Catching Up to America: Culture, Institutions, and the Rise of🔸快乐10分玩法说明, Cambridge University Press, 2021 (






“Deflating🔸快乐10分玩法说明’s Nominal GDP: 2004-2018” (with Pingyao Lai), China Economic Review, forthcoming.

“Market Facilitation by Local Government and Firm Efficiency: Evidence from🔸快乐10分玩法说明” (with Robert Cull, Lixin Colin Xu, Xi Yang and Li-An Zhou), Journal of Corporate Finance, 42, 460-480, 2017.

"Optimality of the 51: 49 Equity Structure" (with Susheng Wang), Economics Letters, 145, 270-273, 2016.

“How Much Can We Trust🔸快乐10分玩法说明’s Investment Statistics?” (with Fang Liu and Jun Zhang), Journal of Chinese Economic and Business Studies, 14(3), 215-228, 2016.

Reestimating China’s Underestimated Consumption” (with Jun Zhang), Comparative Economic Studies57 (1), 55-74, 2015. (Winner of the Bergson Prize awarded by the Association for Comparative Economic Studies in 2017.)

 “Foreign Direct Investment under a Weak Rule of Law: Theory and Evidence from🔸快乐10分玩法说明” (with Xiaozu Wang and Lixin Colin Xu), Economics of Transition, 20(3), 2012, 401-424.

“Formal Finance and Trade Credit during🔸快乐10分玩法说明’s Transition” (with Robert Cull and Colin Xu), Journal of Financial Intermediation, 18(2), 2009, 173-192.

“Control Allocation, Revenue Sharing and Joint Ownership” (with Susheng Wang), International Economic Review, 46(3), 2005, 895-915.

“Politician Control, Agency Problems, and Ownership Reform: Evidence from🔸快乐10分玩法说明” (with L. Colin Xu and Yimin Lin), Economics of Transition, 13(1), 2005, 1-24.

 “Incentive Intensity, Forbearance Law, and the Governance of Transactions,” Industrial and Corporate Change, Special Issue in Honor of Oliver E. Williamson, 13(6), 2004, 855-866.

“State-Owned Enterprises Going Public: The Case of🔸快乐10分玩法说明” (with Xiaozu Wang and L. Colin Xu), Economics of Transition, 12(3), 2004, 467-487.

“Specific Investments, Flexible Adaptation, and Requirement Contracts,” Economic Inquiry, 41(2), 2003, 299-304.

“Ownership Restructuring in Chinese State Industry: An Analysis of Evidence on Initial Organizational Changes” (with Yimin Lin), China Quarterly, 166, 2001, 305-341.

 “Holdups, Simple Contracts and Information Acquisition,” Journal of Economic Behavior and Organization42(4), 2000, 549-560.

 “Agency and Self-Enforcing Contracts” (with Zhigang Tao), Journal of Comparative Economics28(1), 2000, 80-94.

“Institutional Imperfection and Transition Strategies” (with Xinghai Fang), Economic Systems23(4), 1999, 331-348.

“China’s Corporatization Drive: An Evaluation and Policy Implications,” Contemporary Economic Policy17(4), 1999, 530-539.

 “A Theory of Contract and Ownership Choice in Public Enterprises under Reformed Socialism: The Case of China’s TVEs,” China Economic Review9(1), 1998, 59-71.





 “Investment, Reforms Key to Growth This Decade,” China Daily, January 6, 2020.       




 “Will🔸快乐10分玩法说明's Educational System Strangle Economic Growth?Forbes, May 16, 2016.


“中国增长之谜:是制度还是文化?” 观察者网2015416日。

“中国创新不足吗?” FT中文网20141222日。


 “Abandon the Myth of the Reluctant Chinese Shopper” (with Zhang Jun), Financial Times, January 15, 2013.


被误读的凯恩斯理论” (与张军合著),《经济观察报》,2012924日。




 “An Open Financial Sector Helps🔸快乐10分玩法说明” (with Shan Li), Asian Wall Street JournalApril 30-May 1, 1999.

  “China, Too, Faces Financial Perils” (with Shan Li), Wall Street JournalOctober 28, 1998.