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This working paper reviews recent empirical evidence on large firms and nonproductive strategies that hinder creative destruction and reallocation. The focus is on three types of nonproductive strategies: political connections, nonproductive patenting, and anticompetitive acquisitions. Across...
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This paper investigates the impact of ownership type on the entire growth rate distributional mass of Chinese firms, using a conditional estimation approach of the Asymmetric Exponential Power (AEP) density that goes beyond simple location-shift analysis. We first find a Chinese growth puzzle,...
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This paper evaluates the effect of development project aid from the World Bank and China on firms' sales growth, using …
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the China's miracle, we find that HG firms outperform other firms, showing higher productivity, higher profitability …
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