The recent blossoming of panel econometrics in general and panel time-series methods in particular has enabled many more research questions to be investigated than before. However, this development has not assuaged serious concerns over the lack of diagnostic testing procedures in panel...

Despite the widely recognised importance of the manufacturing industry for successful development few studies investigate this sector in cross-country analysis. We fill this gap in the literature by analysing manufacturing production across a large number of developing and developed economies....

We develop a new model of multi-product firms which invest to improve both the quality of their individual products and of their brand.  Because of flexible manufacturing, products closer to firms' core competence have lower costs, so they produce more of them, and also have higher incentives...

We use a panel of over 120,000 Chinese firms of different ownership types over the period 2000-2007 to analyze the linkages between investment in fixed and working capital and financing constraints.  We find that those firms characterized by high working capital display high sensitivities of...

This paper addresses the hotly-debated question: do Chinese firms overinvest?  A firm-level dataset of 100,000 firms over the period of 2000-07 is employed for this purpose.  We initially calculate measures of investment efficiency, which is typically negatively associated with...

This paper attempts to address a puzzle in China's investment pattern: despite high aggregate investment and remarkable economic growth, negative net investment is commonly found at the microeconomic level.  Using a large firm-level dataset, we test three hypotheses to explain the existence and...

In this paper, I study how an increase in the use of new work practices that involve multi-tasking has affected the returns to experience.  If each task in a job has a concave learning curve, then increasing the number of tasks may increase the returns to experience.  Using the Panel Study of...

In this chapter we present a selective analytic survey of some of the main results of trade under oligopoly.  We concentrate on three topics: oligopoly as an independent determinant of trade, as illustrated by the reciprocal-markets model of Brander (1981); oligopoly as an independent rationale...

This chapter reviews the literature on the theory of relational incentive contracts.  It motivates the discussion by the classic applications of relational contracts to the GM-Fisher Body relationship and the relationships between Japanese automobile manufacturers and their subcontractors.  It...

Saddlepath learning occurs when agents learn adaptively using a perceived law of motion that has the same form as the saddlepath relationship in rational expectations equilibrium.  Under saddlepath learning, we obtain a completely general relationship between determinacy and e-stability, and...