The era of globalization saw China emerge as the world's manufacturing titan. However, the "made in China" model-with its reliance on cheap labor and thin profits-has begun to wane. Beginning in the 2000s, the Chinese state shifted from attracting foreign investment to promoting the...

Due to the crisis of 2007-2009, financial friction macro models are being used to provide a theoretical foundation for the evaluation of 'unconventional policy'. In these models banks take deposits from households and lend to firms. Empirically, other financial channels that are missing in the...

Bureaucrats, businesses, and economic policies in a globalized China -- Chasing foreign capital -- From FDI attraction to domestic competitiveness -- Local policy making, globalized coalitions, and resource allocation -- The micro foundation of state intervention and policy effectiveness --...