| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12345 |
| DP12345 The Externalities of Corruption: Evidence from Entrepreneurial Activity in China | |
| Mariassunta Giannetti; Xiaoyun Yu; Guanmin Liao | |
| 发表日期 | 2017-10-02 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We show that corruption affects negatively the performance of small entrepreneurial firms, which compete with corrupted industry peers. We exploit the Chinese anti-corruption campaign to establish causality and identify the channels through which corruption causes negative externalities. Small firms have lower sales growth in industries with high corruption, arguably because demand is diverted to the largest firms in their industries, which spend more in corrupting officials. Small firms also have higher financing costs in industries with high corruption and therefore invest less. Furthermore, corruption decreases the efficiency of labor and capital allocation and deters firm entry. |
| 主题 | Development Economics ; Financial Economics |
| 关键词 | Corruption Corporate governance Capital and labor allocation China |
| URL | https://cepr.org/publications/dp12345 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541155 |
| 推荐引用方式 GB/T 7714 | Mariassunta Giannetti,Xiaoyun Yu,Guanmin Liao. DP12345 The Externalities of Corruption: Evidence from Entrepreneurial Activity in China. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
