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Publications (2)
Working Paper
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– Past, present, and future
China is emerging as perhaps the most globally significant development finance provider, going far beyond concessional foreign aid. With China’s initiatives to create and foster new multi-lateral finance institutions, and to work in terms of large economic landscapes in Africa, Eurasia, and Latin...
Working Paper
pdf
– Lessons from China
Using a survey of 300 state-owned enterprises (SOEs), we argue that the acceleration of inflation in China after 1984 was caused by the decentralization reforms in the state sector. These reforms allowed the SOEs to realize their innate tendencies to over-consume and over-invest. The evidence...
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