Agarwal, Natasha; Milner, Chris; Riaño, Alejandro - 2013
This paper examines whether credit constraints affect Chinese firms' absorption of productivity spillovers from foreign … firms. Using firm-level data for 2001-2005, we find evidence of positive spillovers originating from FDI from countries … measure of credit constraints, enjoy lower (and even negative) spillovers from the activity of foreign-owned firms. This …