A Bridge on Economic Issues between China and the World
Facebook 
Twitter 
Instagram
WeChat 
Email Most Popular
The Dynamic Effects of Computerized VAT Invoices on Chinese Manufacturing Firms
Haichao Fan, Yu Liu, Nancy Qian, Jaya Wen, Aug 08, 2018This investigation uses a balanced panel of large manufacturing firms to provide novel evidence on the dynamic effects of computerizing VAT invoices on tax revenues and firm behavior in China, 1998-2007. We find that computerization increases cumulative VAT revenues and increases the effective average tax rate. Furthermore, the evidence suggests that the effects of computerization change over time: tax revenue gains are likely to be smaller in the long run. Meanwhile, firms reduce output and input, and increase productivity monotonically over time.
China’s Rebalancing: Recent Progress, Prospects, and Policies
Rui C. Mano, Jiayi Zhang, Mar 20, 2019While China’s growth gathered momentum in 2017, rebalancing was uneven and decelerated along many dimensions reflecting the temporary factors behind the growth pickup. Going forward, rebalancing is expected to proceed as these temporary factors recede, but elevated income inequality and leverage will remain a challenge. The authorities are...
Bright Side of Government Credit: Evidence from a Superbank in China
Hong Ru, May 09, 2018This study traces the heterogeneous effects of government credit across different levels of the supply chain. I find that China Development Bank's industrial loans to state-owned enterprises crowd out private firms in the same industry but crowd in private firms in downstream industries. Moreover, China Development Bank's infrastructure loans crowd in private firms. It is important for policy makers to disentangle these opposing effects of government credit.
Growing like China: Firm Performance and GVC Position
Davin Chor, Kalina Manova, Zhihong Yu, Apr 14, 2021We use firm-level customs and manufacturing survey data, together with Input-Output tables for China, to examine how Chinese firms position themselves in global production lines. We document a sharp rise in the upstreamness of China’s imports, while the positioning of its exports has remained relatively stable, over the 1992-2014 period. Participation in global value chains thus appears to have facilitated an...
Do CEOs Know Best? Evidence from China
Nicholas Bloom, Hong Cheng, Mark Duggan, Hongbin Li, Franklin Qian, Jan 30, 2019Using data from the China Employer-Employee Survey (CEES), a recent survey of Chinese manufacturing firms, we analyze the extent to which employees of differing levels are able to assess their firms’ management practices. Our study finds that of CEOs, managers, and workers, CEOs tend to have the most accurate appraisals of their firms. Additionally, we find that firms with higher levels of disagreement...
