-the-big-and-letting-go-the-small' privatization program in China. Our empirical results suggest that government connections play an important role in explaining …We examine the role of firms' government connections, defined by government intervention in CEO appointment and the … government connections are associated with substantially less severe financial constraints (i.e., less reliance on internal cash …

-the-big-and-letting-go-the-small' privatization program in China. Our empirical results suggest that government connections play an important role in explaining …We examine the role of firms' government connections, defined by government intervention in CEO appointment and the … government connections are associated with substantially less severe financial constraints (i.e., less reliance on internal cash …

subsequent productivity than did direct government transfers. We find that it did, at least in the 1980s, and conclude that bank …. Banks imposed harder budget constraints on SOEs than bureaucrats, but those constraints softened as the 1990s progressed. As …

Weak institutions ought to deter foreign direction investment (FDI), and mass media stories highlight China …'s institutional deficiencies, yet China is now one of the world's largest FDI destinations. This incongruity characterizes China …'s paradoxical growth. Cross-country regressions show that China's FDI inflow is not exceptionally large, given the quality of its …