The SOE Premium and Government Support in China's Credit Market
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Studying Chinas credit market using a structural default model that integrates credit risk, liquidity, and bailout, we document improved price discovery and deepening divide between state-owned enterprises (SOEs) and non-SOEs. Amidst liquidity deterioration, the presence of government bailout helps
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美国国家经济研究局创建时间：
2019-12-01
