Download This PaperSpecial Deals with Chinese Characteristics
50 Pages Posted: 21 May 2019
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Special Deals with Chinese Characteristics
University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2019-74
Number of pages: 50
Posted: 21 May 2019
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Special Deals with Chinese Characteristics
NBER Working Paper No. w25839
Number of pages: 49
Posted: 22 May 2019
Last Revised: 06 Feb 2023
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38
Date Written: May 2019
Abstract
Chinese local governments wield their enormous political power and administrative capacity to provide “special deals” for favored private firms. We argue that China’s extraordinary economic growth comes from these special deals. Local political leaders do so because they derive personal benefits, either political or monetary, from providing special deals. Competition between local governments limits the predatory effects of special deals.
JEL Classification: E02, F00, N00, P0
Suggested Citation: Suggested Citation
Hsieh, Chang-Tai and Bai, Chong-En and Song, Zheng (Michael), Special Deals with Chinese Characteristics (May 2019). University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2019-74, Available at SSRN: https://ssrn.com/abstract=3391506 or http://dx.doi.org/10.2139/ssrn.3391506
Chang-Tai Hsieh (Contact Author)
University of Chicago - Booth School of Business ( email )
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
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