to US data. In the context of this model we argue that differences in the allocation of resources across heterogeneous …

aggregate performance. -- Firm heterogeneity ; productivity ; allocation of resources ; distortions …This paper combines different strands of the productivity literature to investigate the effect of idiosyncratic (firm …-country differences in key economic outcomes, such as productivity or output per capita, to differences in policies and institutions that …

neoclassical growth model. Investment rates and total factor productivity start out low and rise over time. These model dynamics …

; Matching ; Sectoral Productivity Shock …

our key results to alternative data sets. -- China ; investment ; growth ; productivity ; capital market distortions …