This Article investigates the evolution of the Chinese legal mechanism for medical malpractice dispute resolution (MMDR) from the establishment of the first rules for MMDR in 1955 to the promulgation of the Regulation on Preventing and Dealing with Medical Malpractice Disputes in 2018. Using...

China's Belt and Road Initiative (BRI) is a mechanism through which countries can upgrade connectivity-related infrastructure, including through cross-border projects, complementing traditional sources of finance. An overarching goal of the BRI is to reduce trade costs between China and partner...

This paper advances the literature on distributive politics by analyzing a form of political favoritism driven by the career uncertainties faced by officials. We argue that political leaders provide regime insiders with favors in a high-risk environment. To empirically test this political risk...

Cancer often results in catastrophic health expenditures and creates a huge financial burden for families. We study the impact on patient finances and health outcomes of the national centralized drug procurement program in China for leukemia patients. The program reduced the price of the generic...

Government often acts as the largest buyer in an economy through government procurement. The allocation of procurement order however is often distorted. We build a model with heterogeneous firms endogenously seeking government favors in procurement to show that misallocation of procurement...

This paper documents recent structural changes in China's corporate landscape, based on company level data, providing a complementary perspective to that of official Chinese statistics. We classify China's largest companies by revenue since 2004 (based on Fortune Global 500 rankings), and...

This report provides an overview of the causes and consequences of the Italian State-owned Enterprises (SOE) reform process. Particularly, it analyzes the symbiotic link between share issue privatization (SIP), i.e. privatization in public equity markets, and financial market development, and...

The role of government shareholding in corporate performance is central to an understanding of China?s newly privatized large firms. In this paper, we analyze shareholders as agents that can both harm and benefit companies. We examine the ownership structure of 826 listed corporations and find...

We review previous literature on productivity spillovers of foreign direct investment (FDI) in China and conduct our own analysis using a crosssection of firm data. We find that the evidence of FDI spillovers on the productivity of Chinese domestic firms is mixed, with many positive results...