Using a unique plant-level dataset we examine total factor productivity (TFP) growth and its components, related to …

economic predicament. With an aggregate labour productivity of less than 60% relative to the rest of the country, both are true …

their productivity and net worth and face collateral constraints that cause capital misallocation. TFP endogenously depends … on the time-varying distribution of firms. Although a reduction in real rates increases misallocation in partial … equilibrium, general-equilibrium effects overturn this result: a monetary expansion increases the investment of high-productivity …

hence not a symptom of misallocation within the firm, but rather actions taken by the firm to mitigate external credit …

How costly is the misallocation of production that we might expect to result from distortions such as market power …, incomplete contracts, taxes, regulations, or corruption? This paper develops new tools for the study of misallocation that place … misallocation and to quantify the welfare losses that it causes. We then consider an application in which thousands of firms …

This study investigates the economic impact of China's "stadium diplomacy" in Sub-Saharan Africa. Exploiting the … widely held notion that China's development finance projects constitute "white elephants". …

, Chinese firm-level data from the National Bureau of Statistics of China (NBSC), and Chinese customs data strongly supports the …