We contribute to the role of telecommunications infrastructure on economic growth in three ways. We separately examine fixed-line and mobile telephone subscription levels. We compare results across periods and regions that differ by the level of development. In addition, we develop a method...

This book focuses on experiences with the Anti-Monopoly Law (AML) of 2007 in China. It uses carefully-chosen case studies to examine how the competition authorities in China discuss cases and how they use economic reasoning in their decision-making process.

This paper explores the impact of private sector participation on industrial performance of urban water supply by using panel data for 35 major cities in China over the period 1998 to 2008. We find that the introduction of private sector participation is significantly correlated with improvement...

A panel of province by year data for China from 1998 to 2007 is used to estimate own- and cross-price elasticities for fixed and mobile telephone service. Identification is achieved through the use of measures of the level of competition and privatization of the industry. Moreover, using...

The Chinese telecommunications sector is undergoing fundamental changes as it moves towards liberalization. This paper examines how liberalization and privatization have affected the performance of Chinese telecommunications industry. We identify greater liberalization with increases competition...

We show that when investors review their consumption and investment plans infrequently at different points in time with interim information flow the standard consumption-based capital asset pricing model (CCAPM) will continue to hold only at those points in time when all investors review their...

When consumption betas of stocks are computed using year-over-year consumption growth based upon the fourth quarter, the CCAPM explains the cross-section of stock returns as well as the Fama and French (1993) three-factor model. The CCAPM's performance deteriorates substantially when consumption...

This study employed a clustering algorithm and a logistic regression analysis to examine the relationship between cropland and demographic attributes obtained at the census block group level. The result indicated that population density, African Americans, and poverty are significantly related...

This paper departs from the conventional assumption of unbounded rationality in the marketplace and investigates the effects of a suboptimal behavior in financial markets. A rule of thumb adopted by a group of agents is proven to be near-rational, in the sense that the costs borne by those...