Source of Finance, Growth and Firm Size - Evidence from China

Jun Du () and Sourafel Girma

No RP2009-03, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Using a comprehensive firm-level dataset spanning the period 1998-2005, this paper provides a thorough investigation of the relationship between firm size, total factor productivity growth and financial structure in China, controlling for the endogeneity of the latter. Generally, it finds financing source matters for firms of different size, and the extent to which financing source matters for firm growth is greater for small firms than big firms. Self-raised finance appears to be most effective in promoting small firms to grow, and bank loan seems to be more supportive to big firms.

Keywords: Business enterprises; Economic development; Finance; Financial institutions (search for similar items in EconPapers)
Date: 2009
New Economics Papers: this item is included in nep-cna, nep-dev, nep-eff, nep-fdg and nep-tra
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Citations: View citations in EconPapers (4)

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