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Special Deals with Chinese Characteristics / Chong-En Bai, Chang-Tai Hsieh, Zheng Michael Song.
- Format:
- Book
- Author/Creator:
- Bai, Chong-En.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w25839.
- NBER working paper series no. w25839
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2019.
- Summary:
- Chinese local governments wield their enormous political power and administrative capacity to provide "special deals" for favored private firms. We argue that China's extraordinary economic growth comes from these special deals. Local political leaders do so because they derive personal benefits, either political or monetary, from providing special deals. Competition between local governments limits the predatory effects of special deals.
- Notes:
- Print version record
- May 2019.
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