Financial constraints in China: Firm-level evidence

Sandra Poncet (), Walter Steingress and Hylke Vandenbussche

China Economic Review, 2010, vol. 21, issue 3, 411-422

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 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").

Keywords: Investment-cash; flow; sensitivity; China; Firm-level; data; Foreign; direct; investment (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (198)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1043-951X(10)00023-4
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Financial constraints in China: firm-level evidence (2010)
Working Paper: Financial Constraints in China: Firm-Level Evidence (2009)
Working Paper: Financial Constraints in China: Firm-Level Evidence (2009)
Working Paper: Financial constraints in China: firm-level evidence (2009)
Working Paper: Financial constraints in China: firm-level evidence (2008)
Working Paper: Financial constraints in China: firm-level evidence (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:chieco:v:21:y:2010:i:3:p:411-422

Access Statistics for this article

China Economic Review is currently edited by B.M. Fleisher, K. X. D. Huang, M.E. Lovely, Y. Wen, X. Zhang and X. Zhu

More articles in China Economic Review from Elsevier
Bibliographic data for series maintained by Catherine Liu ().