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Government Deleveraging and Non-SOE Liquidity Squeeze: Evidence from Subnational Debt and Government Contractors

Jiayin Hu, Songrui Liu, Yang Yao, Zhu Zong, May 15, 2024

China's deleveraging policies have inadvertently exacerbated the financial liquidity pressure on non-state-owned enterprise (non-SOE) contractors, revealing the potential adverse impact of government fiscal consolidation on private enterprises.

Exporting like China: The Determinants of Trade Status

Russell Cooper, Guan Gong, Guanliang Hu, Ping Yan, Feb 03, 2021

We study the export decision of Chinese manufacturing firms, both public and privately owned enterprises. In 2019, China’s exports of goods accounted for 13% of goods exported in the world and around 20% of China’s GDP. The importance of understanding the determinants of trade patterns in China goes beyond its national borders. Observed export decisions contradict the prediction of the standard trade model...

Who Captures the Power of Pen?

Jiaxing You, Bohui Zhang, Le Zhang, Oct 17, 2018

We study how government control affects the roles of the media as an information intermediary and a corporate monitor. Comparing a large sample of news articles written by state-controlled and market-oriented Chinese media, we find that articles by the market-oriented media are more critical, more accurate, more comprehensive, and timelier than those by the state-controlled media. Moreover, only articles by the market-oriented media have a significant corporate governance impact. Subsample analyses, interviews with journalists, and a survey of university students suggest that the market-oriented media’s superior effects are explained by their operating efficiency and independence.

Does Import Competition Harm Innovation? Evidence from Firm-level Data in China

Qing Liu, Ruosi Lu, Yi Lu, Tuan Anh Luong, Oct 06, 2021

Twenty years ago, China’s entering the World Trade Organization (WTO) was a catalyst for its economic development and propelled China into becoming one of the most important economies in the world. But massive import tariff reductions allowed more import competition, which raised concerns that innovation would be curbed. Tuan Luong, from De Montfort University, and his co-authors, Qing Liu, Ruosi Lu, and Yi Lu, discuss the impacts of import competition on domestic innovation...

Estimating the Role of Air Quality Improvements in the Decline of Suicide Rates in China

Tamma Carleton, Peng Zhang, Liguo Lin, Maigeng Zhou, Jun 19, 2024

This article discussing the correlation between reduced air pollution and lower suicide rates notes that as air pollution decreases, suicide rates also decline...