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Tournament-Style Political Competition and Local Protectionism: Theory and Evidence from China

Hanming Fang, Ming Li, Zenan Wu, Feb 22, 2023

Inter-jurisdictional competition in a regionally decentralized authoritarian regime distorts local politicians’ incentives in resource allocation among firms from their own city and a competing city.

Bond for Employment: Evidence from China

Yi Huang, Shu Lin, Haichun Ye, Feb 15, 2023

Using the unique institutional feature of government regulations in China, we provide robust evidence that firms with a larger employment size have significantly better access to bond credit.

BigTech Credit and Monetary Policy Transmission

Yiping Huang, Xiang Li, Han Qiu, Changhua Yu, Dec 07, 2022

By comparing business loans made by a BigTech bank with those made by traditional banks, this study finds that BigTech loans tend to be smaller, and the BigTech lender is more likely to grant credit to new borrowers than conventional banks in response to expansionary monetary policy.

Microgiving with Digital Platforms

Xiheng Jiang, Jianwei Xing, Jintao Xu, Eric Zou, Nov 30, 2022

“Microgiving,” a new model of fundraising made possible by digital technologies, is premised on the notion that charities can raise substantial funds by soliciting minuscule donations from many individuals.

Internationalizing Like China

Chris Clayton, Amanda Dos Santos, Matteo Maggiori, Jesse Schreger, Feb 08, 2023

China’s strategy for internationalizing the renminbi involves controlling the access of foreign investors to the domestic bond market.