This paper uses Granger causality tests to examine the differences of causal relationships between coal consumption and GDP in major OECD and non-OECD countries, using data for the period of 1980-2005. What we discovered is that unidirectional causality running from GDP to coal consumption...

China adopted a dual-price system shortly after the economic reform started in 1978 to liberalise its price control. This led to the coexistence of both plan and market prices for an identical good in the economy. The conventional demand theory developed based on the pure market economies is not...

Market competition is essential for any economy to be efficient. In order to develop competition in a transition economy, it is conventionally thought that privatisation should take place first. This wisdom has been challenged by the Chinese reform experience of the last two decades, which...

Does the class of shareholdings matter for corporate performance? To address the question, our paper starts by classifying shareholdings on the basis of the principle of ultimate ownership. At present, the shareholding structure of Chinese quoted companies is state-dominant in that 84% of public...

This paper adopts a dynamic approach to investigate the impact of openness on efficiency improvement of the world economy and compares the linkages between openness and performance in India and China. Based on a panel of data set of 126 countries over the period 1970-98, the world production...