Understanding the logic of fiscal decentralization is pivotal for the next steps of fiscal reform, and retrospection of the literature and evidences accumulated in the field is the first step. As a typical transition economy with rapid and extensive devolution reforms, China is the ideal context...

Understanding the logic of fiscal decentralization is pivotal to the next steps of fiscal reform. The first step is a retrospection of the literature and evidence accumulated in the field. As a typical transition economy with rapid and extensive devolution reforms, China is the ideal context to...

Understanding the logic of fiscal decentralization is pivotal for the next steps of fiscal reform, and retrospection of the literature and evidences accumulated in the field is the first step. As a typical transition economy with rapid and extensive devolution reforms, China is the ideal context...

What determine Chinese party and state cadres’ promotion? Does government performance matter? Using a unique data-set on the promotion and performance of provincial party secretaries and governors (N=303) in China (2000-2004), we apply event history analysis (EHA) methods to empirically...

Internationally, the public sector is adopting social media applications (e.g. Twitter and social networking services) to harness cutting-edge information technology developments, but we know little about what drives the diffusion of these applications. In this paper, I adapt the Berry-Berry...

Governments across many countries are adopting new social media (e.g. twitter), and police departments are engaging in the bandwagon too. We empirically examine the spread of police microblogging in Chinese municipal police departments from the perspective of organizational innovation diffusion....

In times when short-term policy rates are at or near the zero lower bound, central banks use unconventional policies such as forward guidance and quantitative easing to influence the slope of the yield curve. In this paper, we analyze the dynamic responses of key U.S. macroeconomic variables to...

We examine how short sale constraints on portfolio holdings affect closed-end fund (CEF) discounts and thereby distinguish behavioral-based explanations from fundamental-based explanations of the discounts. Using Regulation SHO as a natural experiment that relaxes short-sale constraints on pilot...

We examine the strategic role of cash in industries with significant R&D, and the variation of cash holdings and R&D intensity across such industries. Firms compete to innovate but must also finance to bring innovations to the market. The first successful launcher of a new product enjoys an...