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The investment climate and the firm : firm-level evidence from China
Author:Hallward-Driemeier, Mary; Wallsten, Scott; Lixin Colin Xu; Collection Title:Policy, Research working paper series ; no. WPS 3003
Country:China; Date Stored:2008/09/10
Document Date:2003/03/24Document Type:Policy Research Working Paper
SubTopics:Access to Finance; Emerging Markets; Economic Theory & Research; Debt Markets; Language:Chinese
Region:East Asia and PacificReport Number:WPS3003
Sub Sectors:General finance sectorVolume No:1 of 1

Summary: The importance of a country's "investment climate" for economic growth has recently received much attention. The authors address the general lack of appropriate data for measuring the investment climate and its effects. The authors use a new survey of 1,500 Chinese enterprises in five cities to more precisely define and measure components of the investment climate, highlight the importance of firm-level data for rigorous analysis of the investment climate, and investigate empirically the effects of this comprehensive set of measures on firm performance in China. Overall, their firm-level analysis reveals that the main determinants of firm performance in China are international integration, entry and exit, labor market issues, technology use, and access to external finance.

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