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The national trunk highway system (NTHS), consisting of five vertical and seven horizontal national trunk highways, is taken as a natural experiment to study the impact of transportation infrastructure on firm productivity. It is found that the NTHS has led to the agglomeration of production...
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Using a dataset of listed non-state-owned enterprises in China, we show that politically connected firms have a greater difficulty in obtaining trade credit than non-connected firms. This credit discrimination against politically connected firms strengthens when firms locate in regions with...
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