We provide new evidence on the causal effects of housing wealth on consumer behavior.
In China, citizen participation in environmental governance via social media could significantly improve regulatory effort, leading to substantial environmental benefits.
Local fiscal policies have been very effective in China since 2000.
The Chinese government supports the development of dozens of industries today, but the long-run sustainability of this model depends crucially on policy efficiency.
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.