The Pearl River Delta, one of the main regions of China’s export-oriented economy, has benefited from its traditional economic structure for three decades which in turn appeared to hinder further economic development recently. To advance industrial restructuring and upgrading, the governments...

We examine the impact of competition on bank earnings persistence by exploiting a natural experiment following interstate banking deregulation that increased bank competition. We find that bank earnings adjustment speed increases after their states implement the deregulation. This relationship...