Wang, Yanli; Lei, Xiaodong; Yang, Fan; Zhao, Na - In: Journal of Applied Economics 24 (2021) 1, pp. 393-408
We explore the impact of financial friction on resource misallocation and total factor productivity (TFP) of China … financial friction leads to resource mismatch, and thus results in the loss of TFP. Second, taking the dataset of China as the …. The results show that financial friction has negative impact on the TFP of China. In addition, the friction of financial …