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Local Government Financial Constraint and Spending Multiplier in China

Yang Su, Dec 28, 2022

Local fiscal policies have been very effective in China since 2000.

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.

Trade Policy Uncertainty and New Firm Entry: Evidence from China

Chuantao Cui, Leona Shao Zhi Li, Sep 20, 2023

Exploiting China’s WTO accession as a quasi-natural experiment, this study finds that reduced trade policy uncertainty (TPU) in a major destination market promotes domestic entrepreneurial activities in China

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.

Anatomy of the CNH-CNY Peg: The Crucial Role of Liquidity Policies

Saleem Bahaj, Ricardo Reis, Jun 26, 2024

This article discussing the changes in the exchange rate between the offshore yuan (CNH) and onshore yuan (CNY) help stabilize the CNY-US dollar exchange rate, but they also pose challenges to China's capital controls.