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We estimate the effects of privatization on zombie versus healthy state-owned enterprises (SOEs) in China, extending …
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analysis. The stylized facts differ qualitatively across different phases or economies. We argue that the impacts of China …
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allocation. We develop a two-stage estimation approach and apply it to China's loan-level data that covers all sectors in the …
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Using three unique micro datasets, we find that an unexpected and unprecedented loosening of China's LTV policy for non …
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