The present document examines the role of social and economic transformation in the process of poverty reduction in China. China's economic growth and poverty reduction over the past 40 years are historically unprecedented both in speed and scale. Between 1978 and 2018 China's economy grew at an...

Contagion from East Asia imposed a severe "stress test" on the market-oriented reforms of transition economies. We find that the portfolio reallocations of investors differentiated sharply among these economies at the height of the East Asian turmoil, appearing clearly in the relative movements...

This paper investigates the relative importance of three sets of factors - initial conditions, macroeconomic stabilisation and structural reforms - as determinants of growth in transition economies during the first ten years. We ask whether countries that defied the odds, given by their initial...