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Industry/Policy View Derisking Real Estate in China’s Hybrid Economy

Wei Xiong, Jun 28, 2023

We investigate the relationship between the allocation of government subsidies and total factor productivity for Chinese listed firms.

Industry/Policy View Banking Across Borders: Are Chinese Banks Different?

Eugenio Cerutti, Cathérine Koch, Swapan-Kumar Pradhan, Feb 24, 2021

Chinese banks have become the largest cross-border lenders to emerging markets and developing economies (EMDEs). Despite their different ownership structure, their type of global reach resembles that of advanced economies’ (AE) banks, with distance to their borrowing EMDEs less of a barrier than that of other EMDE banks and more like U.S. or European banks. While bilateral trade, FDI, and portfolio investment...

The Real Driver of China’s Growth: Internal Economic Reform

Trevor Tombe, Xiaodong Zhu, Apr 03, 2019

Many people have attributed China’ s growth since 2001 to its accession to WTO and the resulting rapid export expansion. We provide quantitative evidence showing that internal economic reform, not export expansion, was the real driver of China’ s growth in the period after 2001. We also show that there is still large potential growth from further internal reform in China.

Resolving China’s Corporate Debt Problem

Wojciech S. Maliszewski, Serkan Arslanalp, John Caparusso, José M. Garrido, Si Guo, Joong Shik Kang, W. Raphael Lam, T. Daniel Law, Wei Liao, Nadia Rendak, Philippe Wingender, Jiangyan Yu, Longmei Zhang, Sep 06, 2017

Corporate credit growth in China has been excessive. The debt problem should be addressed urgently with a comprehensive strategy, trading short-term economic pain for larger longer-term gain.

Regional Variation of GDP per Head within China, 1080–1850: Implications for the Great Divergence Debate

Stephen Broadberry, Hanhui Guan, Sep 28, 2022

We provide the first regional breakdown of GDP per head for China from the Song dynasty to the Qing, so that regions of similar size can be compared between Europe and Asia to establish the timing of the Great Divergence of living standards.