. As an important counterexample, although China has one of the world's fastest-growing economies, its legal and financial … systems are underdeveloped. With evidence from China, the author confirms that government intervention positively and causally … determines firms' access to credit. He further provides evidence that government intervention enables firms’ profit through …

-service-to-income ratios, in affecting developments in house prices and credit. We use data on 99 lending standard restrictions implemented in … house prices and credit. However, the impact is delayed and reaches its peak only after three years. In addition, the impact …