the allocation and impacts of innovation subsidies, using the data from the China Employer Employee Survey (CEES). We find … that the innovation subsidies are preferentially allocated to state owned firms and politically connected firms. Of these … also find that the firms that receive innovation subsidies file and receive more patents, are more likely to introduce new …

Governments are important financiers of private sector innovation. While these public funds can ease capital … China, where a quarter of firms' R&D expenditures come from government subsidies. Using a difference-in-differences approach … for innovation programs strengthened the relationship between firms' historical innovative efficiency and subsequent …

How do innovation and education policy affect individual career choice and aggregate productivity? This paper analyzes … about the links between talent, higher education, and innovation. We use these facts to calibrate the model and study … combined with higher education policy that alleviates financial frictions for talented youth. Education and innovation policies …

This paper studies the connection between share pledging and entrepreneurial activities in China, challenging the …

study a subsidy program design that mitigates such price increases by making products' eligibility for a subsidy dependent … eligibility mitigates the price increases arising from the subsidy and even leads to a reduction in prices for some products. It … improves consumer and total surpluses while limiting government subsidy payments …

The majority of state-owned enterprises (SOEs) in China were privatized through ownership reforms over the last two … decades. Using a comprehensive dataset of all medium and large enterprises in China between 1998 and 2013, we show that …