This paper examines the role of political affiliation in the extension of trade credit by Chinese firms. Using a data-set of over 70,000 firms over the period 2000-2007, we find that, because they benefit from easier access to short-term external funding, politically affiliated firms can extend...

This paper examines the role of political affiliation in the extension of trade credit by Chinese firms. Using a dataset of more than 70,000 firms over the period 2000-2007, we find that, because they benefit from easier access to short-term external funding, politically affiliated firms can...

The currency crises of the 1990s all exhibit a divergence of the nominal and the real exchange rate together with an increase in the negative current account. The nominal rate does not reflect inflation differences fully and the ensuing real appreciation leads to a negative current account. This...