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Toward State Capitalism in China?
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- Author(s): Herrala, Risto; Yandong Jia
- Source:
Asian Economic Papers; Summer2015, Vol. 14 Issue 2, p163-175, 13p- Subject Terms:
- Source:
- Additional Information
- Subject Terms:
- Abstract: We study empirically credit availability of listed firms in China for the years 2003-11 to uncover underlying trends in economic policies. The estimations indicate increasing favoritism of state-owned firms in credit availability, consistent with a drive toward "state capitalism." Initially, favoritism applied mainly to firms owned by the central government, but the difference between central and local government firms gradually diminished to insignificance. These results signal that economic policies pushed the Chinese economy from the path toward a market economy and state capitalism, and that the economic importance of local governments was growing. [ABSTRACT FROM AUTHOR]
- Abstract: Copyright of Asian Economic Papers is the property of MIT Press and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
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