We provide new evidence on the causal effects of housing wealth on consumer behavior.
In 2015, China revamped its pharmaceutical regulations, drawing inspiration from the US, to accelerate drug approvals. Using data at the drug and firm levels during 2011–2021, this study reveals three key outcomes.
The Chinese government supports the development of dozens of industries today, but the long-run sustainability of this model depends crucially on policy efficiency.
Local fiscal policies have been very effective in China since 2000.
In China, citizen participation in environmental governance via social media could significantly improve regulatory effort, leading to substantial environmental benefits.