China's transport infrastructure distribution and its economic activities have largely the same pattern of spatial clusters. This paper aims to determine whether causal linkages exist between transport infrastructure investment and economic growth in China at national and regional levels. We...

The innovative information-based framework for credit risk modeling, proposed recently by Brody, Hughston, and Macrina, is extended to a more general and practically important setup of random interest rates. We first introduce the market model, and we derive an explicit expression for...