Occupational entry regulations (OER) are legal requirements people need to meet to enter certain professions. They are intended to protect consumers by ensuring providers are of sufficient quality, but can also create costs by making it harder for new workers to enter a profession or for new firms to open and grow. This paper finds...

This analysis suggests that while some aspects of monetary policy in China are beginning to resemble those observed in advanced economies, convergence is neither likely nor even desired by the authorities, given China's institutional configuration and preferred model of economic development.