Despite consistently lower productivity, China’s state-owned enterprises (SOEs) exhibited higher profitability than non-SOEs after 2001 while the opposite was true in the 1990s, even with markets becoming increasingly liberalized and GDP growth remaining high throughout the whole period....

A growth model is developed to explain how the improvement in the endowment structure leads to industrial evolution in a closed developing economy. On the balanced growth path industries will endogenously upgrade toward the more capital-intensive ones in a continuous inverse-V-shaped pattern: As...

Innovation Spaces in Asia provides insight into how and why Asia is poised to impact global innovation. Asia is undergoing rapid developments in markets, sources of technology and user preferences. A key characteristic of the book is the rich empirical understanding of the dynamic processes,...

In this paper, we first examine empirically the Balassa-Samuelson effect in the presence of structural change. Using cross-country data on per capita income, price level and employment shares by sector, we find that a country’s tradable sector’s share of employment is a more...

Motivated by China's experience, a growth model is developed to explain the repeated interaction between economic reforms and growth in a developing country. Convergence occurs until the developing country reaches a bottleneck, then convergence stops unless the institution is improved. After the...

This paper contributes to the understanding of China's urban development by examining the institutional structure of a property market in an inland city: Chongqing. Data were collected from three recent projects through field reconnaissance and interviews. A framework of institutional analysis...

We develop a model in which asymmetric information gives rise to both problems of adverse selection and costly state verification. Under the separating equilibrium in the credit market, some borrowers are credit rationed. We consider three types of government subsidies: interest rate subsidy,...

ERES:conference

As required by the Energy Policy Act of 2005, utility companies across the U.S. are offering TOU (time-of-use) based electricity demand response programs. The TOU rate gives consumers opportunities to manage their electricity bill by shifting use from on-peak periods to mid-peak and off-peak...

In this paper a highly efficient solar concentrating mirror is presented. A part of the aspherical cylinder's inner wall defined by a set of specific coefficients a2, a4, a6, a8, a10, a12, a14, a16 and C is used as reflective surfaces of concentrating mirror. Based on the particular aspherical...