Poncet, Sandra; Steingress, Walter; Vandenbussche, Hylke - C.E.P.R. Discussion Papers - 2009
This paper uses a unique micro-level data-set on Chinese firms to test for the existence of a 'political-pecking order' in the allocation of credit. Our findings are threefold. Firstly, private Chinese firms are credit constrained while State-owned firms and foreign-owned firms in China are not;...