China is one of the most popular investment destinations in the world. This paper argues that FDI inflows into China are in fact driven by some fundamental inefficiencies in the Chinese economy. Specifically, one of the inefficiencies has to do with a high level of fragmentation of both goods...

This paper examines the effects of output volatility on global sustainability in a dynamic panel data model allowing for error cross section dependence. It finds that output volatility impedes the process of sustainable development. It further suggests that output volatility exerts a significant...

Preface Introduction General Determinants of Financial Development Private Investment and Financial Development Political Institutions and Financial Development Financial Reforms for Financial Development Geographic Determinants of Carbon Markets Conclusion Bibliography