This study adopts the financial risk spillover network as the analytic tool, investigate each financial market's capital flows and asymmetric risk output strengths, risk contagion paths, and dynamic risk spillover evolution in essential markets, examines the influencing factors and mechanisms of...

We identify negative spillovers exerted by large, successful manufacturing plants on other local production facilities in China. A short-lived alliance between the U.S.S.R. and China led to the construction of 150 "Million-Rouble plants" in the 1950s. Our identification strategy exploits the...