We examine the effect of large-scale administrative reorganization in China, where counties are annexed into cities to accommodate urban growth.
Local fiscal policies have been very effective in China since 2000.
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.
In 2015, China revamped its pharmaceutical regulations, drawing inspiration from the US, to accelerate drug approvals. Using data at the drug and firm levels during 2011–2021, this study reveals three key outcomes.
In China, citizen participation in environmental governance via social media could significantly improve regulatory effort, leading to substantial environmental benefits.