Sandra, PONCET; Walter, STEINGRESS; Hylke, VANDENBUSSCHE - Institut de Recherche Économique et Sociale (IRES), … - 2008
This paper uses a unique micro-level data-set on Chinese firms to test for the existence of a “political-pecking order” in the allocation of credit. Our findings are threefold. Firstly, private Chinese firms are credit constrained while State-owned firms and foreign-owned firms in China are...