We examine how foreign macroprudential tightening transmits through multinational firms' internal capital markets. Using subsidiary exposure to countercyclical capital buffer (CCyB) increases, we find that while bank credit to subsidiaries falls 10 percent, parents fully substitute this via...

Context: Vocational training has been a critical issue in China, where large percentages are regularly cited for unemployment statistics. In addition, Chinese higher vocational education and training (HVET) students are from relatively disadvantaged socio-economic backgrounds and they are...

Context: Vocational training has been a critical issue in China, where large percentages are regularly cited for unemployment statistics. In addition, Chinese higher vocational education and training (HVET) students are from relatively disadvantaged socio-economic backgrounds and they are...