firm birth

  • 详情 “Live”Capital in China: Property Rights Security and Firm Births
    Despite the importance of property rights protection, evidence of their impact on thebirth, survival, and operations of the whole universe of firms, and the broad impact on the economy, is limited. In this paper we address this important question by utilizing unique administrative firm-level datasets in China. Using a difference-in-differences design, we find that the China’s 2007 Property Law led to significant more new private firms, firms that eventually survive, firms with less shareholders, and more new exporters, whereas the impact is the opposite for state-owned enterprises (SOEs). Moreover, we find that the switch in resources between private firms and SOEs contributes to higher economic growth without sacrificing environmental quality.