Fundamental innovation usually involves huge upfront costs, but the benefits are spread across various sectors of the economy. Given the large costs and limited appropriability of the benefits associated with fundamental innovations, individual firms underinvest in these innovations relative to...

Since the beginning of economic reforms two decades ago, the economy in China has produced real growth rates of between 8 percent and 10 percent per year. We believe that China will continue to experience exceptional growth for decades to come at rates well above those of any other large country...

A growing body of literature is investigating the social and cultural determinants of household financing activity. This paper examines the impact of traditional culture, specifically Confucian culture in China, on informal household financing at the county level. We find that Confucian culture...

China is experiencing an organ shortage crisis, and family opposition is one of the major factors that affect people’s willingness to donate in China. We experimentally test the effectiveness of the family-priority allocation rule on organ donation and argue that such incentive would be highly...

Since the beginning of the economic reforms two decades ago, the economy in China has enjoyed a real growth rate of 9.6 percent per year. We believe that China is only in the early stages of its rapid-growth period. China is likely to enjoy rapid growth for decades to come at rates well above...

Since the beginning of the economic reforms two decades ago, the economy in China has enjoyed a real growth rate of 9.6 percent per year. We believe that China is only in the early stages of its rapid-growth period. China is likely to enjoy rapid growth for decades to come at rates well above...

Based on data from the Chinese Family Panel Survey (CFPS), this paper measures the rural households’ vulnerability to expected poverty (VEP) in China during 2012-2018 and investigates the impact of digital financial inclusion (DFI) on rural households’ poverty vulnerability using a logit...

Despite the rapid global shift towards local involvement in protected areas, studies on Community-based Co-management (CBCM) in China’s top-down protected area system is rather limited. To fill this gap, our research focused on the empowerment level, the core of CBCM, to disclose the temporal...