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Government-Directed Urban Growth, Firm Entry, and Industrial Land Prices in Chinese Cities

Jan K. Brueckner, Wenhua Liu, Wei Xiao, Junfu Zhang, May 17, 2023

We examine the effect of large-scale administrative reorganization in China, where counties are annexed into cities to accommodate urban growth.

China’s Health Insurance Evolution: Unpacking the Monumental Role of the NCMS

Jonathan Gruber, Mengyun Lin, Junjian Yi, Jul 31, 2024

This article discusses that the New Cooperative Medical Scheme (NCMS) implemented in China from 2003 to 2008 significantly reduced mortality rates among rural residents and greatly enhanced national health outcomes, serving as a model for developing countries in achieving universal health coverage.

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.

Fiscal Stimulus, Deposit Competition, and the Rise of Shadow Banking: Evidence from China

Viral V. Acharya, Jun Qian, Yang Su, Zhishu Yang, Apr 24, 2024

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.

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.