This paper analyzes the evolution of investment in China, its main features, and its key determinants. In recent years, manufacturing, real estate, and infrastructure have been the main drivers of investment. Investment remains largely concentrated in coastal areas, but there has been a shift to...

This paper analyzes the evolution of investment in China, its main features, and its key determinants. In recent years, manufacturing, real estate, and infrastructure have been the main drivers of investment. Investment remains largely concentrated in coastal areas, but there has been a shift to...

This paper for the first time employs the Time Varying Panel Smooth Transition Regression (TV-PSTR) approach to model the dynamic adjustments of firms and the evolution of India’s industrial structure in the bigger setting of decades against the backdrop of India’s unexpected dramatic...

This paper employs the Time Varying Panel Smooth Transition Regression (TV-PSTR) model to investigate the effects of India’s dramatic trade liberalization starting from 1991 on market efficiency and productivity growth using Indian manufacturing firm data. We find that the effects of...

This paper reviews Lithuania’s fiscal consolidation since 2009, assesses the contribution of revenue and expenditure to the consolidation, evaluates the quality of measures, and draws lessons for the future. It finds that, despite having the lowest revenue-to-GDP ratio in the EU, Lithuania’s...

Hong Kong SAR was hit hard by the global financial crisis, which started out in the U.S. and spilled over to the rest of the world. Three years later, vulnerabilities in the euro area''s financial system and concerns over a hard landing in Mainland China have started to weigh on Hong Kong''s...

This paper applies a logistic smooth transition regression approach to the estimation of a homogenous aggregate value added production function of the State Owned (SOE) and Foreign-Funded Enterprises(FFE) in China, 1980s-2007. The transition associated with the economic reforms in China is...