Chen, Yu-Fu; Funke, Michael; Tao, Kunyu - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2015
This paper analyses the financial distortions – growth nexus in China using a tractable general equilibrium modelling approach in which heterogeneous private and state-owned firms interact. The focal points of the model are financial frictions and reallocations of factors of production across...