The Chinese government has adopted a rebalancing strategy since 2011, shifting from an investment- to consumption-oriented growth model. An aim of this reform is for a “greener” development mode, but relevant empirical evidence is slim. In this study, we propose an innovative methodology to...

International debt financing is important for the development of emerging economies, as it gives firms from emerging markets (EMs) access to greater liquidity, a wider investor base and more effective laws and regulations. However, the financial crisis in the late 1990s, coupled with recent...