Firm diversification across unrelated businesses is prevalent in many emerging economies, in contrast to the practices in developed economies. A fundamental difference between these two types of economies concerns with the existence of sound economic institutions including in particular the...

type="main" xml:id="twec12108-abs-0001" <title type="main">Abstract</title> <p>This article provides the first evidence about pure exporters (i.e. firms exporting all of their output to the foreign market) – a phenomenon overlooked and cannot be explained in the existing literature. It then offers a theoretical analysis of...</p>

This paper analyzes whether China's investment and savings rates are too high by considering the rate of return to investment and other factors. It also investigates the reasons for the rapid increase in the savings rate by using various sources of data and analytical tools. In particular, much...