The purpose of this paper is to test the applicability of the ＂financial ac- celerator＂ mechanism to China. Using the Chinese Industrial Enterprises Database, we find strong evidence suggesting that the employment a...The purpose of this paper is to test the applicability of the ＂financial ac- celerator＂ mechanism to China. Using the Chinese Industrial Enterprises Database, we find strong evidence suggesting that the employment and investment of leveraged firms are less responsive to aggregate fluctuations. This finding goes against the im- plications of the ＂financial accelerator＂. To make sure our empirical result is reliable, we have done several robustness checks using different estimation methods and sub- samples.展开更多
In recent years,with China’s accelerated implementation of the'going out'strategy and promotion of the'Belt and Road'construction and development,Chinese enterprises have grown rapidly and achieved br...In recent years,with China’s accelerated implementation of the'going out'strategy and promotion of the'Belt and Road'construction and development,Chinese enterprises have grown rapidly and achieved breakthroughs in terms of overseas investment in copper industries and overseas development of copper resources that are in short supply in China.展开更多
文摘The purpose of this paper is to test the applicability of the ＂financial ac- celerator＂ mechanism to China. Using the Chinese Industrial Enterprises Database, we find strong evidence suggesting that the employment and investment of leveraged firms are less responsive to aggregate fluctuations. This finding goes against the im- plications of the ＂financial accelerator＂. To make sure our empirical result is reliable, we have done several robustness checks using different estimation methods and sub- samples.
文摘In recent years,with China’s accelerated implementation of the'going out'strategy and promotion of the'Belt and Road'construction and development,Chinese enterprises have grown rapidly and achieved breakthroughs in terms of overseas investment in copper industries and overseas development of copper resources that are in short supply in China.
