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Finance and Inequality
The study examines empirical relationships between income inequality and three features of finance: depth (financial sector size relative to the economy), inclusion (access to and use of financial services by individuals and firms), and stability (absence of financial distress). Using new data covering a wide range of countries, the analysis finds that the financial sector can play a role in reducing inequality, complementing redistributive fiscal policy. By expanding the provision of financial services to low-income households and small businesses, it can serve as a powerful lever in helping create a more inclusive society but—if not well managed—it can amplify inequalities.
The Dreaming Mind and the End of the Ming World
From the mid-sixteenth through the end of the seventeenth century, Chinese intellectuals attended more to dreams and dreaming—and in a wider array of genres—than in any other period of Chinese history. Taking the approach of cultural history, this ambitious yet accessible work aims both to describe the most salient aspects of this “dream arc” and to explain its trajectory in time through the writings, arts, and practices of well-known thinkers, religionists, litterateurs, memoirists, painters, doctors, and political figures of late Ming and early Qing times. The volume’s encompassing thesis asserts that certain associations of dreaming, grounded in the neurophysiology of the human ...
People's Republic of China-Hong Kong Special Administrative Region
This 2019 Article IV Consultation with People’s Republic of China—Hong Kong Special Administrative Region (SAR) discusses that the economy is projected to start recovering next year, but the pace is expected to be gradual and both near- and medium-term risks have increased significantly, including from trade and technology tensions, ongoing social unrest, and structural challenges of insufficient housing supply and high income inequality. Hong Kong SAR is well placed to address both cyclical and structural challenges with its significant buffers thanks to its long history of prudent macroeconomic policies. Given that the fiscal framework permits deficits during economic downturns, government spending should be increased significantly in the areas of social safety nets, education/retraining, and infrastructure to cope with the cyclical downturn and address structural challenges of insufficient housing and high-income inequality. This should be complemented with measures to ensure fiscal sustainability and greater equity.
Zhao Ziyang and China's Political Future
What legacies have previous reformers like Zhao Ziyang left to today’s China? Does China have feasible political alternatives to today’s repressive ‘market Leninism’ and corrupt ‘state capitalism’? Does Zhao’s legacy indicate an alternative to the past and for the future? For those who are familiar with the development of Chinese politics since the reform years, Zhao is now widely regarded as a major architect of the nation’s profound transition. His contributions to China’s post-Mao development are rich and multi faceted, including those on rural and urban economic reforms extending to accountable governance, liberal policies concerning domestic affairs and China’s forei...
Chinese Architecture
This book provides an illustrated introduction to Chinese architecture, a reference for modern design and a window into China's history.
France
This technical note on nonfinancial corporations and households vulnerabilities on France analyzes the structure of nonfinancial corporate financing in the French economy, potential vulnerabilities of the corporate sector, and their possible channels of transmission through interconnections with the financial system. The objective of this paper is to document the evolution of French corporate debt since the global financial crisis, analyze the riskiness of this debt, the quality of allocation of this debt, and uncover potential heterogeneity across sectors and firms which may have implications at the macroeconomic level. This paper also complements existing studies by the Institut National de la Statistique et des Études Économiques, the Haut Conseil de Stabilité Financière and the Banque de France by undertaking a cross-country comparative analysis. Empirical analysis suggests that corporate debt may be allocated efficiently across publicly listed companies, but the picture is less clear among nonpublicly listed firms.
Digital Forensics and Watermarking
This book constitutes the revised post-conference proceedings of the 15th International Workshop on Digital Forensics and Watermarking, IWDW 2016, held in Beijing, China, in September 2016. The 45 papers presented in this volume were carefully reviewed and selected from 70 submissions. The contributions are organized in topical sections on digital forensics, visual cryptography, reversible data hiding, and steganography and steganalysis.
The Tradition and Modern Transition of Chinese Law
The book was first published in 1997, and was awarded the first prize of scientific research by the Ministry of Justice during the ninth Five-Year Plan of China. In 2005, it was adopted the text book for the postgraduates of law majors. In 2009, it was awarded the second prize of the best books on law in China. The book discusses from different aspects the long legal tradition in China, and it not only helps us to have a further understanding of Chinese legal system but also combines theories and practice and illustrate the modern legal transition which probes the history of Chinese legal system. As is known to us all, China is a country with a long legal history, which can be traced back to...
