Johnson et al. (2002. American Economic Review 92 (5), 1335–1356) examine the relative
importance of property rights and external finance in several Eastern European countries. …

We propose entertainment and travel costs (ETC) expenditures as a measure of corruption
in Chinese firms. These expenses are publicly reported in firms’ accounting books, and on …

Although there are distinct conjectures about the relationship between finance and income
inequality, little empirical research compares their explanatory power. We examine the …

This paper uses an encompassing framework developed by Murphy et al. (1991, 1993) to
study corruption and how it affects income distribution and growth. We find that (1) corruption …

Using a sample of Chinese state-owned enterprises spanning 1980 to 1994, we investigate
the factors that determine the sources of finance for firm-level fixed investment, including …

We examine the role of firms' government connections, defined by government intervention
in CEO appointment and the status of state ownership, in determining the severity of financial …

Using a large panel dataset of Chinese industrial firms, we find that poorly performing SOEs
were more likely to redistribute credit to firms with less privileged access to loans via trade …

Although theoretical models make distinct predictions about the relationship between financial
sector development and income inequality, little empirical research has been conducted …

Using enterprise-level data on bribes paid to utilities in 21 transition economies in eastern
Europe and central Asia, we examine how characteristics of the utilities taking bribes and the …

The literature on aid and growth has not found a convincing instrumental variable to identify
the causal effects of aid. This paper exploits an instrumental variable based on the fact that, …