NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
loading...

Special Deals with Chinese Characteristics

Chong-en Bai, Chang-Tai Hsieh, Zheng Song


This chapter is a preliminary draft unless otherwise noted. It may not have been subjected to the formal review process of the NBER. This page will be updated as the chapter is revised.

Chapter in forthcoming NBER book NBER Macroeconomics Annual 2019, volume 34, Martin S. Eichenbaum, Erik Hurst, and Jonathan A. Parker, editors
Conference held April 11-12, 2019
Forthcoming from University of Chicago Press
in NBER Book Series NBER Macroeconomics Annual

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.

download in pdf format
   (2860 K)

email paper

Machine-readable bibliographic record - MARC, RIS, BibTeX

This chapter first appeared as NBER working paper w25839, Special Deals with Chinese Characteristics, Chong-En Bai, Chang-Tai Hsieh, Zheng Michael Song
Commentary on this chapter:
  Comment, Maurice Obstfeld
  Comment, Antoinette Schoar
 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us