Lam, W. Raphael; Schipke, Alfred; Tan, Yuyan; Tan, Zhibo - 2017
Nonviable 'zombie' firms have become a key concern in China. Using novel firm-level industrial survey data, this paper illustrates the central role of zombies and their strong linkages with stateowned enterprises (SOEs) in contributing to debt vulnerabilities and low productivity. As a group,...