The Investment Climate and the Firm : Firm-Level Evidence from China

71 Pages Posted: 20 Apr 2016

See all articles by Adam Wagstaff

Adam Wagstaff

World Bank - Development Research Group (DECRG)

Pierella Paci

World Bank

Heather Joshi

University of London - Center for Longitudinal Studies

Date Written: March 24, 2003

Abstract

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.

Keywords: Debt Markets, Access to Finance, Emerging Markets, Economic Theory & Research

Suggested Citation

Wagstaff, Adam and Paci, Pierella and Joshi, Heather, The Investment Climate and the Firm : Firm-Level Evidence from China (March 24, 2003). World Bank Policy Research Working Paper No. 3003, Available at SSRN: https://ssrn.com/abstract=634440

Adam Wagstaff

World Bank - Development Research Group (DECRG) ( email )

1818 H. Street, N.W.
MSN3-311
Washington, DC 20433
United States

HOME PAGE: http://econ.worldbank.org/staff/awagstaff

Pierella Paci (Contact Author)

World Bank ( email )

Washington, DC 20433
United States

Heather Joshi

University of London - Center for Longitudinal Studies ( email )

20 Bedford Way
London, WC1 OAL
United Kingdom
0171 612 6874 (Phone)
0171 612 6880 (Fax)

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