Feng, Ling; Guan, Yizhong; Li, Zhiyuan - In: Frontiers of Economics in China 9 (2014) 4, pp. 661-694
This study explores how a worsening bank credit quality affects firms¡¯ entry and exit decisions (i.e., changes in the extensive margin), and how the extensive margin variation amplifies the transmission of financial and technological shocks to the real economy. Using a vector autoregression...