In transitional economies like China, comparatively low real wages imply sub-OECD labor and skill shares of value added and comparatively high capital shares. Despite rapid real wage growth, however, rather than converge toward the OECD, China's low-skill labor share has been falling, due to...

The rapid development of artificial intelligence (AI) is not only a scientific breakthrough but also impacts on human society and economy as well as the development of economics. Research on AI economics is new and growing fast, with a current focus on the productivity and employment effects of...

This paper investigates the inequality of opportunity in China's labor earnings, defined as the component of inequality determined by personal circumstances that lie beyond the control of an individual, of which gender is one, as opposed to the component determined by personal efforts. Using the...

China’s financial openness, measured by cross border flows and asset ownership, peaked during its growth surge. We analyze its international effects and the roles of capital controls that restricted financial inflows to approved FDI limited private outflows. We use a global macro model with...

With its per capita income surpassing US10,000, China has now drawn up ambitious plans to further lift its income to the level of developed countries. Yet various constraints need to be overcome if China is to build on the achievements of the last 40 years and further boost its growth potential.