One symptom of the resource curse, as comparative studies suggest, is that rich mineral resources often contribute to social conflicts and even civil wars, especially in developing countries with weak political institutions. How can resource-rich countries deal with these social conflicts? This...

Returns to currency carry and momentum are compensations for the risk of global interest rate uncertainty (IRU), with risk exposures explaining 92% of their cross-sectional return variations. The unified explanation stems from its impact on financial constraints of FX intermediaries. Higher...

Distorted energy prices undermine resource allocation efficiency and threaten China's economic growth and reduction of carbon emissions. This study examines the price distortions for fossil and renewable energy based on Chinese provincial panel data and estimates the influence of distorted...