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We use firm-level data to identify financial frictions in China and explore the extent to which they can explain firms … develop a heterogeneous-firm model with two types of financial frictions, default risk, and a fixed cost of issuing loans. Our …
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We use firm-level data to identify financial frictions in China and explore the extent to which they can explain firms … develop a heterogeneous-firm model with two types of financial frictions, default risk, and a fixed cost of issuing loans. Our …
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