As a result of reforms and financial sector development, the People’s Bank of China (PBoC) now exerts significant control over money market interest rates. With money market conditions increasingly influencing effective commercial lending rates, the PBoC is also able to affect the cost of...

As a result of reforms and financial sector development, the People’s Bank of China (PBoC) now exerts significant control over money market interest rates. With money market conditions increasingly influencing effective commercial lending rates, the PBoC is also able to affect the cost of...

This paper examines the pollution control policies applied in China¡¯s paper industry during the period of economic reform from 1982 to 1992. The paper industry is the source of ten percent of China¡¯s industrial wastewater emissions and one-fourth of its chemical oxygen demand. It is the...

The capture and permanent storage of CO2 emissions from coal combustion is now widely viewed as imperative for stabilization of the global climate. Coal is the world’s fastest growing fossil fuel. This trend presents a forceful case for the development and wide dissemination of technologies...

Government intervention and firm dynamics are crucial for long-run growth. In this paper, we study the persistent effects of one of the largest state-led industrialization projects in human history---namely the Third-Front (TF) construction project---on firm dynamics: entry, exit, and...

We employ the “social conditions of innovative enterprise” framework to analyze the key determinants of China’s development path from the economic reforms of 1978 to the present. First, we focus on how government investments in human capabilities and physical infrastructure provided...

This research work aims to verify how military expen- diture promotes economic growth and industrial productivi- ty, as suggested by the Military Keynesianism postulate. The NARDL method is employed to achieve the above objective on the panel data of India, China, and Pakistan, covering the...