This paper studies whether inward FDI deregulation promotes innovation by firms in the host country. A theoretical framework, in which the entry of additional foreign firms is associated with both spillover and competition effects, is built to guide the empirical evaluation. Exploiting data on...

This paper studies whether foreign investment deregulation promotes firm innovation. A theoretical framework, in which the spillover and competition effects from more foreign firms induced by foreign investment deregulation, is built to guide the empirical evaluation. Exploiting the data on...

This paper accompanies the Historical National Accounts datahub which presents an overview of the currently available studies on long-term economic growth across countries. Now that more and more detailed historical national accounts have become available, the Groningen Growth and Development...

Using unbalanced panel data on 3326 Chinese listed companies from 2014 to 2021, this study investigates the impact of corporate environmental performance on China's excess stock returns. The results show that stocks of companies with better environmental performance earn signifcantly higher...

Cultural distance is an important factor for the success of venture capital (VC) investments. Using a large sample of Chinese VC events, this study examines how cultural proximity between VC investors and portfolio firms, as measured by a unique indicator using Chinese dialects, affects the...

This article explores the dynamic distribution of city-level CO2 emissions in China from the national and regional perspectives. To highlight this issue, we propose a q-σ stochastic convergence model to checkout the heterogeneous convergence trend of carbon emissions at different quantiles. A...

This paper estimates the effect of high-speed rail (HSR) on city tourism. To identify the causal effect, we measure tourism outcomes with population flow data from Tencent migration big data and construct daily panel data of two national holidays from April 2015 to May 2019. Empirical results...

Urban bias has long been China's dominant economic policy. The persistent urban bias leads to a severe rural-urban income gap and diverts physical as well as an effect of diverting the rural resource out of agricultural sector, and thus is detrimental to agricultural growth. This paper uses...