Aggregate domestic investment in People’s Republic of China is empirically modeled using quarterly data for the period 1994-2001. The total investment is disaggregated into two parts: business sector investment and government direct investment. The dynamic specification approach is adopted and...

A method is proposed to estimate efficiency of aggregate investment in a transitional economy, using provincial panel data from the People's Republic of China (PRC) as an experimental case. Inefficiency is defined on the basis of disequilibrium investment. It is further decomposed into...