The Chinese Corporate Savings Puzzle: A Firm-level Cross-country Perspective
---- Acknowledgements -----
We thank Vivek Arora, Olivier Blanchard, Stijn Claessens, Nigel Chalk, Joseph Fan, Randall Morck, David Romer, Ning Zhu and seminar participants at the IMF, HKMA, Tsinghua University, and NBER Conference on Capitalizing China for helpful comments. We thank Jeanne Verrier for excellent research assistance and Joy Glazener for editorial help. The views expressed herein are those of the authors and should not be attributed to the IMF, its Executive Board, its management, or the National Bureau of Economic Research.