Financial constraints in China: firm-level evidence

Financial constraints in China: firm-level evidence

This paper uses a unique micro-level data-set on Chinese firms to test for the existence of a "political-pecking order" in the allocation of credit. Our findings are threefold. Firstly, private Chinese firms are credit constrained while State-owned firms and foreign-owned firms in China ar...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Discussion paper series 226/2008 2009, p.1-26
Hauptverfasser: Poncet, Sandra, Steingress, Walter, Vandenbussche, Hylke
Format: Report
Sprache:eng
Online-Zugang:Volltext bestellen
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
container_end_page 26
container_issue
container_start_page 1
container_title Discussion paper series 226/2008
container_volume
creator Poncet, Sandra
Steingress, Walter
Vandenbussche, Hylke
description This paper uses a unique micro-level data-set on Chinese firms to test for the existence of a "political-pecking order" in the allocation of credit. Our findings are threefold. Firstly, private Chinese firms are credit constrained while State-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"). Therefore it seems that ongoing restructuring of the state-owned sector and further liberalization of foreign capital inflows in China can help to circumvent financial constraints and can boost the investment of private firms.
format Report
fullrecord <record><control><sourceid>kuleuven_FZOIL</sourceid><recordid>TN_cdi_kuleuven_dspace_123456789_219268</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>123456789_219268</sourcerecordid><originalsourceid>FETCH-kuleuven_dspace_123456789_2192683</originalsourceid><addsrcrecordid>eNrjZDB2y8xLzEvOTMxRSM7PKy4pSszMKylWyMxTcM4AylgppGUW5ermpJal5iiklmWmpOYlp_IwsKYl5hSn8kJpbgZ1N9cQZw_d7NKc1NKy1Lz4lOKCxOTUeEMjYxNTM3MLy3gjQ0sjMwtjbgZt4lTGl1SUGBNvLgAEhT1z</addsrcrecordid><sourcetype>Institutional Repository</sourcetype><iscdi>true</iscdi><recordtype>report</recordtype></control><display><type>report</type><title>Financial constraints in China: firm-level evidence</title><source>Lirias (KU Leuven Association)</source><creator>Poncet, Sandra ; Steingress, Walter ; Vandenbussche, Hylke</creator><creatorcontrib>Poncet, Sandra ; Steingress, Walter ; Vandenbussche, Hylke</creatorcontrib><description>This paper uses a unique micro-level data-set on Chinese firms to test for the existence of a "political-pecking order" in the allocation of credit. Our findings are threefold. Firstly, private Chinese firms are credit constrained while State-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"). Therefore it seems that ongoing restructuring of the state-owned sector and further liberalization of foreign capital inflows in China can help to circumvent financial constraints and can boost the investment of private firms.</description><language>eng</language><publisher>Leuven: KULeuven LICOS</publisher><ispartof>Discussion paper series 226/2008, 2009, p.1-26</ispartof><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>315,780,4490,27860</link.rule.ids><linktorsrc>$$Uhttps://lirias.kuleuven.be/handle/123456789/219268$$EView_record_in_KU_Leuven_Association$$FView_record_in_$$GKU_Leuven_Association$$Hfree_for_read</linktorsrc></links><search><creatorcontrib>Poncet, Sandra</creatorcontrib><creatorcontrib>Steingress, Walter</creatorcontrib><creatorcontrib>Vandenbussche, Hylke</creatorcontrib><title>Financial constraints in China: firm-level evidence</title><title>Discussion paper series 226/2008</title><description>This paper uses a unique micro-level data-set on Chinese firms to test for the existence of a "political-pecking order" in the allocation of credit. Our findings are threefold. Firstly, private Chinese firms are credit constrained while State-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"). Therefore it seems that ongoing restructuring of the state-owned sector and further liberalization of foreign capital inflows in China can help to circumvent financial constraints and can boost the investment of private firms.</description><fulltext>true</fulltext><rsrctype>report</rsrctype><creationdate>2009</creationdate><recordtype>report</recordtype><sourceid>FZOIL</sourceid><recordid>eNrjZDB2y8xLzEvOTMxRSM7PKy4pSszMKylWyMxTcM4AylgppGUW5ermpJal5iiklmWmpOYlp_IwsKYl5hSn8kJpbgZ1N9cQZw_d7NKc1NKy1Lz4lOKCxOTUeEMjYxNTM3MLy3gjQ0sjMwtjbgZt4lTGl1SUGBNvLgAEhT1z</recordid><startdate>2009</startdate><enddate>2009</enddate><creator>Poncet, Sandra</creator><creator>Steingress, Walter</creator><creator>Vandenbussche, Hylke</creator><general>KULeuven LICOS</general><scope>FZOIL</scope></search><sort><creationdate>2009</creationdate><title>Financial constraints in China: firm-level evidence</title><author>Poncet, Sandra ; Steingress, Walter ; Vandenbussche, Hylke</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-kuleuven_dspace_123456789_2192683</frbrgroupid><rsrctype>reports</rsrctype><prefilter>reports</prefilter><language>eng</language><creationdate>2009</creationdate><toplevel>online_resources</toplevel><creatorcontrib>Poncet, Sandra</creatorcontrib><creatorcontrib>Steingress, Walter</creatorcontrib><creatorcontrib>Vandenbussche, Hylke</creatorcontrib><collection>Lirias (KU Leuven Association)</collection></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext_linktorsrc</fulltext></delivery><addata><au>Poncet, Sandra</au><au>Steingress, Walter</au><au>Vandenbussche, Hylke</au><format>book</format><genre>unknown</genre><ristype>RPRT</ristype><atitle>Financial constraints in China: firm-level evidence</atitle><jtitle>Discussion paper series 226/2008</jtitle><date>2009</date><risdate>2009</risdate><spage>1</spage><epage>26</epage><pages>1-26</pages><abstract>This paper uses a unique micro-level data-set on Chinese firms to test for the existence of a "political-pecking order" in the allocation of credit. Our findings are threefold. Firstly, private Chinese firms are credit constrained while State-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"). Therefore it seems that ongoing restructuring of the state-owned sector and further liberalization of foreign capital inflows in China can help to circumvent financial constraints and can boost the investment of private firms.</abstract><cop>Leuven</cop><pub>KULeuven LICOS</pub><oa>free_for_read</oa></addata></record>
fulltext fulltext_linktorsrc
identifier
ispartof Discussion paper series 226/2008, 2009, p.1-26
issn
language eng
recordid cdi_kuleuven_dspace_123456789_219268
source Lirias (KU Leuven Association)
title Financial constraints in China: firm-level evidence
url https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-07T18%3A35%3A20IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-kuleuven_FZOIL&rft_val_fmt=info:ofi/fmt:kev:mtx:book&rft.genre=unknown&rft.atitle=Financial%20constraints%20in%20China:%20firm-level%20evidence&rft.jtitle=Discussion%20paper%20series%20226/2008&rft.au=Poncet,%20Sandra&rft.date=2009&rft.spage=1&rft.epage=26&rft.pages=1-26&rft_id=info:doi/&rft_dat=%3Ckuleuven_FZOIL%3E123456789_219268%3C/kuleuven_FZOIL%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_id=info:pmid/&rfr_iscdi=true