China's economic growth rates since reforms were introduced in 1979 have been impressive. In the past six years, for example, China's annual average growth rate was 9%. In the real estate sector, investment revenues increased by an average of 27% in each year. However, a recent People's Bank of...

The role that stock markets should be afforded in economic development policy in China is the subject of debate. Some argue that they are essential to reforming state-owned enterprises (SOE's) and overcoming deficiencies in China's credit markets. However, others claim they are not necessary...

This paper reviews and critically comments on the policy debate surrounding China's exchange rate regime. There are presently two key issues - firstly, whether the RMB has become significantly undervalued, and secondly, whether China would benefit from adopting a flexible exchange rate regime....

Banking industry liberalization in China has gained pace. The theoretical underpinning of this policy approach is the McKinnon-Shaw hypothesis, which contends that a liberalized financial sector will maximize the quantity of deposits mobilized and optimize the efficiency with which these funds...

The dramatic growth in recent decades of international trade and investment flows has precipitated a massive increase in the demand for financial intermediaries and markets to facilitate and manage this process. This rising demand, combined with non-linearities in financial services supply, such...

Objective We propose a new method to measure health inequalities caused by conditions amenable to policy intervention and use this to identify health differences between sexes and age groups.Methods The lowest observed mortality rates are used as a proxy of unavoidable mortality risks to develop...

There are two main types of data sources of income distributions in China: household survey data and grouped data. Household survey data are typically available for isolated years and individual provinces. In comparison, aggregate or grouped data are typically available more frequently and...

Much of the endogenous growth literature has dwelled on evaluating the spillover effects of trade on growth, but much less efforts have been directed towards tracing and quantifying the spillover effects of foreign investments. This paper, in incorporating the effects of various types of foreign...

This study measures the effect of changes in net housing and financial wealth on household consumption. The link between consumption, income and net wealth is measured within a Dynamic Ordinary Least Squares and a Dynamic Generalised Least Squares framework for the period Q2:1988-Q1:2003. It is...

This paper examines the determinants of technological catching-up across 63 countries over the period 1982-2000. A two-stage empirical approach is adopted. In the first stage, the technological divide between individual countries and the global frontier, known as the metafrontier ratio (MFR), is...