NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Corruption, Government Subsidies, and Innovation: Evidence from China

Lily Fang, Josh Lerner, Chaopeng Wu, Qi Zhang

NBER Working Paper No. 25098
Issued in September 2018

---- Acknowledgments ----

Harvard Business School’s Division of Research and the Toulouse Network provided financial support. Wu and Zhang gratefully acknowledge financial support from the National Natural Science Foundation of China (71722012, 71790600, 71790601, 71272082, 71232005, 71402156, and 71532012) and the Major Research Project of Philosophical and Social Sciences of China Education Ministry (15JZD019). Josh Lerner periodically receives compensation for advising institutional investors, private equity firms, corporate venture groups, and government agencies on topics related to entrepreneurship, innovation, and private capital. All errors are our own.

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