NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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The Return to Capital in China

Chong-En Bai, Chang-Tai Hsieh, Yingyi Qian

NBER Working Paper No. 12755
Issued in December 2006

---- Acknowledgments ----

We are grateful to Jessy Zhenjie Qian for excellent research assistance. We thank Olivier Blanchard, Richard Cooper, and other Brookings Panel participants for helpful comments. We also thank Xianchun Xu from China's National Bureau of Statistics for helpful discussions. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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