典型文献
Structural Deleveraging:Evidence from China
文献摘要：
Using province-level data in China for the period of 1999-2015,we examine the mechanisms through which sectoral differences in leverage ratio and productivity affect macro leverage ratios.The state-owned sector undertakes a large number of public services and plays an irreplaceable role in solving market failures and providing public goods.However,in the case of information asymmetry and incentive incompatibility,these policy burdens affect the leverage optimization and productivity improvement of the state-owned sector.From the perspective of sectoral differences,we therefore decompose the change in macro leverage ratio into leverage ratio structure effect and productivity structure effect,and then substantiate the impact mechanisms of these two effects on macro leverage ratios.Overall,our conclusions provide theoretical support and empirical evidence for structural deleveraging in China.
文献关键词：
中图分类号：
作者姓名：
Caoyuan Ma;Pin Guo;Zhao Zhang
作者机构：
School of Economics and Finance,Xi'an Jiaotong University,China
文献出处：
引用格式：
[1]Caoyuan Ma;Pin Guo;Zhao Zhang-.Structural Deleveraging:Evidence from China)[J].中国与世界经济（英文版）,2022(06):137-162
A类：
Deleveraging,deleveraging
B类：
Structural,Evidence,from,China,Using,province,level,data,period,examine,mechanisms,through,which,sectoral,differences,leverage,productivity,affect,macro,ratios,state,owned,undertakes,large,number,public,services,plays,irreplaceable,role,solving,market,failures,providing,goods,However,case,information,asymmetry,incentive,incompatibility,these,policy,burdens,optimization,improvement,From,perspective,therefore,decompose,change,into,structure,then,substantiate,impact,two,effects,Overall,our,conclusions,provide,theoretical,support,empirical,evidence,structural
AB值：
0.579714
相似文献
机标中图分类号，由域田数据科技根据网络公开资料自动分析生成，仅供学习研究参考。
