Trust is vital for market development, but how can trust be enhanced in a marketplace? A common view is that more trusting may help to build trust, especially in less developed economies. In this paper, we argue that more trusting may lead to less trust. We set up a rational expectation model in...

Purpose - In the current literature, there is little systematic research on the relationship among adjustment of the income distribution, change in economic structure and improvement of macroeconomic efficiency. Design/methodology/approach - This paper expands Marx's reproduction schema into the...

We investigate the deterrence effects of a firm-targeted sanction and a politician-targeted sanction deployed by Mainland China against Taiwan to deter support for “Taiwan Independence”. In the short-run, we find that the signal sent by the targeted sanctions generated deterrence to firms...

School shutdown due to the global pandemic of coronavirus disease 2019 (COVID-19) can lead to an increase in education inequality through disproportionately affecting disadvantaged children. We use data from a unique survey of 7,330 junior high school students and their parents from Shaanxi to...

Through analyzing panel data of city leaders from China, this study shows that economic performance is negatively correlated with probability of promotion if the city leader is not politically connected with provincial leader. The correlation becomes positive if the city leader establishes...