During the 1980s and early half of the 1990s, the entry of new firms, the strengthening of managerial incentives, and the accumulation of non-state assets in the state sector set the stage for China's shareholding experiment, involving the formal conversion of thousands of state-owned...

China’s economic transformation is proceeding at different rates across different regions and sectors, and China’s most advanced regional sector, coastal industry, still lags well behind the world’s technology frontier. This paper explores the implications of these internal and...