State Ownership, Economic Stimulus, and Credit Expansion in China
, Assistant Professor of Finance
Frictions in the banking sector can affect banks’ lending behavior and firm ability to seize new investment opportunities. In this proposal we outline two ongoing research projects to investigate how changes in the availability of funds for Chinese banks as well as changes in their ownership structure affect access to credit, investment and productivity of Chinese firms. Our focus will be, in particular, on small and medium enterprises, which traditionally struggle to obtain sufficient credit from large state-owned banks.
, with Haoyu Gao, Jacopo Ponticelli, Xiaoguang Yang, The Review of Financial Studies, Volume 32, Issue 9, September 2019, Pages 3412–3460,