entry to WTO in...

Trade policies can promote aggregate efficiency, but the ensuing structural adjustments generally create both winners and losers. From an incomes perspective, trade liberalization can raise GDP per capita, but rates of emergence from poverty depend upon individual household characteristics of...