The paper provides some empirical evidence for the relationship between average firm size and the relative transaction efficiency and per capita income as hypothesized by Liu and Yang in Journal of Economic Behavior and Organization 42(2) (2000):145-65. The empirical data of 11 industries in...

This paper estimates the returns to membership of the Chinese Communist Party using unique twins data we collected from China. Our OLS estimate shows that being a Party member increases earnings by 10%, but the within-twin-pair estimate becomes zero. One interpretation of these results is that...

This paper estimates the returns to membership of the Chinese Communist Party using unique twins data we collected from China. Our OLS estimate shows that being a Party member increases earnings by 10%, but the within-twin-pair estimate becomes zero. One interpretation of these results is that...

Intergenerational educational mobility is characterized in two ways, the percentage of children who have more schooling than their parents, and the relative probability of the children attending university across their parents' schooling levels. We find that from 1991 to 2011, following a major...

This paper estimates the returns to membership of the Chinese Communist Party using unique twins data we collected from China. Our OLS estimate shows that being a Party member increases earnings by 10%, but the within-twin-pair estimate becomes zero. One interpretation of these results is that...

This paper examines the determinants of child educational attainment.\r\nIn addition to those examined in previous studies, it is found that maternal\r\nchildcare is another important determinant of child educational\r\nattainment. The results are robust after controlling for endogeneity....

The huge amount of land premium which the Hong Kong Government receives over the years from land sale and lease modifications is legendary. It gives rise to claims that the Hong Kong Government accumulates its fiscal reserve from the sale of land, and it should be able to fund a much higher...