Financial constraints in China: firm-level evidence

Poncet, Sandra;Steingress, Walter;Vandenbussche, Hylke
(2010) China Economic Review — Vol. 21, n° 3, p. 411-422 (2010)

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  • Poncet, SandraUniversité Paris 1
    Author
  • Steingress, WalterBoston University
    Author
  • Vandenbussche, HylkeUCLouvain
    Author
Abstract
Using a unique micro-level data set over the period 1998-2005 on Chinese firms, this paper presents empirical findings on the presence of credit constraints. Our findings are threefold. Firstly, private Chinese firms are credit constrained white sate-owned firms and foreign-owned firms in China are not. Secondly, the geographical and sectoral presence of foreign capital alleviates credit constraints faced by private Chinese firms. Thirdly, geographical and sectoral presence of state firms aggravates financial constraints for private Chinese firms ("crowding out").
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Poncet, S., Steingress, W., & Vandenbussche, H. (2010). Financial constraints in China: firm-level evidence. China Economic Review, 21(3), 411-422. https://doi.org/10.1016/j.chieco.2010.03.001 (Original work published 2010)