Executive summary -- 1. China in the realm of the world economy / David Daokui Li -- 2. Interpretation of China's economic comeback / Youngrok Cheong -- 3. Reflections on 10 years of financial reform in China / Ping Xie -- 4. higher education reform in China: market orientation and institutional...

Does accession to the WTO stimulate faster growth? The issue is not only of interest to the business and policy communities, but also a test case of several active lines of economics research on openness and growth. We conduct an event study of accessions to the WTO (GATT) of 74 economies. The...

Countries making the transition to a market economy often experience an increase in corruption along with an increase in growth. This observation is puzzling in the context of current models, which emphasize the destructive nature of corruption. We present a model of corruption and reform which...