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...

Full description

Bibliographic Details
Main Authors: Knight, J, Ding, S, Guariglia, A
Format: Working paper
Published: University of Oxford 2010