Huang, Yasheng; Ma, Yue; Yang, Zhi; Zhang, Yifan - 2008 - This draft: August 1, 2008
Using a large firm-level panel dataset from the Chinese National Bureau of Statistics, we examine the effect of … financial distortions on FDI inflows in China's labor-intensive industries. Following Whited and Wu (2006), we estimate the … political pecking order hypothesis that states that there is a severe lending bias in China's financial system against private …