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Working Paper
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The informal sector has long been viewed as a locus of the disadvantaged, unskilled, and inexperienced workers in under-developed and developing economies. Workers in the informal sector, however, can learn skills and gain experience that could help them switch to better-paying jobs in the formal...
Working Paper
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– The Chinese Experience
This paper documents the financial and institutional developments of China during the past two decades, when China was successfully transformed from a rigid central-planning economy to a dynamic market economy following its unique path. We empirically examine the relationship between financial...
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