Income and wealth inequality rose over the first 150 years of U.S. history. They may have risen at times in Britain before 1875. The first half of this century equalized pre-fisc incomes more in Britain than in America. From the 1970s to the 1990s inequality rose in both countries, reversing...

This paper has two aims. The first is to reduce the range within which the true U.S.-China bilateral trade deficit lies. The second is to identify the determinants of the bilateral trade deficit, and offer an assessment of their relative importance. We calculate a smaller range of values for the...

By applying panel estimation models to Chinese provincial level data for 1993-2008, this paper examine the impacts of China's coastal foreign direct investment (FDI) and exports on its inland regions. The results show that coastal FDI has overall positive interregional impacts, while coastal...

China is a success story of inclusive trade growth as a result of its participation in Global Value Chains (GVCs). It is in transition from a processing and assembly hub towards an innovation centre, and is becoming a regional supplier of research and development (R&D) intensive parts and...

China's early industrialization created distortions.This paper identifies major distortions in the Chinese economy in the pre-reform era and brings agricultural distortions into perspective.

How have labor market institutions and welfare-state transfers affected jobs and productivity in Western Europe, relative to industrialized Pacific Rim countries? Many studies have tackled this question, with mixed and often unclear results. This paper proposes an eclectic comparative economic...