Generalized anticipated backward stochastic differential equations, studied for the first time in 2007, are equations with generator f depending on the future value of the solution (Y⋅,Z⋅). In this paper, we will study the existence and uniqueness of the reflected solutions to these...

This paper asks whether government investment "crowds out" or "crowds in" private investment in China. We divide government capital expenditures into two types: (1) investment that serves to provide public goods and infrastructure, and (2) investment in private industry and commerce. The results...

The Pearl River Delta, one of the main regions of China’s export-oriented economy, has benefited from its traditional economic structure for three decades which in turn appeared to hinder further economic development recently. To advance industrial restructuring and upgrading, the governments...

Purpose – The purpose of this paper is to: first, test if information-adjusted noise model (IANM) can be applied in China; second, quantify noise trader risk, overreaction, underreaction and information pricing errors in that market; and third, explain the relationship between noise trader risk...