Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 宋铮教授 (经济学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1257/aer.101.1.196 |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/112WOS source URL
其它资讯
摘要We construct a growth model consistent with China's economic transition: high output growth, sustained returns on capital, reallocation within the manufacturing sector, and a large trade surplus. Entrepreneurial firms use more productive technologies, but due to financial imperfections they must finance investments through internal savings. State-owned firms have low productivity but survive because of better access to credit markets. High-productivity firms outgrow low-productivity firms if entrepreneurs have sufficiently high savings. The downsizing of financially integrated firms forces domestic savings to be invested abroad, generating a foreign surplus. A calibrated version of the theory accounts quantitatively for China's economic transition. (JEL E21, E22, E23, F43, L60, O16, O53, P23, P24, P31)
着者Song Z, Storesletten K, Zilibotti F
期刊名称AMERICAN ECONOMIC REVIEW
详细描述To ORKTS: This paper is forthcoming in American Economic Review. The date of "publication" stated in the form is actually the date of "being accepted.
出版年份2011
月份2
日期1
卷号101
期次1
出版社American Economic Association
页次196 - 233
国际标準期刊号0002-8282
语言英式英语
Web of Science 学科类别Business & Economics; Economics; ECONOMICS
