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Using the efficiency of capital allocation function to characterize the stock market system efficiency.Using panel data analysis method,from a regional perspective empirical analysisto implement the stock market during the capital allocation function efficiency issue approval system for China.The results show: the efficiency of resource allocation of China stock market is lower,and stock market...

This paper investigates whether World Bank conditionality is affected by the presence of “new” donors by using panel data for 54 African countries over the 1980 to 2013 period. Empirical results indicate that the World Bank delivers loans with significantly fewer conditions to recipient countries which are assisted by China. Less stringent conditionality is also observed in better off borrowers...

This note analyzes the asymptotic distribution for instrumental variables regression for panel data when the available instruments are weak. We show that consistency can be established in panel data.

This paper uses panel data from two new data sets on educational attainment to investigate the effects of education on several development outcomes in African countries. I find that education has a positive and significant impact on these development outcomes. I also find that different levels of education affects development outcomes differently; for some development outcomes, primary and seco...

The author empirically tests two aspects of the interaction between financial variables and inventory investment: negative cash flow and finance constraints due to asymmetric information. This is one of the first studies of inventory investment and finance constraints using Canadian data. A sample of Canadian manufacturing firms over the period 1992Q2–1999Q4 is split into subsamples based on ag...