Showing 1 - 10 of 60
This paper presents evidence of banks using accounting discretion to overstate the value of distressed assets. In particular, we show that the stock market applies far greater discounts to a bank’s real estate loans and mortgage-backed securities than are implicit in the book values of these...
Persistent link: https://www.econbiz.de/10004973976
The creation of Europe’s ‘new’ stock markets represents a major experiment in market design with important implications for the ability to support innovative, fast-growing companies. We evaluate the success of these markets based on a large number of measures of firm performance and...
Persistent link: https://www.econbiz.de/10005123860
This Paper studies the design of lawmaking and law enforcement institutions based on the premise that law is inherently incomplete. Under incomplete law, law enforcement by courts may suffer from deterrence failure. As a potential remedy, a regulatory regime is introduced. The major functional...
Persistent link: https://www.econbiz.de/10005504579
worked in product and labour markets in China’s economic reform in practice. …
Persistent link: https://www.econbiz.de/10005504255
This Paper studies growth and inequality in China and India – two economies that account for a third of the world … countries. For personal income inequalities in a China-India universe, the forces assuming first-order importance are …
Persistent link: https://www.econbiz.de/10005498030
Performance-based promotion schemes in administrative hierarchies have limitations. Chinese provincial leaders, despite facing strong career concerns, make different policy decisions depending on their career backgrounds. Provincial party secretaries who rose from low to high positions within...
Persistent link: https://www.econbiz.de/10011165652
We use available methods for testing macro models to evaluate a model of China over the period from Deng Xiaoping …
Persistent link: https://www.econbiz.de/10011083573
If trade barriers are managed by inefficient institutions, trade liberalization can lead to greater-than-expected gains. We examine Chinese textile and clothing exports before and after the removal of externally imposed quotas. Both the surge in export volumes and the decline in prices after the...
Persistent link: https://www.econbiz.de/10011083645
In 2009, the United States imposed additional tariffs for a three-year period on imports of automotive tires from China … under a special-safeguard provision included in China’s Protocol of Accession to the WTO. China challenged the measure in … in which an accession protocol was used successfully as a defense; and the first that China lost as a complaining party …
Persistent link: https://www.econbiz.de/10011083656
This paper analyses the geography of innovation in China and India. Using a tailor-made panel database for regions in … between the provinces and states within both countries are quite different. In China, the concentration of innovation is …. Innovative areas in China, rather than generate knowledge spillovers, seem to produce strong backwash effects. In India, by …
Persistent link: https://www.econbiz.de/10011083752