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"It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by … population, and coping with a less accommodative global environment. In this book, economists from China's leading university and … analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in …
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Employing the news-based economic policy uncertainty (EPU) Index of Baker, Bloom, and Davis (2016) and quarterly data of Chinese listed companies, we find that an increase in EPU raises the average debt-to-asset ratio of state-owned enterprises (SOEs) but lowers that of private-owned enterprises...
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