Based on the example of the automobile and electronics sector in China, the article examines the technological learning of companies in China and the way it is influenced by industrial policy. Companies have consolidated their production capacity and technological learning but are rarely in the...

This paper shows that collateral constraints restrict firm entry and post-entry growth, even in the long-run. We use French administrative data and exploit cross-sectional variation in local house-price appreciation as shocks to the value of collateral available to homeowners. We control for...