Negative investment in China: financing constraints and restructuring versus growth.
This paper attempts to address a puzzle in China’s investment pattern: despite high aggregate investment and remarkable economic growth, negative net investment is commonly found at the microeconomic level. Using a large firm-level dataset, we test three hypotheses to explain the existence and exte...
| Main Authors: | , , |
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| 格式: | Working paper |
| 语言: | English |
| 出版: |
Department of Economics (University of Oxford)
2010
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