Financial constraints in China : firm-level evidence ♠

@inproceedings{Poncet2008FinancialCI,
  title={Financial constraints in China : firm-level evidence ♠},
  author={Sandra Poncet and Walter Steingress and Hylke Vandenbussche},
  year={2008}
}
This paper uses a unique micro-level data-set on Chinese firms to test for the existence of a "political-pecking order" in the allocation of credit. Our findings are threefold. Firstly, private Chinese firms are credit constrained while State-owned firms and foreign-owned firms in China are not; Secondly, the geographical and sectoral presence of foreign capital alleviates credit constraints faced by private Chinese firms. Thirdly, geographical and sectoral presence of state firms aggravates… CONTINUE READING
Highly Cited
This paper has 40 citations. REVIEW CITATIONS

From This Paper

Figures, tables, and topics from this paper.

References

Publications referenced by this paper.
Showing 1-10 of 14 references

Internal finance and firm investment,

  • Y. Huang
  • Journal of Money, Credit & Banking,
  • 2003
Highly Influential
7 Excerpts

Credit Constraints, Heterogeneous Firms, and International Trade,

  • K. 765–791. Manova
  • Working Papers Standford University
  • 2007

Financing Decisions in Newly Privatized Chinese Firms: Does a Stock Market Quotation Really Provide Disciplining,

  • N. Huyghebaert, Q. Quan, L. Sun
  • KUL Working paper
  • 2006
1 Excerpt

Financial Factors and Investment in Belgium, France, Geramny and the United Kingdom,

  • S. Bond, A. J. Elston, J. Mairesse, B. Mulkay
  • The Review of Economics and Statistics,
  • 2003

Investment Constraints in Transition Countries,

  • J. Konings, M. Rizov, H. Vandenbussche
  • Economic Letters,
  • 2003
1 Excerpt

Similar Papers

Loading similar papers…