Agarwal, Natasha; Milner, Chris; Riaño, Alejandro - In: Journal of Banking & Finance 48 (2014) C, pp. 261-275
This paper examines whether credit constraints affect Chinese firms’ absorption of productivity spillovers originating from the activity of foreign-owned firms. Using firm-level data for 2001–2005, we find evidence of positive spillovers originating from foreign-owned firms from countries...