Using a large panel dataset of Chinese industrial firms, we find that poorly performing SOEs were more likely to redistribute credit to firms with less privileged access to loans via trade credit. While that could be consistent with the efficient redistribution of credit, it is more likely that...

This paper examines the progress of state-owned enterprise (SOE) reform in the People's Republic of China. After defining SOEs and considering their scope of operation within the PRC economy, the focus of the paper is on the major reform waves that followed the deterioration of SOE profitability...

Investment statistics of the People's Republic of China are a source of many puzzles. Some investment data are of dubious quality, while the particular concepts of investment and their changing definitions over time are often poorly understood. Fixed asset investment, a remnant of the planned...

Economic development of a remote, mountainous region is a challenge for any country. This paper examines how this development challenge has been addressed in a high-altitude backward region of the People's Republic of China. Is this region increasingly being left behind or has it entered a...

Industrial policies are widely credited with upgrading the economic structure of the People's Republic of China (PRC) and advancing its economy towards and beyond the current technological frontier. Yet the data suggest that the PRC's economy-wide investment patterns - with investment embodying...

The investment-intensive growth model of the People's Republic of China (PRC) is often viewed as state-driven and ultimately unsustainable. But largely unnoticed, a shift has taken place. This paper examines the changes in investment patterns since 2003 and the potential impact of industrial...