The article discusses how capital accumulation has driven China's transition towards capital-intensive industries, while labor-biased productivity growth has helped China maintain a competitive edge in labor-intensive sectors.
This article explores the intriguing connection between Chinese zodiac signs and parental investment in children’s development. Particularly, parents invest more in children born under the “lucky” sign of the dragon, potentially impacting their cognitive and noncognitive skills alike.
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.
The article reveals that the rise of shadow banking in China stems from the intensification of deposit competition after the global financial crisis, and analyzes the threat of small and medium-sized banks' disadvantage in this competition to the overall financial system.
The prevalent implicit guarantees provided by financial intermediaries have been a central feature of shadow banking products in China. Our theoretical investigation shows that providing implicit guarantees can be the second-best arrangement and mitigate capital misallocation.