China & World Economy Volume 27 Number 4 July–August 2019

Contents

Nonlinear Capital Flow Tax: Capital Flow Management and Financial Crisis Prevention in China
Jiandong Ju, Li Li, Guangyu Nie, Kang Shi, Shang-Jin Wei 1

Motivations for Loan Herding by Chinese Banks and Its Impact on Bank Performance
Hao Fang, Yen-Hsien Lee, Chung-Hua Shen, Chien-Ping Chung 29

Fiscal Subsidy Policy on Home Appliances: Its Effects on Domestic Consumption and Exports in China
Ting Ji, Ningyuan Jia, Faqin Lin, Hang Wu 53

Misallocation in Chinese Manufacturing and Services: A Variable Markup Approach
Jinfeng Ge, Jie Luo, Yangzhou Yuan 74

Regional Competition in China under the Price Distortion of Construction Land: A Study Based on a Two-regime Spatial Durbin Model
Yongjian Liu, Hong Geng 104