We provide a comprehensive review of China's financial system, and explore directions of
future development. First, the financial system has been dominated by a large banking …

We provide a review of China's financial system and consider the challenges it faces and
future reforms. The formal sectors of the financial system, which include a fast-growing stock …

The paper exploits a unique Chinese municipal dataset to assess the impact of Special
Economic Zones on the local economy. Comparing the changes between the municipalities …

We construct a growth model consistent with China's economic transition: high output
growth, sustained returns on capital, reallocation within the manufacturing sector, and a …

This book challenges the mainstream paradigm, based on the inter-temporal optimisation of
welfare by individual agents. It introduces a methodology for studying how it is institutions …

The literature on the benefits and costs of financial globalization for developing countries
has exploded in recent years, but along many disparate channels with a variety of …

We investigate whether financial development benefits from financial globalisation are
questionable until certain thresholds of financial globalisation are attained. The empirical …

This paper compares the importance of precautionary and mercantilist motives in the
hoarding of international reserves by developing countries. Overall, empirical results support …

The rapid growth of international reserves, a development concentrated in the emerging
markets, remains a puzzle. In this paper, we suggest that a model based on financial stability …

The literature on the benefits and costs of financial globalization for developing countries
has exploded in recent years, but along many disparate channels with a variety of …