Using detailed cross-section data for 1995, non-Chinese MNEs are found to generate technological and international market access spillover benefits for Chines firms, while overseas Chinese investors confer only market access benefits. State-owned enterprises reap no benefits, and indeed receive...

A large legal and economic literature describes how state-owned enterprises (SOEs) suffer from a variety of agency and political problems. Less theory and evidence, however, have been generated about the reasons why state-owned enterprises listed in stock markets manage to attract investors to...

Foreign direct investment (FDI) may benefit local firms in the host country through various kinds of spillovers, but it may also raise competition and result in the crowding out of domestic firms. Using detailed firm-level data for the period 2001–2008, this paper examines the aggregate effect...