We evaluate the impact of the last Chinese anti-corruption campaign (ACC) on firms’ investment. We exploit the sudden and abnormal surge in the rate of “Tigers” investigations due to the increase in anti-corruption monitoring. This change led to an overall decrease in investment of private...

We empirically estimate a model of Chinese college admissions to understand the factors that drive the unequal geographical distribution of of elite college places in China. We find that elite Chinese universities have remarkably similar preferences. But, contrary to popular beliefs, there is...