countries with higher corruption norms, lower government control and effectiveness. Predictions of the level of counterfeiting …

This paper studies the urban land market in China in 2003--2007. In China, all urban land is owned by the state … sales are viewed as a major venue for corruption, prompting a number of reforms over the years. Reforms now require all … which we call a "two stage auction". The latter type of auction seems more subject to corruption, and to side deals between …

China, where a quarter of firms' R&D expenditures come from government subsidies. Using a difference-in-differences approach … subsidy awards and depressed the influence of their corruption-related expenditures. We also examine the impact of these … changes: subsidies became significantly positively associated with future innovation after the anti-corruption campaign and …

We document evidence of corruption in Chinese state asset sales. These sales involved stakes in partially privatized … with deal attributes associated with misgovernance and corruption. Sales by "disguised" owners that misrepresent their …

findings have important implications on how to effectively curb corruption …

transaction difficulties. But, such environments often also feature highly interventionist government, and even corruption … political rent seeking is substantial, firm value might rise as economy performance decays. China offers a suitable background …

We use China's recent anti-corruption campaign as a natural experiment to examine the (market expected) equilibrium … consequences of (anti-)corruption. We argue that the announcement of inspections of provincial governments by the Central … Commission for Discipline Inspection (CCDI) on May 17, 2013 represents a significant departure of past norms of anti-corruption …

China's markets gained 3.86% around December 4, 2012, when the Party announced anti-corruption reforms. State … liberalized provinces, especially those with high past ETC. These findings support investors' expect reduced official corruption …