May 2000 - Reformers of China's state enterprises should realize that more could be realized from capital transfer than is being gained from labor retrenchment. And more efficient capital allocation, by reducing the pressure on labor, would bring larger gains at a lower social cost. Chen and...

Using a large, original database of 385 politically connected firms under the Mubarak regime in Egypt, we document for the first time the negative impact of cronyism on economic growth. In the early 2000s, a policy shift in Egypt led to the expansion of crony activities into new, previously...