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  1. Local capital scarcity and small firm growth
    evidence from real estate booms in China
    Erschienen: [2019]
    Verlag:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    In geographically segmented credit markets, local real estate booms can deteriorate the funding conditions for small manufacturing firms and undermine their competitiveness. Using exogenous variation in the administrative land supply across 172... mehr

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    Verlag (kostenfrei)
    Verlag (kostenfrei)
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 63
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    In geographically segmented credit markets, local real estate booms can deteriorate the funding conditions for small manufacturing firms and undermine their competitiveness. Using exogenous variation in the administrative land supply across 172 Chinese cities, we show that higher predicted real estate prices cause higher borrowing costs for small manufacturing firms, reduce their bank lending, lower their investment rate and labor productivity, and reduce their output and TFP growth by economically significant magnitudes. These effects are absent in large and listed companies with access to the national capital market. The evidence highlights the benefits of financial market integration.

     

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/214930
    Schriftenreihe: CESifo working paper ; no. 7928 (October 2019)
    Umfang: 1 Online-Ressource (circa 69 Seiten), Illustrationen
  2. Empowered young women
    trade liberalization and women's family decisions in China
    Erschienen: 25 October 2022
    Verlag:  Centre for Economic Policy Research, London

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    Verlag (lizenzpflichtig)
    Verlag (lizenzpflichtig)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    LZ 161
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    Universitätsbibliothek Mannheim
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Array ; DP17607
    Schlagworte: Trade liberalization; Gender inequality; Family decisions; Chinese economy
    Umfang: 1 Online-Ressource (circa 49 Seiten), Illustrationen
  3. Capital scarcity and industrial decline
    evidence from 172 real estate booms in China
    Erschienen: May 2, 2018
    Verlag:  Swiss Finance Institute, Geneva

    In geographically segmented credit markets, local real estate booms can deteriorate the funding conditions for small manufacturing firms and undermine their growth and competitiveness. Based on exogenous variations in the administrative land supply... mehr

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    keine Fernleihe
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Keine Speicherung
    keine Fernleihe

     

    In geographically segmented credit markets, local real estate booms can deteriorate the funding conditions for small manufacturing firms and undermine their growth and competitiveness. Based on exogenous variations in the administrative land supply across 202 Chinese cities, we show that real estate price hikes caused by a restrictive land supply reduce bank credit to small firms, increase their borrowing costs, diminish their investment rate and compromise their output and productivity growth. Based on matched firm and product-level export data, we are able to discard local demand effects as an alternative explanations to the credit supply channel

     

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    Hinweise zum Inhalt
    Volltext (kostenfrei)
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    Schriftenreihe: Research paper series / Swiss Finance Institute ; no 18, 38
    Swiss Finance Institute Research Paper ; No. 18-38
    Umfang: 1 Online-Ressource (circa 52 Seiten), Illustrationen