China’s photovoltaic industry developed sharply, and now it is the only country whose production covers the installed. Since R&D policy and deployment policy of China’s PV industry should not increase its production, this paper focuses on impact of investment policy, regarded as subsidy, on...

China is perceived to rely on subsidizing firms in targeted industries to improve their performance and stay competitive. We implement an approach that allows for the joint estimation of direct and indirect effects of subsidies on subsidized and non-subsidized firms. We find that firms that...

China is perceived to rely on subsidizing firms in targeted industries to improve their performance and stay competitive. We implement an approach that allows for the joint estimation of direct and indirect effects of subsidies on subsidized and non-subsidized firms. We find that firms that...