In this paper, the authors analyze the optimal policies of two active countries toward international movement of both labor and capital in a two-stage noncooperative game. They show that a complete buyout of both factors by either country can never be a Nash equilibrium, although a partial...

This paper reviews factors that significantly affected Hong Kong's rapid economic development in three consecutive periods: (i) the period of industrialization from 1952 to 1974, (ii) the period of diversification from 1974 to 1980, and (iii) the period of economic integration with China since...

The rapid export growth of China's township-village enterprises (TVEs) has not been well understood and explained. Using a simple analytical model and exploring a unique dataset on China's TVEs, we investigate the determinants of TVEs' export performance as measured by export intensity. We _nd...